UK Real Estate News, Hints & Tips

Did you know that one of the things to be aware of when buying a property is the flood risk? Property does not need to be near a river to be at risk of flooding. The government has a flood risk map that you can use to see if an area is at risk of floods....The FEMA Flood Map Service Center (MSC) is the official online location to find all flood hazard mapping products created under the National Flood Insurance Program, including your community's flood map. Check it out here: https://www.gov.uk/check-long-term-flood-risk

Given the cost of living crisis at the moment, many people are choosing to not heat their homes as much as they may have done in previous years. Many years ago, before central heating was widely used, houses were built to allow air to circulate. However, more modern homes are not built in the same way and so black mould can occur, especially during the winter months. To reduce the risk of mould in the home, there are some things that you can do including wiping condensation from windows, trying to allow ventilation by opening some windows in moisture-prone areas, using lids on pans when cooking, when possible dry clothes outside (although this is not often in the winter in the UK), keep humidity levels in your home as low as you can—no higher than 50%–all day long. Clean mould when you see it as soon as you can using appropriate products, and taking appropriate safety measures. Mould is not good for your health. When looking to purchase a property, if you notice mould, check the reason for that mould. Is it due to the lack of heating, or could it be caused by a leak or something else?

Sale fallen through? That can be so disheartening, not to mention very inconvenient! If the sale has fallen through because the buyer is no longer able or willing to pay the agreed price, decide if you are willing to accept a lower price or not. It could actually be cheaper to accept a lower price than to put your house back up for sale. If it’s a problem with your property decide if you are willing to fix that problem if you can. Or you could offer to reduce the price by the cost of the repairs. Be aware of ‘gazundering’ This is where a buyer agrees on a certain price and then deliberately reduces it at the last minute. Conveyancing delays could also be a problem so try to get all the parties involved to come together and see if anything can be done to speed things up. If a buyer may need to complete a chain consider what you can do to help mend the chain. You could also take your property to the auction or find another buyer. If you would like to learn more about how we could help, why not get in touch today or visit our website for further information. I have tools in my toolbox others don't and are happy to share those options and solutions to assist your sale. dennis@mauinvestments.co.uk

When choosing your new home, you need to check out these things when on a viewing Top things to check when on a property viewing •Keep an eye out for signs of damp. The main giveaway are a mouldy smell, flaky plaster, and watermarked walls or ceilings. •Is the building structurally sound – look for hairline to big cracks, ask how old the roof is and check the state of the window frames. •How much storage space is there, what’s the attic like and are the rooms big enough for your needs? •Are there enough power points and what condition are they in? Is the plumbing up to scratch – check the radiators, the boiler and state of the pipes •Which way does the house face – does it get sun? Take a compass to find out. •Is the property sound proofed •Check out the area. Is it noisy, any local rubbish dumps near, are shops, transport links and schools nearby. Is the area a conservation area and if so what rules apply? If you do like a property, arrange another viewing for a different time of day, and scout out the local area a bit more. •Personally I often use Google street view/maps to explore the area and get the Agent to virtually show me the property together so its like being there in person.

One important lesson I learned on my property journey when I was a Real Estate Agent, was to never trust the sale had been finalised until completion. Anything can happen between an offer, exchange and completion. The deal could fall over at any time. For example, the buyer may not be able to raise the funds, the survey may come back as being unsatisfactory or the buyer may simply change his/her mind. The seller may even change his/her mind. That’s why is always important to follow up and be on top of the process at all times.

