Hello everybody:D:
I feel like I have been gone for ages!
I have been approached by the buyer of a flat.. he would like to extend the lease (or at least have some idea on how much I want for doing one). He is fully aware of what he is entitled to. We have discussed and he has decided that he would rather do a private lease extention for an extra 90 yeas. I have some figures in my head but was just wondering if i had my base figure right. The flat needs renovating, the lease has 84 years left and if the flat was in top notch condition it would sell for £1350000 - £130000. I have based my costs on these figures am I right or should I base it on what he is paying for it?
(he is paying £110000, (but this is the fig he put the offer in before finding out that the lease had less years, he will be making a lower offer when he has a figure from me).
Any help would be most welcome!
I feel like I have been gone for ages!
I have been approached by the buyer of a flat.. he would like to extend the lease (or at least have some idea on how much I want for doing one). He is fully aware of what he is entitled to. We have discussed and he has decided that he would rather do a private lease extention for an extra 90 yeas. I have some figures in my head but was just wondering if i had my base figure right. The flat needs renovating, the lease has 84 years left and if the flat was in top notch condition it would sell for £1350000 - £130000. I have based my costs on these figures am I right or should I base it on what he is paying for it?
(he is paying £110000, (but this is the fig he put the offer in before finding out that the lease had less years, he will be making a lower offer when he has a figure from me).
Any help would be most welcome!