What does 'Vacant Possession' mean when buying a property?

Find out what Vacant Possession means when you are buying a property. 'What does Vacant Possession mean?' plus over 150 other property related terms and jargon in plain English

Vacant Possession

Vacant Possession means the property is empty, there is no one living there that will be needing to find themselves an alternative place to live (and so might delay the purchase process).

Vacant Possession is a type of chain free property, there is no one living there that will be needing to find themselves an alternative place to live (and so might delay the purchase process).

The difference is that there may be someone living in a chain free property.

Vacant possession is seen as a positive thing by most buyers because there is nothing to stop them moving in except for the speed at which the solicitors can get all the paperwork together.

If you want to learn all the lingo that will help you purchase a property the smart way pick up a copy of my ebook How to Really Buy a Property.

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"... you should have to hand; Why agents ask questions that could cause you offence; The terminology used by agents; The difference between Chain Free and vacant possession; Why you can't get a mortgage on some properties; The characteristics of a leasehold property; What lease lengths..."
"... when they speak to you, in other words they generally assume you know them. The most frequently used are: First Time Buyer Chain Free and vacant possession Tenanted Cash Purchasers Only Repossession Leasehold Share of Freehold Freehold - First Time Buyer - Originally this..."
"... that are accepted by vendors from First Time Buyers. Such buyers are also sometimes referred to as chain free (see below) - Chain Free and vacant possession - The two terms are often mixed up but they can mean very different things: Chain Free Buyer: A buyer who does not need to sell..."
"... it is that everything will happen successfully vacant possession: This is often confused with chain free properties. Just because a property is empty it does not necessarily follow that it is being offered chain free so always double check. - Tenanted - It is possible to buy a..."

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