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Would someone consider buyring my property with 86 years remaining on the lease? If so would I have to reduce the asking price?

Looking at the possibility to sell my flat. Bought in 2012 with an 88 year lease remaining. Curious about the sell on value and how much it would cost to extend and whether it would be worth it.

Asked on Apr 2 2014, House Prices in Mitcham | Report content

Answers (1)

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  • There is no reason to extend the lease, 88 years is plenty, only if the lease has less than about 70 years would a buyer encounter difficulties with a mortgage. Extending a lease is quite expensive: legal fees, valuation fees, plus the cost of the extension.

    Web reference: http://www.lease-advice.org/

    Answered on Apr 2 2014, Report content

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