Selling a buy to let property can be a complex and challenging process, particularly if you currently have tenants. It is vitally important to consider your tenants in the process – nobody wants to rent from an inconsiderate, selfish landlord! Below, we’ll talk you through some of the best ways to sell a buy to let property.
Selling with an Estate Agent
Estate agents are one of the best and most accessible options for selling properties, although you should note that you cannot sell a property with sitting tenants through an estate agent. Estate agents usually take around four months to sell a property, and while you will have to deal with their fees, they are often relatively low.
Selling with an Auction
Selling at auction is a popular option for selling an empty buy to let properties, but you might not get the best price possible through this method. Although you might think of auctions as an excellent way to get what your property is worth, auction buyers tend to be investors searching for bargains.
Selling Directly
There are no safety guarantees here and no protections of any sort. If you don’t want to deal with an intermediary, you can try selling directly to a landlord or investor. However, the biggest problem here might be finding a landlord ready to pay your asking price and accept your current tenants.
Selling to a House Buying Service
The fastest way to sell your buy to let property is to sell it directly to a house buying service. You might not get the best possible price like this, but a house buying service is one of the best ways to guarantee a fast sale and a definite, guaranteed date for completion of a sale.
Selling via Vesta
Vesta is a new platform for buying and selling investment properties. This is one of the most flexible options available at the moment and offers well-designed solutions for landlords. However, it is a very new platform, so it might not have the largest user base of potential buyers so far.
Selling via Social Media
You can advertise your property for sale on social media sites. This will depend entirely on your reach on social media, but if you have a wide enough reach, you might be able to achieve a sale without needing a broker if you’re lucky!
Selling via Public Platforms
Did you know that public platforms such as Gumtree and EBay can be used for selling properties? Well, it’s an option! However, this method might lead to inquiries from a lot of time wasters, so do not be surprised if it is a difficult sale.
Conclusion
Selling your investment property through a broker like Sell With Richard is likely the fastest and easiest way to shift your property without running into issues. There are plenty of other options, but the support of a reliable broker is one of the most valuable things you can have on your side to help with the selling process.
- Selling a House in a Trust After Death: What You Should Know - April 18, 2024
- Maximising Your Home’s Potential: The Ultimate Renovation Checklist - April 16, 2024
- Key Tips on Managing Your Property Portfolio - April 16, 2024
