A people-first estate agent in Basingstoke & surrounding villages

Basingstoke and surrounding villages, including Oakley, Overton, Wootton St Lawrence, Sherborne St John, Bramley, Cliddesden, Sherfield on Loddon.

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When you apply for a mortgage, your lender will usually require a property valuation to be carried out on their behalf. This is to ensure that the property is worth the amount that you are borrowing. However, it is important to note that a basic valuation does not provide a detailed inspection of the property's condition. Therefore, it is highly recommended that you obtain a full condition report from a chartered surveyor. This report will provide you with a more comprehensive understanding of the property's condition and any potential issues that may need to be addressed. It will also give you peace of mind that you are making a sound investment. Without a full condition report, any problems that arise with the property after exchange of contracts are the responsibility of the buyer. So, it's essential to have a professional inspection done to avoid any unpleasant surprises down the line.

Most houses are freehold (some shared ownership may not be), so the freeholder owns it outright, including the land it is built on. You are responsible for maintain your property and land. With a leasehold, you own the property for the length of your lease agreement term with the freeholder. Most flats/maisonettes are leasehold, so you own the property in the building but not the actual building or land. This means that the freeholder is, normally, responsible for the maintenance and repair of the building. Some houses might be sold as leasehold, if this is the case then you own the property, but not the land it is on. When you buy a leasehold property, you’ll take over the lease from the previous owner. Before making an offer consider; • How many years left on the lease • Budget for service and maintenance charges, including any future increases that are written into the contract • How the length of the lease might affect getting a mortgage and the resale value When buying a leasehold property, it is important to consider the length of the remaining term of the lease. As time passes, the value of the property is affected by the diminishing term of the lease which could make the property more difficult to sell. Typically it is a good idea that the lease has at least 80 years remaining, or you might struggle to get a mortgage.

Determining the market rental for a property is one of the most important decisions to make when letting a property. The level of rent that can be achieved is dependent upon a number of factors including the economic climate, supply vs demand and location. Jacobs have valued and marketed hundreds of properties over the last 25 years helping landlords to maximise their return on investment. Book a valuation with Jacobs today.