If you own a buy to let, do you use a letting agent, or do you manage yourself? Here are the pros and cons of self management PRO’s of using a letting agent: 1. Using a letting agent frees up a landlord to develop their property business by giving them more time to buy, develop and build up their portfolio. 2. Letting agents in theory should be skilled in managing rental properties. For example they should know the vital aspects of landlord and tenant law and legal aspects, which means that they can avoid some of the management problems where a landlord is unfamiliar with 3. They will have a number of contacts in the letting world: trades people, plumbers, gardeners that they can call on and get a problem fixed. 4. They have access to more routes to market and able to get your property to market more quickly and more effectively than relying on your own efforts. 5.They can filter out inappropriate tenants. And ask for references. CON's of using a letting agent: 1. They can be costly even if they say they can achieve higher rent – anywhere from 8 to 20%.so shop around. 2. They will save the landlord a huge amount of time with a full management service. The letting agent collects the rent; deals with tenant questions and maintenance issues as well as setting up the tenancy in the first place. 3. How knowledgeable are letting agents? Unfortunately, many letting agents know far less than they should about tenancy law and procedures. So check them out first. 4. Let’s face it this is the age of the Internet. Landlords can now market their property for a few quid. And often its better to do the viewings yourself so you meet the tenants.. 5. They don’t know your business. Need to discuss? - Get in in touch. Be happy to help.

Property prices are cyclical, and will go down as well as up, however, so far in history, they have been on a general upward trend. Currently in the UK property market ...most forecasters are saying that UK house prices are expected to fall by around 5% to 10%, as the market rebalances after years of growth, and as mortgage rate rises, inflation the and cost of living pushes prices down. Unemployment is also expected to rise to about 5.5%. In addition, the government is actively working with mortgage lenders to avoid additional stress on borrowers, so we hopefully the number of forced sales will be relatively small and the lack of supply, combined with the strong underlying demand for homes, will ultimately insulate the market from any dramatic falls in prices. Previously the coronavirus pandemic had fuelled a mini housing boom as flexible and home working led to an increase in sales of larger properties in more rural and idyllic settings leading to an approx. overall 23% increase and on average pushing values up £12,000 on a year ago. . Overall 2023 to be characterised by a slower property market during which about 25% fewer properties will come on to the market and change hands compared to a ‘normal’ year. Moreover while inflation as a whole may be close to or at its peak, household energy bills are likely to rise again, putting more pressure on household budgets. However, there is still uncertainty around this forecast and its always important to realise property prices are cyclic and one should always look at investing for the long term.

During my career, I have helped others who want to get involved in property. I enjoy helping others on their property journey. Once people realise that only 5% on average understand that the path to financial security and independence is not trading time for money, saving money in the bank which is losing value, their life changes. Sandra and Steve asked my advice with what to do with their limited amount of savings. They were a couple who did not have the knowledge, the time or a plan but wanted to get on the property ladder. With my help they purchased a BTL and are now on their way to creating a property portfolio and their financial independence for their future. If you want to do the same get in touch - be happy to help. dennis@mauinvestments.co.uk

Properties sold in the UK may be freehold or leasehold. Here is what both of those mean and my thoughts on buying a leasehold property... When you buy a property freehold, you own the building and the land it’s on until you decide to sell it. If you buy a property freehold, it means you completely own the property and the land it sits on and are responsible for all costs relating to the property. Its is also called ‘fee simple’. But if you buy a property leasehold, you own only the building (not the land it’s on) and only for a set number of years. When the term of the lease expires, the property will belong to the landowner unless you can extend the lease. The closer you are to the lease expiry date, the less valuable the lease becomes, Newly-created leases can be anything from 99 or 125 years to 999 years. If a lease has less than 80 years left to run, it may make the property hard to sell, and it may even be difficult to remortgage. With leasehold you do not own the land the property is on, and if it’s a flat you don’t own communal areas such as stairs or hall, nor the structure of the building itself. Normally, leaseholders pay fees to the freeholder. But government legislation coming into force on the means that ground rent charges will be banned on most new residential leases and retirement properties, which will put an end to annual ground rent increases. A lease will also tend to include certain restrictions; for example, you may not be allowed pets, and you may need to ask permission to make changes to the property. If you break any conditions you could be taken to court and may risk losing your lease. The freeholder is usually responsible for buildings insurance (though not contents insurance). And the freeholder should consult with you on certain maintenance costs and some charges you can challenge if you disagree with them. As a leaseholder, you also have the right to demand the freeholder’s management of the lease be transferred to a ‘right to manage’ company set up by you and other leaseholders. Contact me if you wish to learn how to Title Split to substantially increase your profits on your next investment. dennis@mauinvestments.co.uk

