In the UK, a leasehold property is one where the homeowner owns the property for a fixed period of time, typically 99 or 125 years, but the land on which the property is built remains owned by a freeholder. The leasehold property owner is required to pay ground rent to the freeholder, who is responsible for maintaining the land and any communal areas. In contrast, a freehold property is one where the...
A Condition Report is a type of property survey that provides a basic assessment of the condition of a property. It is designed for properties that are relatively modern, in good condition, and require a simple overview of their condition. A Condition Report is usually carried out by a qualified surveyor and includes a visual inspection of the property and an assessment of its condition. The report...
A Homebuyer Report is a type of property survey that provides a more detailed assessment of the condition of a property compared to a basic mortgage valuation report. It is intended for properties that are relatively modern and in reasonable condition. A Homebuyer Report is typically carried out by a qualified surveyor and includes a visual inspection of the property and an assessment of its condition....
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