Sell house with tenants in Birmingham.
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Sell a tenanted property Birmingham
If you are a professional landlord, or multiple property owner, and looking to sell a tenanted property Birmingham we can help you. We are experts in all aspects of the property market. Therefore, we understand the considerations and finer details involved when selling a property with tenants Birmingham.
Birmingham is considered a great investment opportunity for landlords. With five universities within the cities boundaries many landlords choose to purchase property and rent for student accommodation. Additionally, there are great renting opportunities within the city centre for young families and professionals. However, due to several factors, many landlords are now looking to sell a tenanted property Birmingham. Recent research shows that selling a property with tenants Birmingham has increased dramatically.
However, due to several factors, many landlords are now looking to sell a tenanted property Birmingham. Recent research shows that selling a property with tenants Birmingham has increased dramatically.
Get a free cash offer for your house in Birmingham
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Looking to sell a tenanted property in Birmingham. Here’s how it works:
Free cash offer within minutes, no legal fees, any location.
Complete our online form
You can contact us to find out the cash offer amount we are able to offer you for your property. All you need to do is call our customer enquiry number or complete an online enquiry form. During our initial conversation, you can ask us any question you may have. We are the UK’s lead cash house buyers, so we are very knowledgeable about all aspects of the property industry.
Get a cash offer from us
We will need to take some details from you about your property and we will then use our valuation software to make you a cash offer. Remember it is completely free to get an offer amount from us and no obligation.
Complete your sale
Once we have confirmed your cash offer amount it’s up to you whether you wish to proceed. If you do, we can work together to agree a completion date that suits you. Upon completion date, you will receive your amount in full via bank transfer. Unlike solicitors, we do not charge commission or fees so you will receive the full cash amount, no last-minute deductions.
Please contact us today for your free no obligation offer amount.
Free cash offer within minutes, no legal fees, any location.
Selling a Buy-To-Let Property
A buy-to-let property is one that has been purchased with the intention of renting it to a tenant. There are a few additional things to keep in mind when selling a buy-to-let property…
Capital Gains Tax (CGT)
Mortgage Repayments
Section 24 Landlord and Tenant Act
Financial Concerns
EWS1 Concerns
Problem Tenants
Any growth in property value will be taxed at a rate of 18% or 28% depending on which tax band you fall into. This can result in lower-than-expected financial benefits to selling and is important to keep in mind.
Capital Gains Tax (CGT)
Any growth in property value will be taxed at a rate of 18% or 28% depending on which tax band you fall into. This can result in lower-than-expected financial benefits to selling and is important to keep in mind.
Mortgage Repayments
Long-term fixed-rate mortgages tend to have larger early repayment charges. So, it is important to check your mortgage deal to ensure you know how much you’ll be likely to pay. This is also likely to eat into any profits that you’ll make in selling.,
If you’re ready to sell your buy-to-let property with tenants in Birmingham, get your free cash offer now
Due to laws, regulations and changes in the property market, there are several reasons landlords may be looking to sell a property.
Section 24 Landlord and Tenant Act
The changes to this legislation have resulted in mortgage interest and other property finances no longer being tax-deductible. This means the financial incentive of investing in buy-to-let properties may no longer be worth it for some, and other investment opportunities may be more appealing. But, selling a property with a tenant so you can invest in something else may not be as easy.
Financial Concerns
Existing landlords may fear financial concerns, and maybe due to recession or other impacts, they look to sell soon. However, the easiest route in selling a tenanted property requires finding another investor or landlord but if there are many people fearing financial concerns, then the buyer pool may be limited, resulting in a slow sale.
EWS1 Concerns
Due to the Grenfell tragedy of 2017, flats with cladding require formal safety reviews. The reviews cost money, and due to a lack of availability, the EWS1 surveys aren’t always possible to complete urgently for a quick sale. Additionally, without the EWS1 survey, lenders may give flats a zero valuation resulting in a failure to get funding for the purchase. However, at We Buy Any Home, we buy properties without the EWS1 survey in place and can also purchase tenanted properties.
Problem Tenants
Problem tenants are another issue as to why landlords may decide to sell. If there are issues with the property in terms of condition, it can make the property harder to sell. However, at We Buy Any Home, we are able to purchase properties with problem tenants and can take over any tenancy agreement.
Free cash offer within minutes, no legal fees, any location.
FAQ’s for Sell a Tenanted Property in Birmingham
What happens if you sell a property with a tenant in situ?
Is it better to sell a house with or without tenants?
Why are houses sold with tenants?
Is it easier to sell a house with tenants?
How much does it cost to sell a tenanted property?
Can I sell my tenanted property?
How much notice do I have to give a tenant if I want to sell my house?
