The Right to Buy scheme was set up to help people buy their council homes. It also extends to customers of social landlords who obtained their secured tenancies before the date council homes were transferred to new landlords. This date depends on which organisation was your landlord before Karbon Home. Reputation for building and managing affordable homes and helping to keep local communities thriving. Share to Buy lists thousands of Shared Ownership homes all across the country – including new build properties and those available through resale. For example, there are caps on household income which means that you must earn less than £80,000 to be eligible for the scheme – or less than £90,000 if you would like to buy a home in London.
Estate agents must be upfront about lease length, any costs or fees, and how these might change over time. As the lease length gets smaller, the property value may be affected, especially once it falls under 80 years. Many developers will ask you to exchange contracts and pay a deposit shortly after reserving the property. You should make sure your lender and legal representative are aware of the deadline and are able to meet it. The estate agent will help guide you through the buying process and work with other parties to help the sale progress. But remember – their primary role is to help the seller sell their property.
These are questions about the information which they have received e.g. the title, or the mortgage offer. The length of the lease will be specified in the contract, but you should ask the estate agent up front how long is left on the lease and should wait until you have this information before making an https://www.goodsellerairmax.com/ offer. Most new build homes have a 10-year warranty for major structural problems and a 2-year warranty for general defects, but this may not cover the whole of the property and any attached land. Make sure you are clear about what is and is not included in the warranty before you put down a deposit.
The asking price is just that – don’t be afraid to make a lower offer. The estate agent is legally obliged to pass on all offers and the seller is not obliged to accept any offer, regardless of how much it is. Buying a rented property with a sitting tenant, or buying with the purpose of renting the property out, may be an investment option; however it is beyond the scope of this guide.
Flat or house – flats are nearly always leasehold, so you will pay a regular service charge and you may have to renew the lease. More information on purchasing a leasehold property can be found https://www.wikipedia.org/ in the How to lease guide. These are charged annually, usually if your property is a flat or maisonette, but sometimes even if it is a house, for services such as communal grounds maintenance.