Selling to a company(5 Posts)
Justpassingtime1 Tue 08-Sep-20 19:47:48
CatAndHisKit Wed 09-Sep-20 01:09:51
GrumpyHoonMain Wed 09-Sep-20 07:12:01
Pipandmum Wed 09-Sep-20 07:17:30
ComtesseDeSpair Wed 09-Sep-20 15:36:58
To use this feature subscribe to Mumsnet Premium - get first access to new features see fewer ads, and support Mumsnet.Start using Mumsnet Premium
My friend has a tenant in her house but wants to sell.
She has found a company that buys with tenants in situ
but I think she might lose out price wise.
Who is right?
You are right, of course their whole business in based on buying well under market price (about 15 per cent at least). Maybe is it's a prime area she could do a bit better. Wh not sell via agent to another landlord? Many of these on rightmove.
Otoh she loses nothing by just asking what they would offer and compre to agent valuations.
Landlords will often buy with tenants in situ. Talk to a few estate agents and see what they say
If it's one of those 'quick sale for cash' deals then they will only pay under market value, about 20%. She should get estate agents around for an accurate price.
While it is possible an investor will buy with a tenant it severely restricts the buying pool - best to serve notice (six months now) and hope her tenants are amenable to viewings.
Yes, she may well lose out price wise but it depends how desperate for the money she is. Contrary to belief, not all investors prefer to buy with a tenant in situ: they have no idea whether your tenant pays the rent or not, whether they antisocial, how you vetted them etc and the last thing an investor wants to be stuck with is a nightmare tenant they have to take through the courts to get rid of. She may therefore find it takes a while to find a private buyer.
Is she in a position to negotiate with her tenant for them to agree to end the tenancy early in return for a reduced rent whilst they find somewhere new and repayment of their deposit before the tenancy ends?