You matter to me. I care. Since 2000, I have been a successful business owner, ex Real Estate Agent and now Property Investor who has been involved in property for many years. This has given me a wealth of knowledge and experience which I can share with you. This means when it comes to property you are in good hands and can be assured all business is done professionally, ethically, morally. I like to treat everyone the way I like to be treated. In other words, everyone knows what is required, there is no BS and expectations are met. In addition, clear, transparent and effective communication ensures a win - win for all. I have a full and highly local experienced power team around me, who have the same mindset as I have, to offer a one stop solution and make the process as seamless as we can. It is one of the key cornerstone to the success of the business. There is always a huge amount of work and due diligence involved in securing any property. From the initial communication with the seller we will have a very good idea about the area, price, demand, yield and capital growth, as well as being in the right condition at the right price. My goal is to surpass your expectations by going the extra-mile to get the best possible results for you as an investor or in helping sell your property if needed. I am a down to earth guy with a genuine approach without all the hype. Add to that a real sensitivity to my clients’ individual needs with an ethos of respect, discretion, and integrity. Book a virtual coffee with me today - I would love to chat. Email dennis@mauinvestmetns.co.uk

Why good photographs are essential to sell your property. It's best to engage a professional photographer or engage a company to help. One of the many items Mau Investments can do for you is get photography done that sells. Other options are to leave it up to your Agent or do them yourself. If you are choosing a Agent choose one who takes good pictures. Check other properties they have photographed to get an idea through online property portals like Rightmove, Zoopla and others. Here are some other tips: *Stage things so that on the day of photographs, everything looks as good as it can possibly be. For example, clear worktops, add fresh flowers or fill up the fruit bowl. These things add a splash of colour and always look more attractive to buyers. *Temporarily move things from room to room to make sure that each room looks bigger and is being displayed in its best possible light. *If using a professional book your photography session at the right time of day, when the sun is at the right angle to brighten your house up to its maximum effect. Bright rooms always make your house look bigger, so make sure you only take photographs at the time of day that works best to achieve this in your house. *Taking good photographs is one thing that might be out of your control, but there really is no excuse for not having enough photographs. There is nothing worse when looking for a property to buy to find something that looks interesting at the right price, only to find that the four pictures that are available aren’t very good. *When getting pictures taken by your estate agent, make sure you accompany the photographer around the house and make sure they take multiple photos of each room. Make a point of asking the photographer how many photographs they take of each room and make a point of making yourself available to move things or adjust things to help them take the best photos possible. Good photos get enquiry and sell properties. If you are considering selling, get in touch for help in formulating photography that sells. Assisted Sales with Mau Investments get results. Mau Investments – Property Solutions made easy

New build or an older property, which do you prefer to purchase, both have advantages and disadvantages. Here are my thoughts Old House Pros and Cons • More character, bigger (big bedrooms, a large garden or high ceilings), and in established neighbourhoods., • Issues are more visible and you can normally have higher maintenance, wear and tear, and less energy efficient. You can however have a survey done and make sure everything is in order and especially structurally. • You can renovate to add value – this is the biggest advantage despite being a cost and you can personalise the refurb and this normally increases the value • When making an offer on an older property, you know exactly what you’re getting but be aware of any long chains. . • Negotiating power – buying an existing property means that the purchase price is negotiable between buyer and seller.. New Build Pros and Cons • Although normally smaller and less space you can often personalise and have a say in the style of things like carpets, flooring, kitchens and bathrooms. • If you buy a new build off-plan, you might not know the quality of the end product until after you’ve put an offer in so a snagging survey is essential. However new builds do offer a builder’s warranty, offer less maintenance and are more energy efficient • No chain –or no existing or previous owner so there’s less chance of your transaction falling through. However there could be delays: The buying process can be even longer with new builds if the building’s not finished on time •New builds are more expensive with the average premium paid to purchase a new build property compared to the price of an average older house in Britain is approx. 30% more. However, there are several home-buying schemes which means great options for first-time buyers. And sometimes developers will throw in incentives when trying to sell a new build property. For example, covering your stamp duty or upgrading your fixtures and fittings.

