by Alchemy » Mon Aug 07, 2017 4:01 pm
The freeholder will want most, if not all, of the value added, and there's not much you can do about it.
I tried to buy a small loft space from my freeholder, which was Wandsworth Council, and they wanted 80% of the value added. Turned out to be much cheaper to buy the freehold, oddly enough, but that is a more complicated process.
Make sure you get a quote from your freeholder before buying the property.
The freeholder will want most, if not all, of the value added, and there's not much you can do about it.
I tried to buy a small loft space from my freeholder, which was Wandsworth Council, and they wanted 80% of the value added. Turned out to be much cheaper to buy the freehold, oddly enough, but that is a more complicated process.
Make sure you get a quote from your freeholder before buying the property.