Property Grades? What are they?

empfun

Hi folks,

Every so often I come across advertisements for Grade 2 property. What is a "Grade 2" property? What are the different grades, and how does it affect the buyer or seller? Thanks.

rach83

Dare I admit it but I am an estate agent :rolleyes:

You could be referring to one of two things:

Grade II can be a listing on a property. A listed property would be registered with the local authority as being of special historic interest. If you buy a property that is listed you are restricted as to what you can do to it. For example you have to get listed building consent to make changes to internal and external appearance (changing windows etc you are also not allowed to erect sky dishes or anything like that which would alter the appearance) and the rules are very strict. If you do not adhere to it you can get fined a lot of money.

Alternatively when I use to work for a corporate estate agency we use to grade the applicants (buyers) if you we a grade 1 you were fully proceedable, grade 2 meant you had a property to sell in the area and grade three was unproceedable or not a property owner in the area.

I think you will find if you have been looking at older property the first explanation would make the most sense. If you live in Scotland how ever it may mean something totally different which I know nothing about.

Rach

P.S You can also get Grade I properties and Grade II*

Grade I properties tend to be very old 1500's (medieval) and Grade II* are what are considered to be more important properties which could be more at risk than a standard Grade II. If you know that a property is listed and you want to know more phone the local authority and you can obtain a copy of the listing (I know my local council charges £2 but I have sweet talked them into getting one for free before now )

empfun

Thank you for your enlightening reply rach83 and just as well someone from the inside. Cheers!

theGrinch

also grade 1 properties may be maintained by the government free due to their historice importance not sure if this applies to all grade 1, but I know one example in scotland of this.

empfun

Maybe someday when I save up enough cash I'd buy a couple theGrinch. Maybe two castles and a palace.

Debt_Free_Chick

More about listed buildings on the English Heritage Site

theGrinch

theres a runined castle type thing with outbuildings for sale in shetlands. guide £175k...grade 1...thats the one the govt has been "maintaining"

can I come to castle warming?

John_M_Business

In terms of Grades as a homebuyer... don't ever buy one of these hoping to extend it, or even modernise it. If you're happy going with the 'bygone' ages look, then get one as they look pretty... (to some people)

But apart from that they are usually money-munching 'dogs' to own. Even if you need to fix something (like a drainpipe) you will have to get about thirteen parties involved and buy really expensive items to retain the alleged 'authenticity' of the place.

... so I've heard. ;-)

frugal_dougal_3

John_M_Business wrote:

In terms of Grades as a homebuyer... don't ever buy one of these hoping to extend it, or even modernise it. If you're happy going with the 'bygone' ages look, then get one as they look pretty... (to some people)

Not always. I had a very nice extension on a Grade 11 house built in 1795, it just has to be done in keeping with the original style.

John_M_Business wrote:

But apart from that they are usually money-munching 'dogs' to own. Even if you need to fix something (like a drainpipe) you will have to get about thirteen parties involved and buy really expensive items to retain the alleged 'authenticity' of the place.

... so I've heard. ;-)

Again not always. If you get the local authority on board they will usually be helpful. At first it looked as though I was going to have to get reclaimed black pantiles for the roof but the LA allowed the use of new ones which weathered after a while and looked old anyway.
But yes iron drainpipes can be very expensive.

Debt_Free_Chick

When you buy a listed building you are essentially committing to maintain the property to a standard in keeping with it's historical/architectural standard.

If you want a modern looking property or one with "all mod cons" and no regard for historical context (e.g. all the benefits of UPVC double glazing, ignoring whether the look is appropriate for a 16C property), then a listed building is not for you

As Frugal says, you need to understand what the planning authority will and won't approve. The Listed Building Planning Officer can be a very helpful & free resource to help you with planning, so that you make applications that are likely to get permission. The Planning Authority is not there to say "no" to every application - just to say "no" to those that don't meet the Planning requirements and/or Listed Building Consent guidelines.

Regards

EdInvestor

A major reason for not doing anything to a listed building that is not "in keeping" with the style is that it will detract from the value of the property which will usually carry a premium.