Selling a House With Legal Problems
There are several reasons why you could have legal problems with a property that you’re attempting to sell, and this could make it harder to find a buyer.
Your top questions when selling a property with legal problems
✅ What are some legal problems that can affect a freehold or leasehold home?
There are a number of different legal problems that you might have experienced either currently or in the past at your leasehold or freehold property, including issues with the title deeds such as unregistered land, litigation ongoing with neighbours over factors such as boundary disputes, unpaid utility bills or other arrears such as missed mortgage payments, and more.
✅ Why might legal problems at a property make it harder to sell the home?
If there are legal problems at your property, then you will likely have to inform prospective buyers about these issues and, depending on the seriousness of the issue, then you might find that it’s enough to make some buyers lose interest in purchasing your house or flat. Other legal problems could lead buyers to significantly reduce the offer they make for the property.
✅ What are the requirements for me to tell buyers about legal issues at my property?
As part of the process of selling your leasehold or freehold house, flat or other type of property, you will be required to fully and honestly complete what’s called a TA6 form, also known as a Property Information Form. You’re required by law to answer this form fully, where you’ll be asked to explain in detail any legal problems and other issues affecting your home.
✅ Are there any consequences for withholding legal problems at my home from buyers?
Yes, it’s a statutory requirement under a law known as The Consumer Protection from Unfair Trading Regulations 2008 to provide prospective buyers with information about a broad number of possible legal problems that might exist at your home. You could face litigation and major penalties if someone buys your property and then discovers you concealed a legal problem.
✅ Should I try to resolve a legal problem at my house or flat before selling it?
You can assess whether it’s feasible to spend money, time and effort on resolving an outstanding legal problem at your freehold or leasehold property before trying to sell it, but this might not be something you can do based on the cost or schedule involved. You still have options to sell a home with legal problems, for example by selling to a quick property buyer.
✅ What is the amount of commission I will pay when selling my home with legal problems?
If you decide to sell your property through an estate agent then they will often charge you commission within a range of 1.15 percent to 1.40 percent of the home’s sale price, and this will be subtracted right away from the final sale proceeds. However, if you opt for selling your home to a zero-fee quick buyer like LDN Properties or without any help then you’ll pay no fees.
✅ What is the fastest method available for selling a property with legal problems?
You’ll find that the swiftest way to sell almost any category of property, including a house or flat with legal problems, is by contacting LDN Properties or other quick home buyer, because they can usually finalise the process of buying a home within a handful of weeks. The other typical methods of using an auctioneer, an estate agent or selling on your own can take many months.
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