We are selling our flat, which has a 79 year lease left. We are aware that the lease will probably need to be extended so have told the EA we are happy to knock 10K off the asking price and serve the free holder with a section 42. This means that we will start the extension process but then upon completion all responsibly will be handed over to the new owner and they can continue the extension themselves. We have been quoted £11K for the Lease extension.
We thought this was a reasonable way of dealing with things as we’ve lowered the price to compensate for the extra expense. We’ve had an offer 6K below the asking price and the buyer insists we deal with the extension. Is it just me who thinks they’re being a tad cheeky? It wouldn’t benefit us financially to accept a lower price AND complete the extension ourselves! It would add value to a flat that we no longer own!
Have any other Mumsnetter’s had similar issues or experiences and what did you do?
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Property/DIY
Lease Extension - any experiences?
9 replies
BethanyCourt · 16/10/2017 09:52
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