Skip to main content Skip to footer

How is vacant possession value of a house determined ?

Asked on Mar 5 2011, House Prices in Birmingham | Report content

Answers (2)

Was this question useful? Yes 1 No 0

Sort by: Oldest | Recent | Highest rated

  • If by the time you sign contracts there will be no one living in the property, you may be selling a house because of a death in the family this would be sold with vacant possession providing there will be no one living in the property, if you have bought a house to let and you have tenants then you would sell the house with sitting tenants, this is ideal for investors as they do not have to find a tenant and the income they would receive is from the start. Beware selling property with tenants on a vacant possession term as many tenants are in receipt of an assured shorthold tenancy from a given date so you may find that the tenant has a right to be there after completion, unless you know that your house will be vacant come a completion date then y ou will not be able to advertise with a vacant possession.

    Answered on Mar 6 2011, Report content
  • Vacant possession value of a house/ flat is normally determined by referance to recent sales of similar properties locally. If though a retrospective valuation is required the comparable evidence should preferably be contemparaneous.

    Answered on Mar 6 2011, Report content

Didn't find what you were looking for? Ask a question

More House Prices in Birmingham questions on AskMe

See more AskMe Q&A about House Prices