Selling Ground Rents

When you decide to sell your ground rents some consideration should be given to ensuring the management accounts are up to date so that the transfer of the freehold can take place without any hiccups. Generally speaking most landlords wait to receive an offer for the freehold before issuing section 5 notices.

You may issue section 5 notices before you receive an offer but if you are too optimistic on the price the notices were served at you will have to serve them again. You may sell the building for more than the section 5 notices were issued at but you can’t sell for less.

If you are selling ground rents please get in touch. We are very happy to discuss with you the process of selling ground rents and what you can and can't do.

Selling Ground Rents Getting Ready To Sell

It is a good idea to ensure your solicitor has the necessary documentation in order to sell. As soon as the notices expire most buyers will want to crack on with the sale as a delay is in nobody’s interest. No mortgages are involved so there are not normally any third parties that can hold matters up.

Selling Ground Rents - Is It Time To Sell?

A transfer of the freehold is not a complicated transaction as long as you have the required paperwork to include service charge counts if applicable along with copies of the building insurance schedule and up to date ground rent receipts. I

f you are not sure what to do next and you require some help we would be glad to help.

Quick Completions.

In many cases it will be possible for us to complete the transaction very quickly. However this an only be done if your solicitor is able to provide us with all of the necessary paperwork. We have cash funds available for immediate completions