Selling an Uninhabitable Property

There may be many reasons why your property is uninhabitable, but you are usually able to find a buyer quickly if you follow some simple tips.

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Your top questions when selling an uninhabitable property

✅ How do I know whether I own a property that is considered uninhabitable?

Generally, a property is considered to be uninhabitable if it has some structural problem or lacks a certain feature that makes the home effectively unsafe or otherwise unfit for people to live in. Reasons why a flat or house might be deemed to be uninhabitable can include inadequate ventilation, not having any kitchen or other place to prepare food, being unstable, and more.

✅ Are there any good reasons why someone might want to buy an uninhabitable home?

Yes, there are several situations in which a buyer might see your uninhabitable house or flat as a good investment. They could plan on purchasing your property and investing in a complete renovation, and then trying to sell it at a profit in the future. Or they might be looking to demolish the home entirely and then build a brand new home on the land that will make them a profit.

✅ Will a buyer be able to obtain a mortgage to buy my uninhabitable property?

One of the biggest problems with trying to a sell a house or flat that is uninhabitable is that a private buyer may not be able to qualify for a mortgage to cover the cost of purchasing the home. That’s because home loan lenders might believe that they won’t be able to recoup the cost of the mortgage if the owner defaults on the loan and the lender has to sell the property.

✅ Should I invest in renovating my uninhabitable home before trying to sell it?

It depends on the condition of your property and other factors such as how much time, money and effort you are willing to spend on repairing whatever issues are currently making the flat or house uninhabitable. But generally, you are not required to repair an uninhabitable property before you attempt to sell.

✅ What is the typical timeline with trying to sell a property that is uninhabitable?

The schedule for selling your uninhabitable home will vary based on which method you choose for trying to find a buyer. Selling on your own or using an estate agent are typically the slowest options because they can take more than an entire year, and an auction will often take several months at least. A fast buyer can be the speediest option as it usually takes just a few weeks.

✅ How much commission will I be required to pay when selling my uninhabitable home?

If you use a trustworthy quick buyer to sell your property or try to find a buyer without any assistance, you won’t have to pay any fees. However, estate agents and auctioneers will usually charge commission as a percentage of your home’s sale price.

✅ How can I be assured that a fast buyer can be trusted when selling my property?

Ask individual fast property buyers if they are members of The Property Ombudsman (TPO), which is a third party organisation that writes policies designed to guard homeowners against fraud in the quick buying sector. Be wary of selling your home to a company that is unable to prove it belongs to TPO or refuses to join, because these might be scams.

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