Can you sell a park home without a solicitor?
Although many people who sell a park home choose not to use a solicitor, we would recommend using an experienced solicitor who will be able to guide you through the process, deal with any problems which may occur, and ensure that your sale goes through smoothly and with as little stress as possible.
What are the pitfalls of buying a park home?
The cons of park home living:
- They won’t increase in value over time.
- You can’t get a mortgage on a park home.
- They require regular maintenance.
- You’ll need to pay commission if you decide to sell.
Do you need probate to sell a park home?
If you were living in your park home with a spouse, partner or other family member when they died, you can stay where you are. … The executor of the Will may need to assign the occupancy agreement to you and may also need to show the residential park owner the death certificate and/or grant of probate if there is one.
Is a park home classed as property?
Park homes are a unique form of homeownership – Unlike a traditional property, a park homeowner owns the structure of the home itself but not the ground it is located on. Instead of owning the land the home sits on most park homeowners rent a pitch from a site owner.
Are park homes leasehold or freehold?
According to the Mobile Home Act 2013, park homes are neither freehold nor leasehold. That’s because all you are buying is the static caravan itself. The land remains the property of the park owner at all times. As a park home owner, you sign an agreement with the site owner and pay an annual pitch fee.
Is it worth buying a residential park home?
If you are considering downsizing and living full-time in a park home, it’s often an excellent investment—as buying and running costs tend to be much lower. Chances are you’ll be able to sell your house, buy a park home, and have a tidy sum left over.
Is buying a park home a good idea?
Residential park homes offer great value for money, with costs significantly lower than purchasing an equivalently sized house. Not only are park homes more affordable than standard bricks and mortar homes, owners can also expect a comfortable and stylish new lifestyle.
Can you permanently live in a park home?
Residential parks are open all year round and you can live there permanently in a purpose built park home. They do not usually allow static caravans to be lived in. … Residents are protected with security of tenure by the Mobile Homes Act if the park is registered with a residential licence.
Are park homes Mortgageable?
Unlike a traditional brick and mortar house, you cannot get a mortgage on a park home. This is because the land they stand on is owned by the site owner, not the residents. … As such, there is no formal title registered with the Land Registry, meaning there is nothing for the lender to secure the mortgage against.
Do you pay ground rent on a Park home?
To be classified as a park home, a property must be movable in one or two pieces, either on its own wheels or by being transported by another vehicle. … But the costs don’t stop at the purchase of your property. You will also need to pay a “pitch fee” or ground rent to the site owner.