lynngrantmc Posted June 29, 2008 Report Share Posted June 29, 2008 Does anyone have any idea's of how best to market 2 properties for investment sale We owned 3 BTL which we managed however now we have moved 350 miles away and don't want to carry on by using a local agents 1 tenant is buying one, put a vacant studio on with an agent for sale at £65k (newly refurb) now down to £60K and the tenant as just moved out of 1 bed so having to reconsider. The rental values are apparently £375 max on studio and £475 max on 1 bed. Didn't know whether to advertise privately at £149k the 2 with £5K cash back for quick completion. Does anyone have any experience of trying to sell in this way. Are they better tenanted or vacant? Auction? Link to comment Share on other sites More sharing options...
Freelance Hellraiser Posted July 2, 2008 Report Share Posted July 2, 2008 Does anyone have any idea's of how best to market 2 properties for investment sale We owned 3 BTL which we managed however now we have moved 350 miles away and don't want to carry on by using a local agents 1 tenant is buying one, put a vacant studio on with an agent for sale at £65k (newly refurb) now down to £60K and the tenant as just moved out of 1 bed so having to reconsider. The rental values are apparently £375 max on studio and £475 max on 1 bed. Didn't know whether to advertise privately at £149k the 2 with £5K cash back for quick completion. Does anyone have any experience of trying to sell in this way. Are they better tenanted or vacant? Auction? Would it not be possible to let them privately from 350 miles away? If you don't need the cash at the minute from the sale, then surely with the rental market being as strong as it is, it would make sense to keep letting them out until the buying/selling market picks up a bit and then get rid? Check out my signature if you do decide to sell or let privately. Hellraiser Link to comment Share on other sites More sharing options...
Mortitia Posted July 3, 2008 Report Share Posted July 3, 2008 Does anyone have any idea's of how best to market 2 properties for investment sale We owned 3 BTL which we managed however now we have moved 350 miles away and don't want to carry on by using a local agents 1 tenant is buying one, put a vacant studio on with an agent for sale at £65k (newly refurb) now down to £60K and the tenant as just moved out of 1 bed so having to reconsider. The rental values are apparently £375 max on studio and £475 max on 1 bed. Didn't know whether to advertise privately at £149k the 2 with £5K cash back for quick completion. Does anyone have any experience of trying to sell in this way. Are they better tenanted or vacant? Auction? Hi, Sounds like you just want out? Auction with/without tenant as long as there is an AST in force would be quickest. Put a reserve on if you are worried about the price. Mortitia Link to comment Share on other sites More sharing options...
Gee Posted July 3, 2008 Report Share Posted July 3, 2008 In all the web sites, in all the world, you have to walk into this one! How is life down south! 2 things to remember. 1. Capital gains tax - is it wise to sell 3 props in 1 year? - Can you spread it out over 3 years? 2. The market for flats is pretty awful - with or without tenants, however knowing the properties which you use to own, If you want/need to sell, I think you would have a larger market if they were sold with vacant possession, otherwise you would have a restricted market/value by selling to investors only. You also have the time advantage in that you could market immediately without trying the problems of reletting from 350 miles away. Send me message if you want. Cheers GF Link to comment Share on other sites More sharing options...
lynngrantmc Posted July 6, 2008 Author Report Share Posted July 6, 2008 In all the web sites, in all the world, you have to walk into this one! How is life down south! 2 things to remember. 1. Capital gains tax - is it wise to sell 3 props in 1 year? - Can you spread it out over 3 years? 2. The market for flats is pretty awful - with or without tenants, however knowing the properties which you use to own, If you want/need to sell, I think you would have a larger market if they were sold with vacant possession, otherwise you would have a restricted market/value by selling to investors only. You also have the time advantage in that you could market immediately without trying the problems of reletting from 350 miles away. Send me message if you want. Cheers GF Link to comment Share on other sites More sharing options...
lynngrantmc Posted July 6, 2008 Author Report Share Posted July 6, 2008 Life is great down south won`t be coming back up North! The properties are held in a limited company which I own with my dad who is now elderly and cannot stand the "fuss" he now lives with us and believe me I need to sell. I appreciate that what we are doing is going to get heavily stung on the tax but sanity wins on this one. Depending on when they were completed on, our tax year ends on 30th Nov in this market that would be a quick sale! Thanks for you comments they are all helpful because they either reinforce what you know or give another perspective Lynn Link to comment Share on other sites More sharing options...
orian Posted August 23, 2008 Report Share Posted August 23, 2008 Well I have sold my apartments this way. I feel they are better vacant as it will be less of a trouble for you when the deal falls through. Plus from experience I would say you will get a better sale value if a person other than your tenant buys it. I would go for advertising privately with quick completion or cash back. But with this clause you need to have a good conveyancing firm on your side. When I sold my apartments a year back I used Convex, they handled there entire procedure very well and I was able to sell my 2 studio apartments both in the suburbs. Bye and all the best to you. Link to comment Share on other sites More sharing options...
plym77 Posted August 27, 2008 Report Share Posted August 27, 2008 what made you put the properties in a limited company? be careful of double taxation. There will be Corporation Tax on the sale of the properties, but also when you extract the money from the company. You should take some advice on how best to deal with this to minimise your tax exposure. Link to comment Share on other sites More sharing options...
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