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sally_in_wales Downsizer Moderator
Joined: 06 Mar 2005 Posts: 20809 Location: sunny wales
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thos
Joined: 08 Mar 2005 Posts: 1139 Location: Jauche, Duchy of Brabant (Bourgogne-ci) and Charolles, Duchy of Burgundy (Bourgogne-�a)
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sally_in_wales Downsizer Moderator
Joined: 06 Mar 2005 Posts: 20809 Location: sunny wales
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tahir
Joined: 28 Oct 2004 Posts: 45676 Location: Essex
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Behemoth
Joined: 01 Dec 2004 Posts: 19023 Location: Leeds
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dougal
Joined: 15 Jan 2005 Posts: 7184 Location: South Kent
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Posted: Thu Aug 11, 05 3:25 pm Post subject: |
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Thos is perfectly correct that the current *investment* value of the freehold to any other buyer is only likely to be �100 or so.
However its value to you, Sally, is going to be higher, and that is going to be well-known to the freeholder.
Its going to make your property more attractive to buyers, not least because of removing the uncertainty (and consequent expense) of discovering exactly what constraints might be in the lease. And its going to make every sale of the property for the next 900 years simpler than it would otherwise be - ie its of value to your successors as well.
Thos is looking *only* at the revenue account and, I think, overlooking the capital side. Any capital consideration would factor in the value of the property, and what percentage uplift the benefit of being freehold would make. Ask Estate Agents. But, including all fees, it doesn't sound terribly expensive, to "get the monkey off your back".
With every successful sale, the price is one that the seller finds acceptable and that the buyer is prepared to pay.
By all means negotiate on the terms - the fact that they have approached you suggests that there might be scope for a counter offer, but the essential thing is that they are prepared to sell. (I'm sure the asking price would be higher if you had approached them!) |
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Jb
Joined: 08 Jun 2005 Posts: 7761 Location: 91� N
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Bugs
Joined: 28 Oct 2004 Posts: 10744
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Treacodactyl Downsizer Moderator
Joined: 28 Oct 2004 Posts: 25795 Location: Jumping on the bandwagon of opportunism
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sally_in_wales Downsizer Moderator
Joined: 06 Mar 2005 Posts: 20809 Location: sunny wales
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thos
Joined: 08 Mar 2005 Posts: 1139 Location: Jauche, Duchy of Brabant (Bourgogne-ci) and Charolles, Duchy of Burgundy (Bourgogne-�a)
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jema Downsizer Moderator
Joined: 28 Oct 2004 Posts: 28239 Location: escaped from Swindon
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High Green Farm
Joined: 30 Nov 2004 Posts: 349 Location: Mid-Suffolk
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wellington womble
Joined: 08 Nov 2004 Posts: 15051 Location: East Midlands
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tawny owl
Joined: 29 Apr 2005 Posts: 563 Location: Hampshire
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Posted: Fri Aug 12, 05 11:42 am Post subject: |
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dougal wrote: |
Thos is perfectly correct that the current *investment* value of the freehold to any other buyer is only likely to be �100 or so.
However its value to you, Sally, is going to be higher, and that is going to be well-known to the freeholder. |
And it includes the conveyancing costs, which would probably be a couple of hundred anyway, solicitors being the expensive little devils that they are. In all honesty, you're going to end up owning your house outright for the cost of a fortnight's package holiday. I'd say grab it, but as others have said, see if you can get a few quid off, and get them to do the Land Registry transfer for you as well. |
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