If the lease on your property has less than 80 years on it left to run then you may have difficulty finding a buyer unless you extend it.
This can be a lengthy and costly process - often costing £10,000+, but is often necessary if you are looking to sell through the traditional estate agency route.
We are a cash property buying company - meaning we buy homes fast for cash.
We regularly buy flats with short leases, without requiring you to pay for a lease extension before the sale takes place.
Contact us to find out more information or how much we will pay for your flat.
If your flat has a lease under 80 years then it could cause various problems for you. These include:
If you do decide to extend your lease then you should find a solicitor who has experience in extending leases. If others in your building are in a similar situation you could consider collective enfranchisement where you can force the freeholder to sell to you.
Short leases can cause real problems when trying to sell a property. If your lease is approaching 80 years left then you should act fast.Jonathan Rolande - Director
We are not put off buying a property because it has a short lease.
At House Buy Fast we offer an alternative to the traditional estate agent route. We pay cash for property using our own funds and can buy your flat quickly or in a timescale to suit you. We make a guaranteed offer - meaning we won’t pull out of buying your flat. We also cover all solicitor fees and there is no cost to use our service.
We will pay under market value for your flat. A flat with a short lease will never get market value due to the costs and issues associated with extending a lease. When considering whether to sell your flat to a cash property buyer you should consider the costs associated with selling your flat through other methods - such as estate agent fees, the price reduction for having a short lease and any costs for cosmetic repairs.
As a guide below is a table of costs for selling your property to us and through an estate agent.
Compare the cost of selling your home with traditional Estate Agents and Property Buyers.
| Selling to us (3 days+) | ||
|---|---|---|
| Selling via Estate Agent (6 months+) | ||
| Asking Price | £100,000 | £100,000 |
| Average agreed purchase price | £77,000 | £95,000 |
| Final agreed price after survey | £77,000 | £90,000 |
| Estate Agent fees | £0.00 | £1,890 inc VAT |
| Cosmetic repairs (if required) | £0.00 | £750 |
| Solicitor fees | £0.00 | £1,000 inc VAT |
| Council tax and other bills (while sales is going through) | £150 | £1,800 |
| Average Mortgage payments (while sale is going through) | £0.00 | £3,600 |
| Net price achieved | £76,850 | £80,960 |
*These figures are for guidance only, individual sums can vary.
Review
They were trustworthy, reliable, honest, accommodating and very flexible. Duncan has been extremely patient and helpful. Highly recommended.
Client in Colne, Check A Professional reviewSelling a Flat With a Short Lease
What If My Situation Changes and I Don't Need to Sell My House Fast?
If your situation changes and you no longer need to sell your house that’s completely fine.
Remember, we pride ourselves on making the whole process zero risk and zero fees to the seller. We’ll even cover the costs of your solicitor until that point, so there is nothing for you to worry about if your circumstances do change.
Not the answer you were looking for? Contact us and ask us directly either by email or phone.
What Are The Pros & Cons of Using a Cash Property Buyer?
There are many differences between our property buying service and traditional estate agency. We’ve listed just some of the pros and cons below.
Pros:
Cons:
Not the answer you were looking for? Contact us and ask us directly either by email or phone.
How Does House Buy Fast Work out the Value of My Property?
Our team of trusted property valuers have over 50 years worth of experience, and use valuation tools that are only available to our company. This will be your preliminary house valuation that we will offer to you within a day.
We will also send an independent surveyor from RICS to take a look at your home for any unseen problems. The independent surveyor will then provide House Buy Fast with a formal valuation which we can use to put forward our offer on your property. A formal valuation of your home can take up to two working days.
Not the answer you were looking for? Contact us and ask us directly either by email or phone.
Does House Buy Fast Charge Any Fees or Costs?
We don’t charge you a penny when using our property buying service. House Buy Fast also covers all the house valuation fees - and don’t forget you’ll be saving money that you would otherwise be paying to an estate agent.
This means once you’ve received your property valuation you know that this is the amount of money you will receive at completion - no fuss - no fees.
Not the answer you were looking for? Contact us and ask us directly either by email or phone.
Are House Buy Fast a Member of Any Professional Body?
We’ve been industry leaders in promoting a fair deal for sellers in the property buying sector, appearing on ITV pressing the issue.
We are members of The Property Ombudsman Scheme, meaning there is a form of redress if anything goes wrong with a property buying company.
We’re also founding members of The National Association of Property Buyers which was formed in 2013 to improve standards in the quick house sale industry and helped many sellers get a fair deal.
Not the answer you was looking for? Contact us and ask us directly either by email or phone.
You should always seek independent legal advice before selling your property
If you’re not satisfied with the service provided by a quick house sale company, you can
refer the matter to the following regulators and redress schemes.
Three bedroom terraced house with lounge, family room, kitchen and bathroom.
A 1985 built three bedroom detached house with single garage and small rear garden.
The seller wanted complete certainty of sale on this detached 4 bedroom house.
