Leasehold property : can be a nightmare but can also be your friend, but it pays to listen to an Agent that understands the Local Property Market . Its a shame that this property is still on the market but we know why!
Its amazing that his is the THIRD yes THIRD time we have mentioned this one!
A lovely opportunity to buy a perfect Buy to Let Investment which willlet no problem at a great rate. So whats the issue ? Its the length of lease , its too short which will affect the potential for resale. It will not attract First Time Buyers as it will difficult to get a mortgage.
And unless they are cash buyers, then Buy to Let investors will either give this property a wide berth. Or want it at a bargain basement price.
There are two others currently on the market around the £130k mark. So rather than listen to the “flannel” from the agent, this owner needs to renew the lease. Yes it means spending a bit ,but the property then may sell
Question will we be here in another years time !?