Property Solutions to Sell Your House Fast For Market Value
The reason why people buy leasehold property is they tend to be cheaper than freehold properties and it’s a way for first time buyers to get on the property ladder. Many of the properties in large cities are leasehold flats, which means a leasehold property is their only option to live in a city.
It is a little harder to sell leasehold property vs freehold property as leasehold properties have annual service charges and ground rents to pay, making them less attractive. Also, the remaining lease term affects its saleability, and if this is under 80 years it will be harder to sell.
The main disadvantages of buying leasehold property include paying service charges and ground rents, which can be very costly and you have no control over. But also, owners of leasehold property are often governed by many restrictive covenants and will need permission to extend or make alterations.
House sellers often lie with the biggest percentage lying about neighbour disputes, which is one of the hardest lies to uncover and protect against. Buying a house when the seller has a dispute with a neighbour doesn’t always mean you shouldn’t buy, but knowing is key so you make the right decision.
When selling a house there is no legal requirement to provide buyers electrical safety certificates, but buyers may ask for a safety test on both gas and electricity as a check before they buy. However, if you provide an electrical safety certificate you may sell your house faster.
If a seller lied on their property information form the seller may be liable to pay damages to the buyer for misrepresentation. But it’s important for buyers to beware and to do their own due diligence by carrying out a survey, searches and other checks to make sure the property has no issues.
