Home / Business and Economy / Inherited Flat Nightmare: Two Years of Debt
Inherited Flat Nightmare: Two Years of Debt
22 May
Summary
- Woman paid £600 monthly council tax on empty inherited flat.
- Asking price slashed by £70,000 to complete sale.
- Declined at home from stress before property sale finalized.
A Surrey woman experienced severe financial strain for two years while trying to sell her late father's retirement flat. Jackie Stacey, 67, from Caterham, revealed the escalating costs, including maintenance charges, ground rent, and a council tax premium that reached £600 per month for the empty Epsom property.
The pressure and uncertainty surrounding the sale of the flat, purchased by her parents two decades ago, took a significant toll on her health. Stacey reported collapsing at home due to stress weeks before the transaction was finalized. She and her brother were forced to accept a £70,000 reduction from the initial asking price.
Initially marketed at £245,000, the flat eventually sold for £175,000. Stacey expressed relief, noting that the final sale proceeds for her and her brother were approximately £15,000 to £17,000 each, narrowly avoiding a potential £10,000 deficit.
This situation highlights a wider issue where hundreds of families have contacted the BBC reporting similar financial burdens from inheriting vacant retirement properties across England and Wales, often due to high service charges and declining property values.
