What is a Solcitor’s Pre-Auction Report? At a property auction, contracts are legally exchanged and both seller and buyer are committed, with a 10% deposit usually being paid on the day. A sensible buyer should ideally undertake all the necessary checks and enquiries before the day of the property auction to avoid any nasty surprises. The… Continue reading Solicitors Pre Auction Report
After the tenant has become a home owner through exercising his Right to Buy, he has the right to sell the property purchased by him but to exercise this right he is subject to a number of conditions that will be better explained to you by a solicitor ( email us at property@olalelsie.com if… Continue reading Selling your Right to Buy Property
When you complete your Right to Buy purchase, you stop paying rent to the local authority but there are a number of on-going costs associated with home ownership. When considering whether you can afford to buy through the scheme, bear in mind that you will have to make the following payments:- Mortgage Payments –… Continue reading Responsibility and costs of right to buy purchase
You are able to appeal against the Council’s valuation for your home if you are not happy with it. You will need to write to the Right to Buy section within the time period specified in your Section 125 offer notice requesting a District Valuer’s Appeal. (The time limits are strict , so make sure… Continue reading How to challenge your right to buy valuation
If you decide to exercise your right to buy and your claim is admitted by the authority, the authority will arrange for the property that you live in to be individually valued. In normal circumstances, the purchase price that you will have to pay will be the amount the individual place you are residing was… Continue reading Valuation price and discount for Right to Buy
To qualify to claim the Right to Buy, you must be a secure tenant of a local authority and must have held a public sector tenancy for the number of years specified by the authority or council. The local authority can still refuse a tenant from exercising his right to buy if the tenant is… Continue reading Who Is Eligible To Qualify For The Right To Buy Scheme
A Secure Tenant is any individual, whose use of the premises is for residential purpose only and whose landlord is a public body such as local authorities. They are mostly tenants in social housing and Housing Association tenants. Only secure tenants benefit from the Right to Buy Scheme By law a secure tenants have the… Continue reading Right to buy – Secure tenant
Right to buy is a scheme which allows some Council tenants to buy their home at a discount. You must be a secure tenant to take advantage of the scheme In certain circumstances, a secure tenant of a flat, maisonette or bungalow has the right to buy that property at a discounted price. The Right… Continue reading What is Right to Buy? – Buying Property
Following the announcement of the budget yesterday, we have summarised a few points which are worth noting… Corporation tax The current corporation tax rate is 24%. The government has announced that this rate will be reduced to 21% for the tax year 2013 to 2014 and 20% for the tax year 2014 to 2015. Statutory… Continue reading The Budget 2013 – Stamp Duty Land Tax & Corporation Tax
“Off-plan” is a term for describing property that has not yet been built, so it is bought based on the plans i.e “off-plan”. Generally developers invest a lot in buying the land and in constructing the property and it is common practice for them to sell plots, houses and flats even before they are built… Continue reading Buying Off-Plan or New Build Properties
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