There are plenty of costly mistakes that unwary buyers can make if they don't know what to look for when buying a leasehold flat.
Have you ever read a lease? If you haven’t, you’re not alone. Every year thousands of people buy leasehold flats without having much idea of what they’re letting themselves in for. In many parts of England and Wales, if you want to buy a flat, the only option is to buy one that’s leasehold. And the lease is the legal contract you sign up to when you buy. Home information packs (HIPs) provided upfront information about the lease but now they've been suspended you should ask to see the lease as soon as you can.
Wherever you’re looking to buy, your starting point is likely to be the internet – and there are plenty of property websites to choose from
Property websites have revolutionised the way we look for property. They’re definitely the most efficient way of doing your initial ‘window shopping’. There are dozens of different property websites; many of which have different features and different ways of displaying the information about the properties they list. You’ll soon work out which ones you like the look and feel of, but if you’re overwhelmed by the choice, I’ve listed a few that I think are worth looking at.
Getting the best from an estate agent: a buyer's guide
Estate agents are paid for by sellers, but you can get them to work for you
Many of us find out what’s available and how far our money will go by searching online. But when it comes to getting to the front of the queue for properties coming on the market, it’s worth remembering that buying and selling houses is still a ‘people’ business. Estate agents are paid by sellers but you can still get them to work for you, if you’re a buyer. Estate agents I’ve spoken to all say the key is to meet them face-to-face.
