Your handy checklist for a property viewing (freehold and leasehold)
Buying property can be a daunting task, especially in England. The country has an archaic legal process and understanding how leaseholds work can be extremely confusing.
We’ve put together this checklist of what we think are the most important questions you should ask, that hopefully will help you in your search to find and secure the perfect home:
- Why is the seller moving?
- Will there be a chain with this sale?
- Is there a deadline that they need to move by?
- What are the neighbours like?
- How long has the property been on the market?
- Have they received any offers?
Whilst there are plenty of other questions you can and should ask about the property itself (like what improvements have been made? how old things are? when were things last serviced? etc) we feel the above questions are the crucial ones. They allow you to see if your timescales align with the sellers, which not only ensures everyone is on the same page from the beginning but could also help you establish if your position could be attractive to the sellers. This information, armed with your research can help when it comes to placing an offer.
Additionally, if you are looking at leasehold properties, we would recommend adding some questions to the list, so you are aware of any other costs:
- How long is the lease?
- What is the current service charge?
- Does that cost include the building insurance?
- How much ground rent is payable?
- Are they aware of any planned works for the building?
- Do they know when the last lot of works were done to the building?
- Is there a sinking fund for the property?
If you get stuck and feel like you need some advice on any of the above, one of the team would be happy to try and help, whether you are viewing with Mortlock & Joyce or another company– just click the image below.
