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Newby with few questions please

 
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T-rev



Joined: 16 Mar 2017
Posts: 8

PostPosted: Fri Mar 17, 2017 8:58 am    Post subject: Newby with few questions please Reply with quote

Hi all very new here, after three attempts at spelling Asterick I finally got in!!

We are going tomorrow to look at house that is already used as holiday let.

Any suggestions on what to look out for and questions to ask,,

Is it acceptable to ask to see booking for last two years?

After purchase How long to get it rented, it is already with a agent.

We love abroad so house would be fully managed for us, any advise on this please, ie use letting agent for this or fine our own?

Quess OK to ask to see electric and gas inspections etc.

Sure we will have loads more questions later

But thanks in advance
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akwe-xavante



Joined: 01 Jul 2015
Posts: 205
Location: Hornsea

PostPosted: Fri Mar 17, 2017 9:39 am    Post subject: Reply with quote

Good luck.

It would help if we knew where in the world the property is, Country and town?

I can see no reason why it would be unreasonable to ask for the properties booking history indeed all the accounts for the property. Depending on where it is I would want to see title registers too to find out if there are any issues there.

Even though the property is already with an agent I suspect that you'll have to start again (New Contract) but you have the benefit of its existing exposure to the market with that agent.

Who is the existing letting agent?
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T-rev



Joined: 16 Mar 2017
Posts: 8

PostPosted: Fri Mar 17, 2017 9:55 am    Post subject: Reply with quote

House is sw uk,

Current agent is holiday cottages.com

Thanks
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akwe-xavante



Joined: 01 Jul 2015
Posts: 205
Location: Hornsea

PostPosted: Fri Mar 17, 2017 10:16 am    Post subject: Reply with quote

I am with cottages.com and can recommend them.

In the SW UK you should do well as Devon, Cornwall, Somerset and Dorset are very popular.

You'll find that the more vague you are with your questions and info you give us the less helpful we can be to you. The more info we have from you the more helpful we will be because we'll be more informed and therefore more helpful.

If your property is nestled in with lots of others close together in one of this areas seaside villages or towns I'd want to know if there are any "Rights of Ways" and or contractual agreements with the neighbours within the properties and the neighbouring properties title registers before I bought.

If your main residence is overseas and you unfamiliar with our countries ways I would familiarise yourself with what freehold, copyhold and leasehold means and find out which one it is.

Familiarise yourself with our taxation system too. OK again I'm assuming that you either live abroad and your buying here in the UK or you live in the UK and you spend a lot of time abroad.

Being Vague doesn't help!

Good luck though.
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Giraffe



Joined: 26 Jun 2016
Posts: 309
Location: Cornwall, England

PostPosted: Fri Mar 17, 2017 3:26 pm    Post subject: Reply with quote

I would suggest that the first thing to do is to check that there are no legal restrictions on the property being used as a holiday business. Although the current owners have been letting, you need to double check. There has been recent LMH discussion on this but I can't remember where.

If you will be an off site owner, as I am, you will need a local manager to manage the property for you throughout the year. I visit my property several times a year to organise planned alterations and maintenance. Then there are the unexpected problems that need to be quickly dealt with when visitors are there. You may be able to find a good local agent who does both bookings and management. The big national booking agents will not manage your property, so you would then need to find a separate manager. Can't advise you which route is best - it depends on who you can find locally.

As for information from the sellers, I would assume this depends on whether they are selling the property as a running business, or as a private property. Although if they are anxious to sell they should provide as much information as possible.
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casasantoestevo



Joined: 06 Nov 2006
Posts: 3791
Location: O Saviñao, Galicia

PostPosted: Fri Mar 17, 2017 9:37 pm    Post subject: Reply with quote

but you cannot expect to see "the Books" on first viewing. This is normally a quick glance at the property. Asking for books on the initial visit is going to waste everyone's time.
Besides they may not be kept on site.
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isaxby



Joined: 20 Apr 2016
Posts: 20
Location: Brixham

PostPosted: Sat Mar 18, 2017 1:52 pm    Post subject: Reply with quote

We have a holiday let in Devon which was previously let through an agency. The estate agent had the last 3 years figures available when we viewed so you could be lucky, if not just ask them to get them from the letting agency (around here the Estate Agents have contacts within the letting agencies so it is normally easy enough).

We stopped using the agency as their fees are extortionate (about 33% if you add in all the things they forget to mention) but I guess you don't have a choice.
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T-rev



Joined: 16 Mar 2017
Posts: 8

PostPosted: Sat Mar 18, 2017 2:28 pm    Post subject: Thanks Reply with quote

Thanks for all the help and advise, unfortunately we had to cancel the viewing due to a very sick pet, so hopefully when she is fully recovered hopefully next week, we will view then, we are very limited time wise due to having to go back to Portugal at the end apr, hence needing to get everything in place ASAP, thinking in advance all our paperwork etc, is with our lawyer so we are ready to move if property is suitable.
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