Here are Common Reasons Why Houses Don't Sell Pricing yourself out of the market is probably the single most obvious reason why a property will fail to sell. Buyers do their research and most know how much similar houses in the same or comparable area will be on the market for. Don’t be greedy – be realistic. The property needs a good tidy up/clean and attention to minor cosmetic issues. Any signs of damp, rotten woodwork, exterior cracks and plumbing issues etc also need to be taken care of. The property needs modernisation/minor refurb. Items such as central heating and even double glazing are now a basic expectation from most buyers. If you can afford it look at replacing the kitchen and bathrooms. It's also surprising and a little alarming how low the quality of some estate agents photographs and quality of marketing of the property is. Choose your agent wisely.. Talk to someone who knows how to help set up your property to sell. For example, I have tools in my tool box others don’t that can help even if you cannot afford any refurb. Talk to me to discuss ways how I can help sell your property at the right price.

The conveyancing process starts when your offer on a house is accepted and finishes when you receive the keys normally taking between 12 and 16 weeks to complete. Conveyancing is the legal transfer of home ownership from the seller to the buyer conducted by a solicitor in person or online. The buyer's solicitor will write to the seller’s solicitor to confirm they are instructed and request a copy of the draft contract and any other details, such as the property’s title and the standard forms. Next, a set of legal property searches are carried out to ensure there are no other factors one should be aware of. A list of fixtures and fittings is also complied and completion date agreed.. You will need to get a survey done, insurance arranged on the property and your mortgage in place which the buyers solicitor will receive a copy of to go through the conditions. Once the buyer has paid the deposit and exchanged contracts the buyer will be in a legally binding contract to buy the property with a fixed date for moving. Completion takes place when the seller’s solicitor confirms that they have received all the money that is due. Once this happens the seller should drop the keys at the estate agents for the buyer’s collection. This means that the conveyancing process is over.

Are you thinking about selling your home?. Here are my tips for finding a good real estate agent. Ask for recommendations from friends and neighbours and compare how they market their properties Get an agent who is local and knows the area and whose track record in sales is good. Get three valuations from 3 different agents to get a realistic price. However, beware of choosing an estate agent that suggests the highest asking price as even though a high valuation might sound appealing, it could make the property tougher to sell. And as time goes by, when the house doesn't sell buyers may assume there's a problem with the property and it ends up selling for less than if it had been realistically priced in the first place. All good agents should be operating to codes of conduct that will ensure you are dealt with professionally. Finally choose an estate agent you're happy to work with,' and who is experienced, enthusiastic and helpful. If you cannot find one that makes you feel comfortable, get in touch. I work with the best of Agents to secure the sale. 01 332981666

Given the cost of living crisis at the moment, it can be easy for homeowners to fall into arrears with their mortgages. If you are struggling right now, please feel free to contact me to see how I may assist you. With a vast network of property professionals, if I am unable to help, I will know someone that can, or I can direct you to organisations who may offer assistance. Email dennis@mauinvestments.co.uk or phone 01332981666

Once you have completed your renovation, I would always recommend dressing the property when you put in onto the market. So why is that? Dressing the property can help a buyer to imagine themselves living in the property. Properties that have been home-staged can sell for 10 to 20% more than a non-staged home and sell a lot faster. The cost, therefore, is definitely worth it to have a professional do it. Property staging’ is the art of making your home look its best. By strategically placing a new plant in a window sill, adding stylish cushions, or repainting tired furniture to lift a room, you can create a lifestyle that people will want to buy into. You might love your private study, but if you are trying to appeal to families, would they prefer to see that space as an extra bedroom? A professional house dresser will know the interior trends that sell and be able to instantly see the simple changes that can be made - such a new room layout or de-cluttering a room to make a good impression. Whether you do it yourself or get in an interior expert, dressing a house for selling will show your property in its best light and create a narrative that people will want to buy into.

