The issue facing flat owners…
If you are the owner of a flat and have been trying to sell your flat on the open market recently, you’ll most likely be aware that the flat market is facing a crisis.
In response to the Grenfell Tower tragedy in 2017, the government has implemented strict guidance on the material and maintenance of cladding used on flats, to ensure that they are not combustible. Any cladding deemed unsafe must be removed, often at the expense of the leaseholders.
As a result, homebuyers are becoming increasingly reluctant to invest in flats in fear of safety or the cladding removal costs, and those who do want to are usually being denied mortgages from lenders.
It is believed more than 30,000 deals have already collapsed due to this issue.
Getting your flat sold…
In order to sell a flat, the government now require an External Wall System survey (EWS1) to be completed on the property. This survey is completed by a chartered fire engineer, and the resulting documentation is needed to prove to lenders and buyers that the building is free from dangerous cladding (or any other combustible materials) in the construction of the property.
The survey will provide a grade: A1, A2, A3, B1 or B2. A1 is the best outcome, confirming there are no combustible materials, and no work is necessary. B2 is the worst outcome, identifying that there is combustible material present and significant remedial work is required.
Unfortunately, there is currently a large backlog in these surveys being completed, and flat owners are waiting extended periods of time to get their completed EWS1. And even with a completed survey, buyers remain apprehensive about purchasing flats, particularly if they don’t achieve that top A1 grade.
Even other cash buying companies are currently saying no to flats with cladding.
WeBuyAnyHome can help
At WeBuyAnyHome, we recognise how difficult this situation is, and we can help. We can purchase flats that have cladding.
If you have an EWS1 form completed, we will use the grade, and any itemised costs within it to make you as accurate an offer as possible. We can then purchase the flat in as little as 7 days.
If you have not had an EWS1 form completed, we can still purchase the apartment, however this would be at much less than the market value. Of course, should the EWS1 form be completed in the meantime, we would increase our offer to reflect the grading.
Maximising your flat sale price
Whether you have completed an EWS1 survey or not, we will have to take into account the forecasted costs of cladding removal, and the risks associated with us buying the apartment when we calculate our offer.
So, whilst we can provide flat sellers with a way out, the offer may be much less than market value, and that is why we are happy to offer a profit share agreement. >
This means that when we come to sell the flat on ourselves, if we achieve a higher amount than we expected, we’ll give you a share of the proceeds.
So you can move on with your lives now, whilst being certain that you got the best possible value that we were able to give.
If you would like to sell your property with WeBuyAnyHome, just pop your details into the form below.
How our process works
Each stage of the flat selling process is highlighted below to give you an overview of how simple and fast our service is. You could have the cash in your account in as little as seven days.
What happens next?
The cheapest way to sell your flat fast
If you don’t want to pay any unnecessary fees when you sell your flat, get in contact with us today. As well as offering a no-fee solution to selling your property, the advantages of selling with us are…
- We provide a fast and easy way to sell your flat.
- We use our own cash funds which means we can buy your property now.
- We offer the quickest way to sell your flat – we can complete in as little as 7 days.
- We are the market leader when it comes to the cash home-buying sector.
- We are a founding member of the National Association of Property Buyers (NAPB) and members of The Property Ombudsman (TPO), meaning we follow strict guidelines and offer maximum protection to house-sellers.
WeBuyAnyHome have had adverts featured on TV channels such as ITV and Channel 4. We have also been featured in national publications such as The Sun, The Daily Express and Hello!
Simply enter your postcode into the cash offer tool or hit the cash offer button below.
Start with a free cash offer…
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What can I say. James made the transaction very easy with his knowledge and enthusiasm. Always there to help every step of the way. Highly recommend the man.
Not sure about using this kind of service but we both had the experience that we thought maybe would be full of unexpected issues but no we were contacted the whole way though the buying experience. First class service from start to finish.
Ryan and Abbey were brilliant, kept a positive attitude when things slowed down and I would recommend using we buy any home to anyone.
From start to finish Ryan gave fair and honest support with every stage of the process thank you for making the house sale so simple and will absolutely recommend you and your team to anyone. Well done.