Good property management is a good selling point. Purchasers want to know they are buying into a property with a good future, rather than a pile of problems.
The first step in the actual sale process is commissioning a Home Report and completing the Property Questionnaire.
- if your Home Report indicates repairs are needed, try to get them done and keep proof that they have been carried out – the surveyor may be willing to update the Home Report if sufficient evidence is provided
- if you can get repairs started but not finished, make it clear to purchasers that you will cover the cost of repairs by making an agreed deduction from the sale price
- if you have any charges or notices outstanding on your property, explain to potential purchasers that these will be discharged during the sale process
To complete the Property Questionnaire, you will need to do some homework.
- your building’s rules will help with completing Q11 (Responsibilities for shared or common areas)
- for Q12 (Charges associated with your property) you can include the name of your owners’ association as well as your factor’s details
- under Q16 (Notices that affect your building) you will need to give details of any Repayment or Charging Orders and any Notices of Potential Liability
- the cost of dealing with these will need to come from the sale of the flat
All questions should be answered accurately and to the best of your knowledge. If you are unsure, a good estate agent, solicitor, or conveyancer should give you advice on all these points.
