Put my flat on the market...eeep

[Bells3032]

I feel a weight has been lifted. I have been erming and ahhing as it is currently tenanted but my husband and I (we are currently living in his flat) want to buy a house in the next few months so don't want chains plus it has a big mortgage on it so income v outgoing I a basically making zero profit on it.

I have been erming and ahhing for months over whether to put it on the market and finally made that decision and feel so happy - it's the right choice for us and I am so happy.

Eep just hope it gets some interest. Fingers crossed!!

Good luck! Hope you find your dream home...

Just in case your dream house comes up before you sell I'm pretty sure you can get around the extra stamp duty for a second property - as long as you are selling your current residence to buy somewhere else to live (and also as your main residence) and can prove that (tenancy agreement will do). We had to do that when we moved last year....

Plenty of flats go on the market with tenants in situ. It’s on the estate agent’s blurb.

For a btl investor having a good tenant in situ is actually an advantage- immediate income and no marketing/inventory/agent fees etc.

No harm in testing the market to see whether investors are interested. If you have to market to owner occupiers you reassess it then.

Good luck- I was looking to market one of our btl flats but there’s various issues that will inevitably crop up during the conveyancing process that need sorting out first. Keep us updated.

I'm currently in the tennant's shoes with my landlord selling the property at the moment and it's a nightmare. We've had a constant stream of people coming through, from estate agents to surveyors to prospective buyers and hardly any of them wear masks or do social distancing. When we leave the building to get out of their way there is nowhere for us to go as all the cafes and pubs are shut. It's ok when the sun is out but when it's sheeting rain we're buggered. Now we have to find somewhere else to live which is extra hard given the current situation.

I understand you need to sell the property but I'd at least offer your tennants reduced rent or even a nice bottle of wine as I'm feeling pretty miffed with our landlords right now.

@heroku You're better than I am! I haven't allowed any viewings yet.

Just an update for people. It's been just over a week and we accepted an offer last night from the first people that viewed it. They also really liked the tenants and are keen to keep them in situ and continue to rent to them.

They've already sent over their mortgage and lawyer details so seem really keen so hopefully this will go through as quickly and painlessly as possible - and the tenants will have less stress and a nice new landlord.

Fingers crossed its win win win for everyone.

@Bells3032 Congrats. Fingers crossed!

Fab news! Really happy for you x

Fingers crossed for you, your tenant and your buyer!