On Wednesday, 8 June 2016 10:12:30 UTC+1, tim... wrote:
"whisky-dave" wrote in message
...
On Tuesday, 7 June 2016 11:46:20 UTC+1, tim... wrote:


so you take it to the tribunal (for which you pay).

yes you pay either way, we came to an agreement.
My surveyor change an extra grand for his 6 hours of negotiations to get
it down from 57K (leaseholders calculation) to 36K


and then when they have come up with their value that IS the maximum
value
that the FH can charge for the selling/extending the lease (today).

But getting a figure for that maximum value requires a lot of work and
expense by the purchaser.

which was already done an he came to 57K and his fee was £900 for that.


There is not a simple finger in the air value for it (which was the point
at
issue).

Yes although I don;t know why it can;t be simplier other than for profit
reasons.


You were lucky that the FH accepted your surveyor's opinion

I doubt it was luck but can't be sure.

A friend has gone through a similar proces, his flat is smaller and his was 29k.

My surveyor 'calculated' the range between 26K and 58k so was very suprised they went for a 57K . Their surveyor also said I had a study, which I haven't.


I would have gone up to about 45K I think.


most are very reluctant to do so

tim

My surveyor advised me that I shouldn't go to a triburnal as they'd be unlikely
to have come out on my side.

There might have been another reason as I had a go... at them about the way they were treating the 90+ year old down stairs and that I;d put it up on socail media and email my MP and another person in parliment that I know personally.

"whisky-dave" wrote in message
...
On Wednesday, 8 June 2016 10:12:30 UTC+1, tim... wrote:
"whisky-dave" wrote in message
...
On Tuesday, 7 June 2016 11:46:20 UTC+1, tim... wrote:


so you take it to the tribunal (for which you pay).

yes you pay either way, we came to an agreement.
My surveyor change an extra grand for his 6 hours of negotiations to
get
it down from 57K (leaseholders calculation) to 36K


and then when they have come up with their value that IS the maximum
value
that the FH can charge for the selling/extending the lease (today).

But getting a figure for that maximum value requires a lot of work and
expense by the purchaser.

which was already done an he came to 57K and his fee was £900 for that.


There is not a simple finger in the air value for it (which was the
point
at
issue).

Yes although I don;t know why it can;t be simplier other than for
profit
reasons.


You were lucky that the FH accepted your surveyor's opinion

I doubt it was luck but can't be sure.

A friend has gone through a similar proces, his flat is smaller and his
was 29k.

My surveyor 'calculated' the range between 26K and 58k so was very
suprised they went for a 57K . Their surveyor also said I had a study,
which I haven't.

sorry doesn't make sense




I would have gone up to about 45K I think.


most are very reluctant to do so

tim

My surveyor advised me that I shouldn't go to a triburnal as they'd be
unlikely
to have come out on my side.

well this depends upon how far apart you are.

But it's a lot different for a LH flat extension than for a LH house sale

the usual point(s) of contention for extensions are over the length of the
lease and the new GR.

FH-ers are apt to offer a new lease of 99 years when the statutory right is
+90 years (so someone asking at 60 years should expect a new lease of 150
years). The difference in costs of these two for the purchaser should be
close to zero, but the effect on the value to the FH-er is noticeable.

and

a GR of circa 500 pounds doubling every n years when the statutory right is
for a peppercorn GR.

FH-ers know that they will lose on both these points if pushed to a tribunal
so if they are items that are critical to you (they would be to me, but as
already pointed out Kirsty will just shrug and say "whatever") taking it to
a tribunal is definitely the way to go.

tim

On Wednesday, 8 June 2016 13:43:58 UTC+1, tim... wrote:
"whisky-dave" wrote in message
...
On Wednesday, 8 June 2016 10:12:30 UTC+1, tim... wrote:
"whisky-dave" wrote in message
...
On Tuesday, 7 June 2016 11:46:20 UTC+1, tim... wrote:


so you take it to the tribunal (for which you pay).

yes you pay either way, we came to an agreement.
My surveyor change an extra grand for his 6 hours of negotiations to
get
it down from 57K (leaseholders calculation) to 36K


and then when they have come up with their value that IS the maximum
value
that the FH can charge for the selling/extending the lease (today).

