When you decide to sell your home there are lots of different agents keen for your business so how do you chose the right agent? Armitstead Barnett have long been regarded as a leading rural property agent, with a team of Chartered Surveyors experienced in dealing with a host of matters which can arise prior to and during a property transaction.
A recent property sale which we undertook involved a country home, a cottage and land with planning consent for new build property. As much as this was an exciting instruction, this came with its own quirks. The property was held on one title, had two private drainage systems, a tenant in the cottage, and capital gains tax implications on the sale. So what, you may say?
A property on one title, with more than one residential property, can be an issue with mortgage lenders. To overcome this, we worked with the solicitors to split the title, providing land registry compliant plans and details for registration to ensure that the property could be marketed to the whole market and maximise the value.
Both private drainage systems were non-compliant with the General Binding Rules. One system was shared, and negotiations took place to ensure an agreement was reached to allow the running and operating of this to be formalised and give purchasers peace of mind.
The tenant in the cottage had an Assured Shorthold Tenancy agreement. Whilst not unusual, this restricts the lenders and type of borrowing that the purchasers could use. Our relationships with local mortgage advisors meant that the right type of funding could be obtained, and the property purchase could go ahead.
Once the property transaction had completed the client was liable to pay capital gains tax. Given our expertise and professional standing as RICS registered valuers, we were able to provide a compliant valuation for the split of the value to ensure that the taxation liabilities could be correctly calculated.
No two sales are alike. Our experienced experts have specialisms in dealing with rural property and matters such as the above. Our skills and knowledge are tailored to give you the confidence to trust us with your sale and give you reassurance that we can achieve the very best results.