leasehold extension (I am the landlord)

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    leasehold extension (I am the landlord)

    Hi There,
    I own a property that contains mine and then the ground floor. The owners of the ground floor flat have informed me they wish to progress witha leasehold extension without serving formal notice.

    I have done some calculations as to what the fee would be for this and i think I am fairly on the money but I have questions over how the fees should be handled.

    I have been quoted 600 GBP for the legal fees and 300+ VAT for the Surveyor to visit the property and then give me a viw of the fee and negociating terms. ARe these prices acurate and would I then wrap these costs into the final sum I quote to the leaseholder? Or could I make her pay in advance my fee's? Im just a little hesitant as if I pay the fees for the solicitor and surveyor and then she does not extend I am left baring these costs!

    Please help.

    #2
    As lessee (T) is not using statutory procedure, there is no statutory obligation to pay your fees. If T is using own solicitors, better to ensure that they give a professional indertaking to yours. If same firm is acting for both you and T, ensure that T deposits required funds with them (and that they agree with you and T the future use of the funds) before valuing/conveyancing begins.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      thanks for the prompt reply.

      In regards to getting the Surveyor to value the extension - is a desktop excersise good enough or would it wise to have a full site visit? Obviously the site visit is more expensive but not sure if really required?

      Thanks again.

      Comment


        #4
        Originally posted by donniedarko View Post
        thanks for the prompt reply.

        In regards to getting the Surveyor to value the extension - is a desktop excersise good enough or would it wise to have a full site visit? Obviously the site visit is more expensive but not sure if really required?

        Thanks again.
        What do I know? Surely surveyor should be asked this!
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #5
          hahaha thanks! Are there any Surveyors around please?

          Comment


            #6
            There are. Send me an email with details of where the property is and I will probably be able to recommend a local surveyor.

            Comment

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