No asking price stated but offers are invited in writing.
There will be a set time and date for the offers to be opened and it will usually be in the presence of the vendor's solicitor.
It is important that the potential buyers have done there due diligence before hand and had appropriate surveys done etc, as normally an acceptance of an offer by the vendor constitutes an immediate contract.
It is also important from the vendor's point of view that they have reserved the right to refuse the highest offer.
Amount of time granted for renting a property
To die leaving a valid will: opposite meaning is to die intestate.
A joint ownership of property where numerous owners enjoy use or occupation of the property according to a specific schedule of time.
Legal documents that describe the rights and the liabilities that are attached to a property. They also prove ownership of a property.
Legal document used to create a trust.
Offer accepted by the vendor but contracts have not been exchanged. At this stage either part can still withdraw.
The property is vacant as the previous occupants have either already moved out or must vacate the property before you move in.
An independent assessment of the value of a property carried out by an approved surveyor, normally RICS certified.
Although normally required and organised by the lender, it is paid for by the customer and used by the lender to decide how much they are prepared to lend. You may also choose to arrange a more comprehensive survey for your own purposes.
Fee charged for obtaining a valuation from a surveyor.
The person who is selling a property.
When you use creative financing to get the vendor to pay the deposit or part of the deposit for you.