Derelict and Abandoned Property
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It’s essential to make full and proper enquiries when you come across a derelict building or abandoned property you would like to purchase.
Although the building may look empty or abandoned, do your best to make sure you stay on the right side of the law. For example, never walk around someone else’s private property without permission.
Sometimes when you see potential in a derelict building or an empty property, things can start to get very exciting. Still, it takes a little effort to make simple enquiries to find out who owns the property.
Call the local post office or ask a neighbour from a nearby property. Never assume the property is up for sale just because the building appears empty or abandoned.
Finding Derelict Property For Sale
|Property Type (Detached, Outbuildings, with land, etc)
|No. of Beds
|Abandoned 5 bed house with land
|Derelict 3 bed semi detached house
|4 bed semi – lots of work required.
|3 bed detached house – abandoned for sale.
Derelict buildings come in all shapes and sizes. The location and type of property you buy will be dependent on what you wish to do with the property once renovated.
You may wish to purchase a renovation property to live in yourself, flip it for a profit, or rent it out as a holiday home.
Perhaps you have seen the ideal empty building in the city or town of your choice and would consider renovating it into the perfect home. For others, the dream is to find the idyllic rural property for sale.
If you’re searching for rural properties for sale, then take a drive in the countryside in the area you wish to live. Unfortunately, many empty properties don’t get listed for sale on the market.
When you see one, don’t get too excited. It may not be for sale at all. However, if you find a derelict rural property for sale, approach the owner carefully and politely. Make a general enquiry about the building and find out if there is a possibility the owner may be interested in selling.
Don’t push things, though. Instead, give the owner of the building time to mull things over. If you are patient, you may end up acquiring the derelict property you always wanted.
Derelict Property For Sale In Scotland
Scotland has its own legal system, which applies to all property sales and rentals. The system allows you to purchase assets via both an estate agent or directly from the property owner when buying a property.
When buying directly from the property owner, the purchase is completed under Scots Law.
Whether buying from an estate agent or direct from the existing owner, both the buyer and seller must have legal representation.
It is also common when buying property in Scotland to see the ‘offers over’ method of selling. Essentially this is a sealed bid process where you have no idea what other people are offering for the house or building. The seller reviews the offers and takes the one best suited to his needs.
If he receives two close offers for the property, one is cash and the other pending finance, the cash offer may be selected.
However, you are free to offer the seller any price, not just an offer over. Sometimes this confuses people from England who are buying property in Scotland.
Property Legal Advice
Before buying any house for sale, consult your solicitor or lawyer for firm legal advice. Never sign a property agreement without taking legal advice.