Sell Your Leasehold Home
Learn what information you’ll need when selling your leasehold property and how Redwing can support the process.
Selling Your Leasehold Home
Selling a leasehold property is similar to selling any other home, but there are a few extra pieces of information that buyers, solicitors and mortgage lenders may need along the way.
Understanding what’s involved early can help make the process smoother and help avoid delays later on.
Whether you’re moving to a new home, downsizing or simply exploring your options, we’re here to help.
What Leaseholders Need To Know
Before You Put Your Home On The Market
One of the most important things you can do before selling is gather information about your property and lease.
Buyers will often want to know:
- How many years remain on the lease.
- Current service charges.
- Buildings insurance arrangements.
- Any planned major works.
- Any permissions granted for alterations.
Having this information ready can help speed up the sales process.
How Does Selling A Leasehold Property Work?
Arrange A Valuation
The first step is understanding what your property is worth. A local estate agent cna provide a valuation based on current market conditions and comparable properties in your area.
Put Your Home On The Market
Once you’re ready, your property can be marketed and viewings arranged.
Potential buyers may ask questions about the lease, service charges and management of the building, so it’s useful to have this information available.
Provide Lease Information
As part of the legal process, your solicitor will usually request information relating to your lease and the management of the building.
This may include:
- Lease details.
- Service charge information.
- Buildings insurance details.
- Information about any major works.
Legal Process
Once an offer has been accepted, solicitors will carry out the legal work required to complete the sale.
We’ll work with your solicitor where required to provide property and management information.
Completion
Once contracts have been exchanged and the legal process is complete, ownership of the property transfers to the buyer and the sale completes.
Time for your next chapter!
Frequently Asked Questions
Our frequently asked questions provide you with answers to some of the most common questions around selling leasehold properties.
Can I sell my leasehold property?
A lease is a legal agreement that outlines your rights and responsibilities as a leaseholder, as well as the responsibilities of the freeholder or managing agent.
Will buyers want to know how much time is left on the lease?
Lease lengths vary from property to property. Your lease agreement will confirm the exact remaining term.
What information will be needed during the sale?
You may wish to explore a lease extension. The options available will depend on your circumstances and the terms of your lease.
Will Redwing provide information to my solicitor?
In many cases, yes. However, some works require permission before they can be carried out.
Can service charges affect a sale?
Service charges help cover the cost of maintaining and managing shared areas and communal services within your development.
Do I need to extend my lease before selling?
Get in touch. We’ll do our best to explain things in plain English and help you understand what applies to your home.
Thinking About Selling?
If you’re preparing to move and need information about your lease, service charges or management arrangements, our team is here ot help.