It's all too common for your property to fall short of market asking prices because it's in need of repair or refurbishment. You may also not have the money to do the needed repairs or refurbishment - Or perhaps you are having problems with meeting your mortgage payments forcing you to think about a below-market sale and accept a lower price than you deserve. If so, you need to consider an Assisted Sale What is an Assisted Sale? It’s when a property owner is ‘assisted’ to sell their property. Why you would do this is for several reasons. It could be because the property has been vacant for some time due to the fact it is simply not selling in its current state. Then again, it could be that a family member has inherited the property and just wants to sell it quickly and move on. It could be that the property badly needs modernisation/refurbishment or even repairs, and you don’t have the money – or inclination – to get it done.. Assisted Sales gets quicker results for the homeowner and normally at the price you originally wanted and sometimes even more. You get to move on quickly, There is no cost (or can be shared cost) to renovate, refurb or do the necessary repairs. Can get help with mortgage costs and payments Can get accommodation while the work if required is being done It is ‘Hands-free’ – you may not have the time, desire, knowledge or will. Contact me for an informal chat to discuss your plans and how I may be able to help. If you like what we can do, we can progress from there and if not, we will have been pleased to have helped. Mau Investments – Property Solutions made easy

At Mau investments, I approach sellers with an ethos of cooperation with all of those I meet. When one sincerely wants to help another, its always a win-win for all. If we decide to work together you have two options. I assist those needing to sell due to rising interest rates, higher inflation and for many a cost of living crisis. In addition, for example, those facing divorce, sale of property through probate/inheritance, moving locations or those simply finding it difficult sell at the right price. Also I assist those who may be facing potential Repossession issues. I have tools to help you in our toolkit that others don't to help provide solutions to get you the seller back on track and the right price for your property. I will always treat you with respect, discretion and integrity. When you contact me to discuss your plans to discuss how I may be able to help it is simply an informal chat. Nothing else. Sometimes its good just talk and share thoughts about where you are at and then in the process discover some solutions or ideas to help point you in the right direction. If you like what we can do, we can progress from there and if not, we will have been pleased to have helped. Mau Investments – Property solutions made easy

Why Isn’t Your House Selling? A house that’s been languishing on the market is unlikely to fetch a premium price. Here are some mistakes a seller could be making: Unrealistic price is driven by what you want instead of what the market is dictating. If a seller sets his/her price on needs and emotions rather than the actual selling value it will be difficult to sell. Many sellers decide on ‘subjective’ rather than ‘objective’ value for their home. So be careful when an agent boosts that they can achieve an unrealistic price – just to get the listing. This is common practice and some agents know all too well how to play that game to win a listing. Its crucial to present the house in a pristine state and attractive to buyers. A property that’s not spick-and-span often indicates concealed flaws that will increase the total cost to the buyer once purchased. Your potential buyer will have to allow themselves greater room for error for the price of repairs or refurb themselves, reducing their offer. Sellers often don’t take the first offer seriously and hang out for a higher price. This often happens if an offer comes in shortly after the home’s been listed. Often the first offer ends up being the best buyer, and the vendors lose by having to take less money much later on in the selling process. If the offer is acceptable – take it. You could sell the property on your own and you will save the commission, but will it be worth it? Less than 10% of self-sellers actually sell their home and nearly all of them end up hiring an agent after much wasted time and a lot of advertising dollars spent. As an ex Real Estate Agent myself, I could do this easily but I don’t. I still work together as a team with a Real Estate Agent so that we achieve the sale at the right price. It’s also a lot less stress. I hope this has been helpful. If you’re considering selling any time soon, we should talk. Mau Investments – Property Solutions make easy

Does Street Appeal help sell your property? Yes, it does. By adding street appeal you will enhance the appeal of your property and entice would-be buyers to view. A welcoming entryway is essential. Replace welcoming elements like the letterbox, house numbers, doormat, and door hardware. This can have a huge impression on buyers. These small elements can send a welcoming impression and are relatively inexpensive. In addition, add pots of colour to either side of the front door for a visually dramatic entryway. Recommended are impatiens and succulents which are also very fashionable. Renew garden beds: Get them into shape by pruning growth, pulling weeds, planting flowers, and adding mulch to restore colour that was taken away by sunlight and harsh weather. For the evening, consider always leaving a few interior lights on plus any exterior lights at the front of your home. Buyers may drop past to view at night. Hope this helps. For more in-depth insider secrets into selling your property at the right price get in touch. Be happy to help. Mau Investments – Property Solutions made easy