But getting a figure for that maximum value requires a lot of work and
expense by the purchaser.

which was already done an he came to 57K and his fee was £900 for that.


There is not a simple finger in the air value for it (which was the
point
at
issue).

Yes although I don;t know why it can;t be simplier other than for
profit
reasons.


You were lucky that the FH accepted your surveyor's opinion

I doubt it was luck but can't be sure.

A friend has gone through a similar proces, his flat is smaller and his
was 29k.

My surveyor 'calculated' the range between 26K and 58k so was very
suprised they went for a 57K . Their surveyor also said I had a study,
which I haven't.

sorry doesn't make sense.

Really ... what so complicated.

1/ To extend your leasehold on teh flat you have to come to a deal
with the leaseholder.

2/ This MUST be done through a solicitor (I don't think you can do it yuorself)


3/ you hire a solicitor who tells you to get a surveyer in, to value the property. It MUST be a surveyer not someone from an estate agent that tells you how much the property is worth but a chartered surveyer.

Who produces a documetn which ends ups telling you how much you should expect to pay this IS NOT a fixed figure there's a maxium and a minium.
His min was £26k max was £58K in my case


4/ The leaseholders then get their surveyer in who visits the property and comes back with their valuation.
in my case £57k

5/ We then said we'd take them on a section 42


6/ I then contact my surveyer who talks to their surveyer and they come to a deal which in my case was £36k

So what doesn't make sense ?

Luckily there was no talk of leaving the EU otherwise the cost might have gone into the millions ;-)


My surveyor advised me that I shouldn't go to a triburnal as they'd be
unlikely
to have come out on my side.

well this depends upon how far apart you are.

No it really depends on the lease remaining mine ws 56 below 52 and the tribuneral is VERY unlikely to grant an extention, and the 'marriage' value (curious term) is very high anyway.


But it's a lot different for a LH flat extension than for a LH house sale

the usual point(s) of contention for extensions are over the length of the
lease and the new GR.

Yes that's why we went for a section 42 to set these things.
The lengh of the lease is NOT a contention it is fixed and set.
My lease is for 189 years from 1971.
That cannot be changed without re-writing everything which is very expensive and not really done because of that.


FH-ers are apt to offer a new lease of 99 years when the statutory right is
+90 years (so someone asking at 60 years should expect a new lease of 150
years). The difference in costs of these two for the purchaser should be
close to zero, but the effect on the value to the FH-er is noticeable.

and

a GR of circa 500 pounds doubling every n years when the statutory right is
for a peppercorn GR.

yes section 42 or so I'm told.


FH-ers know that they will lose on both these points if pushed to a tribunal
so if they are items that are critical to you (they would be to me, but as
already pointed out Kirsty will just shrug and say "whatever") taking it to
a tribunal is definitely the way to go.

not min my situation apparently due to the relatively short lease remaining..



tim

"whisky-dave" wrote in message
...
On Wednesday, 8 June 2016 13:43:58 UTC+1, tim... wrote:
"whisky-dave" wrote in message
...
On Wednesday, 8 June 2016 10:12:30 UTC+1, tim... wrote:
"whisky-dave" wrote in message
...
On Tuesday, 7 June 2016 11:46:20 UTC+1, tim... wrote:


so you take it to the tribunal (for which you pay).

yes you pay either way, we came to an agreement.
My surveyor change an extra grand for his 6 hours of negotiations to
get
it down from 57K (leaseholders calculation) to 36K


and then when they have come up with their value that IS the
maximum
value
that the FH can charge for the selling/extending the lease (today).

But getting a figure for that maximum value requires a lot of work
and
expense by the purchaser.

which was already done an he came to 57K and his fee was £900 for
that.


There is not a simple finger in the air value for it (which was the
point
at
issue).

Yes although I don;t know why it can;t be simplier other than for
profit
reasons.


You were lucky that the FH accepted your surveyor's opinion

I doubt it was luck but can't be sure.

A friend has gone through a similar proces, his flat is smaller and his
was 29k.

My surveyor 'calculated' the range between 26K and 58k so was very
suprised they went for a 57K . Their surveyor also said I had a study,
which I haven't.

sorry doesn't make sense.

Really ... what so complicated.



"My surveyor 'calculated' the range between 26K and 58k so was very
surprised they went for a 57K "

who is "they"

what do you mean by "went for"?

tim