Selling a Top Floor Flat

A top floor flat can often be an attractive property for many prospective buyers but there are still some possible downsides with this type of home that could complicate your attempt to sell it.

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Your top questions when selling a Top Floor Flat

✅ What is the general definition of a top floor flat?

As the name suggests, this is a leasehold flat that is located on the top floor of a building. This type of property is sometimes also referred to as a penthouse, although that term might be reserved for higher end homes. If you have a top floor flat then this likely means that there are several other flats in the same building and you likely have a neighbour on the floor below.

✅ What are some reasons why a buyer could want a top floor flat?

There are a number of explanations for why someone could want to own a top floor flat compared to one on a lower floor of a building. One such reason is that the flat will have better views than other units in the building, another justification can be that the buyer does not want to have anyone living above them because they are worried about possible noise issues.

✅ Are there any concerns for buyers about owning a flat on the top floor?

Whilst buyers might view a top floor flat favourably for several reasons, they could also be wary about making an offer on this type of home. Some downsides of this property can include if it is several floors high but there’s no lift and it can only be accessed by stairs, if the flat has previously had a leak in the roof or currently has one, and a number of other concerns.

✅ What are some ways to prepare my top floor flat when selling it?

Perhaps the most important step that you can take is cleaning your property thoroughly before you attempt to sell it, which means removing all of the clutter from rooms to make them as spacious and tidy as possible. Although there is not much work you can do outside the property, you can still potentially give window frames a fresh coat of paint and fix any broken glass.

✅ What choices do I have to find a buyer for my top floor flat?

There are four standard options available for selling a top floor flat or any other type of home, and these are contacting a quick buyer such as LDN Properties, selling at an auction, selling with an estate agent or selling without any assistance. There are prominent advantages and disadvantages with each of these choices in terms of time taken, cost and other factors.

✅ How much will I pay in commission when selling a flat on the top floor?

Selling to a no-commission quick home buyer like LDN Properties will ensure that you do not have to pay any fees, so you can count on receiving the full proceeds. The same is true if you try to sell your flat on your own, but you will pay commission if you sell at an auction or via an estate agent and this fee will add to your costs because it will be taken out of the sale proceeds.

✅ What is the typical schedule to find a buyer for a top floor flat?

This will change depending on which approach you use for selling your home, with the slowest choice being selling through an estate agent or on your own because either of these methods may take more than a full year. Selling at an auction is next slowest as it will take several months, whereas a quick buyer will only take a few short weeks to purchase your property.

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