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Do you need to sell a house quickly due to problem neighbours? Fri, 21 Mar 2014 16:17

It's the situation that everyone dreads when moving home... you've made an offer that has been accepted, the conveyancing process has gone without a hitch and you are finally handed the keys. However, very shortly after settling down in your new living room, you hear commotion next door - and soon realise that you have been landed with the neighbours from hell.

 

You may need to sell the house quickly, but admitting the neighbour issue to prospective buyers can be terminal to your chances of selling, or at least give you a much weaker hand in price negotiations. You may not have even secured a mortgage on the property if the valuer had been aware of it. As much as you may need to sell the house quickly, it may be advisable to first pursue the vendor for financial compensation reflecting the loss that you would make from a sale.  

 

A few years ago, it was reported that a buyer had taken this step after their inadvertent purchase of a property next door to a man with an ASBO. They claimed that instead of the £180,000 price that had been agreed, the house's true value was £94,500, demanding that the vendor pay the difference. If the problem is such that you really do need to sell the house quickly, you could sell first, and then make a claim to your predecessor for the difference later. This strategy would depend on demonstrating that you would not have bought the house if you had been aware of the issue. The vendors could then be pursued for additional costs and the decrease in value.

 

Many home owners choose to sell their house quickly for several reasons, however the most common are: Buying a dream home, or making home improvements, buying a new car, selling with sitting tenants, debt or divorce or selling probate properties. 

 

If the need to sell the house quickly, you may think that you could just decline to mention the neighbour issue? The short answer is "no". At the time of selling, you will be required to complete a Seller's Property Information Form, stating whether there have been any disputes with neighbouring houses. Even issues with the potential to cause a dispute need to be stated. If you keep quiet in the face of an obvious problem, you're effectively committing fraud by preventing an informed choice being made by a potential buyer. That could mean ending up in court.

 

As unfair as this seems, there is at least an alternative, should you need to sell a house quickly: getting in touch with a firm like Dream House Buyer about a quick, guaranteed sale.



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