Selling a Converted Flat

Converted flats are former homes or other properties that have been divided into individual units, and there’s plenty to learn about trying to sell this particular type of home.

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Your top questions when selling a converted flat

✅ How do I know whether the property I'm selling is a converted flat?

Converted flats are individual residential units that were not originally built for that purpose and have been redeveloped into homes. You can find converted flats throughout the UK in urban areas, suburbs, the countryside and more, and they can include large houses that have been divided up into flats, as well as former office and commercial spaces that are redeveloped.

✅ Why might a buyer be wary about making an offer on a converted flat?

There are a few reasons why a buyer could be concerned about owning a converted flat, and these can vary depending on the specific property. Some common worries include that this type of flat may be much smaller in size compared to other flats, there might be noise from a business that shares the building, the lease could have restrictive conditions and more.

✅ What are the reasons why a buyer may want to own a converted flat?

In contrast to the various concerns that prospective buyers might have about making an offer to purchase a converted flat, there are a handful of reasons that can make someone more interested in your property. These homes are sometimes more affordable for buyers, the shared space can be appealing to others and the architecture of the building may be attractive to them.

✅ Is it hard to get a mortgage for purchasing a converted flat?

If your converted flat does not have any physical issues or other problems then it should be relatively straightforward for a potential buyer to obtain a mortgage in order to afford the purchase of your property. But if your flat has any significant negative aspects then you may find that many private buyers are unable to obtain a mortgage, making it harder to sell the home.

✅ What are my options for how to sell a converted flat?

When you’re ready to sell your converted flat, you will generally be able to select from four potential methods to find a buyer – selling to a quick home buyer like LDN Properties, selling with an estate agent, trying your luck with a property auction or selling on your own, and you will discover that each of the selections have their own particular strengths and weaknesses.

✅ Which methods of selling my converted flat will charge commission?

You will need to pay commission if you decide to sell your converted flat using the services of an auctioneer or an estate agent, and this fee is deducted right away from the final sale proceeds, which adds to your expenses. But if you sell without any such third-party help or you sell to a zero-commission quick buyer like LDN Properties then you won’t pay any fees.

✅ What's the fastest choice for deciding how to sell a converted flat?

Your swiftest option for selling the flat will usually be getting in touch with LDN Properties or another quick buyer because the timeline should only be a handful of weeks, and this includes the time taken to exchange contracts and pay the full proceeds. Selling through an estate agent, at a property auction or without any assistance can all take at least several months.

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