Top Tips For Selling A Property in Hackney That Contains Asbestos

Asbestos Is A Word That Has Become Synonymous With Health Problems!

If you’re selling an older property in Hackney, you may be worried about the asbestos it contains. Asbestos is a word that has become synonymous with health problems and danger, so if your existing home contains asbestos, it’s natural to have concerns about how it could affect your property transaction.

Fortunately, Amar Mustafa - The REAL Estate Agent has handled the buying and selling of many properties containing asbestos over the years, so here is my expert advice.

Asbestos – What Is It?

Although many people think asbestos is man-made, it’s actually a mineral that occurs naturally. There are six kinds of minerals covered by the term “asbestos”: amosite, chrysotile, anthophyllite, actinolite, and tremolite.

Asbestos is an excellent building material due to its toughness, insulating properties, and soundwave and fire resistance. It was regularly used in many different products such as adhesives, flooring, textiles, cements, insulation products, and roof felts.

Which Properties Are Likely To Contain Asbestos?

If your property was built after 2000, it is unlikely to contain any asbestos. However, if your home was constructed before 1999, it’s likely some kind of asbestos is present. It could be:

• In the roofing materials
• In the flooring materials
• In Artex
• In the ceiling tiles
• In the airing cupboard
• In pipe lagging
• Around the boiler
• Behind the fuse box
• In the soffits
• Around the water tank
• Behind the fireplace
• In the guttering
• In panelling

Am I Legally Allowed To Sell A Home Containing Asbestos?

It’s entirely legal to sell a home that contains asbestos, but if you’re aware that your property contains asbestos, you must disclose it to prospective purchasers. If asbestos is discovered in your property during the buyer’s survey and you didn’t know it was there, there will be no legal repercussions for you. You’re not legally required to be aware of any asbestos in your home before listing it for sale.

That said, getting a survey carried out before listing your property is wise since if prospective buyers learn during their survey that your home contains this potentially hazardous substance it may have a negative impact on your sale. If you’re aware of any problems, you won’t experience unwanted surprises.

How Will Asbestos Affect My Home Sale?

Legally, asbestos won’t affect your home sale, but the attitude of your prospective buyer towards the discovery could result in the sale falling through. Asbestos in your home may also affect your property’s value depending on how much of it is present, its condition, and where it’s located.

Since it’s costly to remove asbestos, the price of your home may be adjusted in order to reflect the expense of the works to remove it. Alternatively, you may find it more cost-effective to arrange for its removal yourself before listing your home on the market to avoid the price reduction.

If you’re selling a property in Hackney, don’t hesitate to call me on 0203 1505 007 or drop an email at amar@therealagent.co.uk. I can offer you expert advice about asbestos in your home and how it may impact your sale.