Can I Sell My House With Sitting Tenants?
Yes, but you will need to advertise your property for sale with sitting tenants so potential buyers are aware.
Selling your house with sitting tenants shouldn’t have to be a problem. There are several things you can do that will help make the sale of your house goes through smoothly.
We have experience of purchasing properties that have had tenants in residence. Performed the right way the process of selling your house with sitting tenants can work for you, as opposed to becoming a hindrance. We’ve compiled the information below which should go some way to helping you should you be faced with this situation.
Initially, explain the situation to the tenants and if you have a healthy relationship ask for their help. Consider an incentive if they leave the house in good condition, possibly an extra cash bonus when returning the deposit. This certainly should be considered if the tenant is not too happy with the situation.
Help your tenant move on by offering to pay for a removal van or compensate them for the inconvenience of searching for a new house. If your tenant or tenants are not happy about having to move and it’s a concern for you then consider the ‘cash for keys’ approach. This will prove a lot cheaper than having to go through a process of eviction.
The above tips are extreme actions to resort when it comes to the selling process with sitting tenants. Sometimes assuring tenants they’ll be given plenty of notice and not kicked out of the property is enough to ensure that they cooperate and find another property to move into when the time comes. Assure your tenants they’ll be given plenty of notice before any viewings and potential buyers are shown around the property.
The same rule should be applied for surveyor inspections or any other visits from estate agents or other relevant parties. Speak to your tenant and ask what would make life easier for them whilst the house is on the market. If there are obvious signs of distress consider a gift voucher or compensation for each house viewing.
The above tips will help to get your tenants onside and this is essential if you want them to keep the house in a good condition. A tenant who is not happy could cause problems that may affect the sale, so it’s vital you plan your approach and don’t dismiss their needs or concerns. Try and see it from their point of view, they may have lived in the property for some time and now they have to allow strangers to wander through their house. Ensuring you get your tenants onside will serve you well throughout the sale process.
Tiring or Retiring Landlord?
Are you a landlord looking to sell a property with tenants in situ? We can offer a guaranteed cash purchase for your property in a timescale that suits you. It could be a couple of weeks, or even just a few days. For landlords looking to sell off entire portfolios, large capital gains tax bills could await you. We are happy to work with you to structure the purchase of your properties in the most tax efficient manner.
