Basis for valuations

[artist]

What is the basis for valuing a property for the purposes of extending the lease? Is it the prices of similar properties recorded as recently sold or is it asking prices at the time of the valuation?

[sgclacy]

What is the basis for valuing a property for the purposes of extending the lease? Is it the prices of similar properties recorded as recently sold or is it asking prices at the time of the valuation?


Its the market value of the property if it had a very long lease and a neglible ground rent at teh date the notice is served

[jeffrey]

What is the basis for valuing a property for the purposes of extending the lease? Is it the prices of similar properties recorded as recently sold or is it asking prices at the time of the valuation?
Answer may differ depending if the property is a house, flat, commercial, etc.

[artist]

Is the 'market value' based on actual sold prices or current asking prices? It is a flat.

[jeffrey]

Is the 'market value' based on actual sold prices or current asking prices? It is a flat.
An asking price is not realy a price, still less a value; it's just what V wants, not necessarily what V will get!