Sales agent do all it takes to sell leasehold property to home buyers. It’s sales, so it’s positive. Part of the pitch is enticing new home buyers with the idea of owning their own home. A very emotional appeal, and great too. But truly the advice here will be that perspective home buyers should ensure they carry out their own research to ascertain reality complete ownership of properties before further talks and commitments. Only when the home buyer has done due diligence will he be able to either re-sell, renovate or have free access by seeking permission from the freeholder. Even when these changes are minimal like changing the door bell or bringing in a pet, they still need to obtain permission to carryout these changes.
Most home owners who take time to educate themselves about procedures, ownership and other relevant matters avoid future issues. One of such is buying properties with ground rents doubling every 10 years. Care, if taken, helps to avert piles of bills to pay in the near future. While controversies may, although not usual, arise from the leasehold agreements, knowledge and renegotiation are tools for resolution. A leasehold scandal in the late 2016, showed that home owners must shun ignorance of the law and relevant matters to avoid being victims. This can not be overemphasized.Three Major Facts to Note;
Before you commit into paying for a leasehold property, ensure you understand these facts or seek legal advice on grey areas.