simondc Posted September 21, 2014 Report Share Posted September 21, 2014 Hi Folks, I am the common one property landlord. I have been successfully renting a two bedroom terrace house in Lincoln for the last 10 years achieving over a 6% return but now would like to sell the property to release the equity. However I have a long term family tenant who is very good so I want to sell to another investor who is likely to keep them in the property. I am not in hurry to sell so willing to wait for the right investor. Is this realistic and what do you think is the best way to achieve this. I have spoken to an estate agent and they said it was unlikely the property would sell with a tenant but I don't think they grasped that I didn't want to sell it as a residential property. i thought an investor would like to obtain a property with good tenants already in place, I just don't know the best way to make potential investors aware. Simon Link to comment Share on other sites More sharing options...
Richlist Posted September 21, 2014 Report Share Posted September 21, 2014 The usual method of selling a property with a tenant is through auction. I suggest you contact your local property auctioneers who will provide you with details & costs. Link to comment Share on other sites More sharing options...
Melboy Posted September 22, 2014 Report Share Posted September 22, 2014 Yes, auction is a good place to investigate regarding the process of selling with a sitting tenant. Property such as this with sitting tenants does sell for a cheaper selling price though so be aware of that. Other than that talk to other EA's about your selling requirements. Your original EA's advice is wrong because unless you market it how would you know? I have bought two properties in the past with sitting tenant's through my EA. So there are property investor's out there willing to do a deal at the right price. Link to comment Share on other sites More sharing options...
Richlist Posted September 22, 2014 Report Share Posted September 22, 2014 Agents who specialise in residential lettings....as opposed to estate agents who do a bit of letting to supplement their income from sales.....will usually have a few professional landlords on their books who they can call when this type of property becomes available. However, you may find its less effort to market it with a large auction house. The auctioneers will normally have a web site, a large national distribution list and a much larger coverage/ opportunity to find a buyer. Don't expect top prices though. Link to comment Share on other sites More sharing options...
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