Some great properties are advertised with 'client negotiated extension' and variations.
2007-01-10 07:07:33 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
How realistic to think an extension can be negotiated at an acceptable price, are there any caps in place to stop the freeholder just making up a number??
2007-01-10 07:08:49 · update #1
It all depends on the economics. Is it for living in, or leasing it out? Is there a tax break that comes with owning versus renting? Will you be paying cash, or financing? In the latter case, is interest deductible? (Although depending on your credit circumstances you might have a hard time finding a lender). Is renting a viable alternative?
2007-01-10 07:18:13 · answer #1 · answered by Stephen B 2 · 0⤊ 0⤋
God, we bought with a 999 year lease (2yrs ago) and the freeholders are saying they want to buy us out knock the building down and build on site. They have planning permission and everything. They then offered silly money - we refused (no legal way to force us). The plan makes no financial sense (for them), now they're bringing out a contract and trying to pressure saying we need to decorate outside every 7yrs and inside every 5yrs. Anyway, legally we're okay and I would sell at right price (we had valuations and they are ALL above what offered by freeholders), but it is a stress, like living in limbo. What's the point in doing anything if we're going to go and house be knocked down?. Anyway, in future I would ONLY ever buy freehold!
2007-01-10 07:20:23 · answer #2 · answered by Flossie 4 · 0⤊ 0⤋