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.

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How to Really Buy a Property

Chapter 14: Viewing Properties and Making Offers

"... 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..."

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"... 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..."

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"... 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..."

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"... 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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Property FAQ

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Vacant Possession

What's in the 2021 edition .....

Why buying property is right for some and wrong for others;
The state of the market today;
What Brexit and Covid 19 means to the future of UK property;
How the media have become unreliable indicators of the market;
Who makes good quality predictions for the property market (and who doesn't);
How the market works over the short term and the long term;
The difference between property bubbles and property booms;
Why it can be a good idea to buy when prices are falling;
The principles of buying a property to let and what the text books don't tell you;
Ways to get on the property ladder when it looks impossible;
How professional buyers and investors work with estate agents to get better deals;
Why you should see as many Financial Advisors as possible;
What to do before you start viewing so you don't lose your dream home;
Who the surveyor, solicitor and estate agent are really working for;
How to make an offer to get things your way;
Who to trust and who, with the best intentions, may be misleading you;
Why you should work to minimise the time between offer agreed and exchange;
Making sense of a property survey including:
- What type of survey to get and why structural surveys can be money wasted;
- Why surveyors should never estimate the cost of works;
- When rising damp, penetrating damp, subsidence, cracking, sagging roofs, bulging walls and all the other frightening things in a surveyor's report might be serious, and when they are not;
- Why asking the vendor to carry out work is not always a good idea.
Step by step guides explaining what should be happening, what can happen, and how to solve mole hills before they become mountains;
Over 140 terms in an easy to use glossary so the jargon of the property industry can be understood;
20 true stories of successes, and disasters, that real people experienced when buying a property.

.... and what's not in the book ...

Continuous commentary banging on about how great property is and that it is the only place to put your money!
Recommending businesses that I get kickbacks from.
Rewording and republishing what is available freely from most websites anyway.
Endless tales of how easy it is to buy property and profit.
Attempts to sell you some course or other product.
Blank pages and spaced out text to make the book seem bigger.

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

Vacant Possession

Search Results for 'vacant possession' in How to Really Buy a Property

Search Results for 'vacant possession' in Property FAQ

There were no results for 'vacant possession' in Propery FAQ

Search Results for 'vacant possession' inProperty Terminology

What's in the 2021 edition .....

.... and what's not in the book ...

Search Results for 'vacant possession' in
How to Really Buy a Property

Search Results for 'vacant possession' in
Property FAQ

Search Results for 'vacant possession' in
Property Terminology