As one of the largest expenses for businesses & commercial tenants, paying rent can be...
Avoid the floods
The recent period of wet weather and subsequent flooding is a reminder to us all that the location of a property should be a relevant factor in any property purchase.
Many homeowners have not only had the contents of their houses destroyed but, worse, they have been unable to recover their losses because insurers have refused to insure their properties. Those who are insured may find that it will be months before their house is habitable again.
Insurance companies have shown reluctance in the past to insure properties in flood areas and if the current wet weather is setting a trend for the future more and more properties could become uninsurable.
When acting in a property purchase, we request information from the seller on past flooding issues. We always recommend that an environmental search is made which, amongst other things, will identify areas prone to flooding. There are also specific reports which can be obtained if a property is identified as being in an area which could be liable to flood.
By obtaining and using the best information available at the time of purchase an informed decision will be a wise decision and avoid any heartache in the years to come.
If you have a client who needs any advice on the above, please contact one of the Residential team on 01206 217300