If you sell a property with a tenant in situ, then the tenancy agreement can be taken over by the new landlord. The tenant will continue living at the property until the agreement expires. The new owner can then decide to renew or evict the tenant.
What happens if you sell a property with a tenant in situ?
If you sell a property with a tenant in situ, then the tenancy agreement can be taken over by the new landlord. The tenant will continue living at the property until the agreement expires. The new owner can then decide to renew or evict the tenant.
Is it better to sell a house with or without tenants?
Selling a house without tenants is easier when approaching regular buyers who want to move into the property. However, if you have access to other landlords or investors, they may be open to taking on the property as an investment opportunity.
Why are houses sold with tenants?
When properties are sold with tenants, the new landlord is able to begin receiving rental income, which provides a means of investment. Sometimes, due to existing tenancy agreements, properties have to be sold with the tenant still living there.
Is it easier to sell a house with tenants?
It is easier to sell a house with tenants if you have access to investors or landlords willing to take over a tenancy agreement. If not, at We Buy Any Home, we can purchase properties in as little as seven days with minimal disruption.
How much does it cost to sell a tenanted property?
If you choose to sell with a cash house buyer like us at We Buy Any Home, there are no upfront fees or hidden costs. It’s completely free, and you can receive rental income right up till the selling day. However, with the traditional route, there may be a loss of rental income, solicitor fees, estate agents and event refurbishment costs to consider.
Can I sell my tenanted property?
Yes, you can, get in touch through our enquiry form, and we’ll contact you within 24 hours with a cash offer.
How much notice do I have to give a tenant if I want to sell my house?
If your tenant has lived in the property for more than six months and you are evicting them for the reason of selling, you must give them 84 days’ notice. If it has been less than six months, it will be 28 days.
Sell a tenanted property – buy-to-let
If you are the owner of a buy-to-let property and wish to sell you have two options. Option one is to sell it as a tenanted property and option two is to sell as a vacant property. If you are selling your buy to let property vacant, it’s safe to say you will have many more potential buyers showing interest. Whereas when selling as tenanted property the interest is most likely to be restricted to other landlords.
When deciding how you will sell your property be sure to check your tenancy agreement. Whether selling with tenants in situ, or as a vacant property, you need to ensure you are compliant with the terms of the tenancy agreement. Here at we buy any home we can help and give you advice on this. Please feel free to call our number and our in-house legal experts will answer any queries.
Free cash offer within minutes, no legal fees, any location.
Assured Shorthold
Tenancy Agreement
As industry experts we can advise and guide on several topics such as assured shorthold tenancy agreements. These agreements might sound complicated but do not need to be.
An Assured Shorthold Tenancy Agreement is a contract between the tenant and landlord. The contract is legally binding. It gives tenants the right to exclusive use and enjoyment of the rental property. It also provides a specified minimum term for which the tenant can stay in the property, without fear of eviction.
Here at We Buy Any Home we can adhere to the terms of an assured shorthold tenancy agreement before during and after the sale process. However, selling via an estate agent can be more difficult.
We don’t require viewings to purchase your property. We will make a cash offer amount by taking some information from you and using our valuation software. Just another example of why selling with us is so much simpler.
Selling on the open market means you cannot predict or guarantee who will purchase your property. The home buyer may wish to purchase the property to live in, meaning at some point your tenants will be required to vacate the property. Dependent on the specific terms and conditions of the existing tenancy agreement, this can be extremely time consuming. A long notice period could put potential buyers off or lead individuals to start but not follow through on a sale.
We can offer a guaranteed sale for your tenanted property. We do not require you to end the tenancy. This gives you peace of mind that don’t have to disturb your tenants to achieve a sales completion.
Free cash offer within minutes, no legal fees, any location.
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Sell your house with a tenant Birmingham
If you do decide to sell a property with tenants, you need to be aware of a few things.
Selling a house with tenants via tradition methods, estate agent or auction, is not always the easiest for the following reasons.
- Strict legislation giving tenants more rights and protection than the seller/ owner.
- Restricted to a small group of potential buyers.
- Uncooperative tenants restricting viewings and/or modifications to support the sale.
However please do not worry as you can sell your tenanted property. The is an easy and simple way thanks to, we buy any home. We will purchase your property ourselves, as cash buyers, with or without tenants.
We are a cash buying company and therefore have our own fund to purchase your property and do not need to wait for third party investment or sales. This gives you a fast sale with completion and cash funds in your bank in a matter of weeks.
We will adhere to existing tenancy agreements. This gives a guarantee that your current tenants won’t be negatively affected. We have purchased numerous properties that have remained as buy to lets. Once the sale is complete with yourself, we can either sell to investors, or continue to rent the properties ourselves.
Get a free cash offer for your home in Birmingham
Get a free cash offer today
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