Advice on selling a tenanted property?

Advice on selling a tenanted property?

Readers Question by Readers Question
11:17 AM, 11th March 2015, 11 years ago 45
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Landlord NewsLandlords Questions

I am looking to put my property on the sales market and wish to give written notice to my tenant that:-Notice to tenant of Estate Agent visiting to take photos

1) I wish to have an Estate Agent attend and take photos of the inside of the property.

2) Give notice that once the property has been sold they would be required to vacate the premises.

Is there any advice as to which Acts I have to insert into any legal paperwork.

Thanks

Simon

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Comments

  • Kelly C Kelly C

    Member Since March 2015 - Comments: 2

    2:03 PM, 12th March 2015, About 11 years ago

    Thanks for the reply Mark. Like Andrew said rent coming in from day 1 is very appealing but lots to consider.
    Good luck with the portal. Sounds great and beneficial for tenants too if they don’t have to be kicked out of their home when the landlord needs to sell.

    2 Report Comment Reply
  • Mark Alexander - Founder of Property118 Mark Alexander - Founder of Property118 Read Full Bio

    Member Since January 2011 - Comments: 12209 - Articles: 1408

    9:10 AM, 13th March 2015, About 11 years ago

    I would very much appreciate those who are commenting on this thread to take a look at the conveyancing package that we have put together with Hawkins Ryan solicitors for tenanted property purchasers and to post comments back here please.

    The link to the page showcasing this unique conveyancing package is >>> http://buytoletconveyancing.co.uk/buying-a-tenanted-property/
    .

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  • CaZ CaZ

    Member Since September 2013 - Comments: 154 - Articles: 1

    9:24 AM, 13th March 2015, About 11 years ago

    Obfuscated Data
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  • Mark Alexander - Founder of Property118 Mark Alexander - Founder of Property118 Read Full Bio

    Member Since January 2011 - Comments: 12209 - Articles: 1408

    9:42 AM, 13th March 2015, About 11 years ago

    Reply to the comment left by “CaZ ” at “13/03/2015 – 09:24“:

    Hi CaZ

    That’s very interesting feedback, thank you.

    As a matter of interest, what were your legal fees (inclusive of disbursements) for your last purchase? Please advise whether it was a tenanted property or sold with vacant possession.
    .

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  • CaZ CaZ

    Member Since September 2013 - Comments: 154 - Articles: 1

    11:44 AM, 13th March 2015, About 11 years ago

    Obfuscated Data
    1 Report Comment Reply
  • Mark Alexander - Founder of Property118 Mark Alexander - Founder of Property118 Read Full Bio

    Member Since January 2011 - Comments: 12209 - Articles: 1408

    11:50 AM, 13th March 2015, About 11 years ago

    Reply to the comment left by “CaZ ” at “13/03/2015 – 11:44“:

    Thanks CaZ 🙂
    .

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  • CaZ CaZ

    Member Since September 2013 - Comments: 154 - Articles: 1

    2:05 PM, 13th March 2015, About 11 years ago

    Obfuscated Data
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  • Mark Alexander - Founder of Property118 Mark Alexander - Founder of Property118 Read Full Bio

    Member Since January 2011 - Comments: 12209 - Articles: 1408

    2:58 PM, 13th March 2015, About 11 years ago

    Reply to the comment left by “CaZ ” at “13/03/2015 – 14:05“:

    Thank you CaZ, I see that your last transaction was back March 2012 and that your bill came to £788.14 inclusive of disbursements. I have to say at that you got a very good deal, even though at that time the conveyancing industry was in the doldrums and all firms were competing very aggressively on price.

    The key difference though is that there is no mention of the property being tenanted at the point of purchase. If it had been there would have been significant extra work required in terms of ensuring the tenancy agreement and tenancy deposit protection requirements were all compliant, or if they were not that you were protected accordingly. It would be reasonable to have expected the fees to be around £200 higher if that had been the case.

    Internet conveyancing can still be found advertised for around £100 but, of course, one has to look very closely at what you get for your money. These companies employ unqualified processors and are known within the sector as “conveyancing factories”. There is no substitute for dealing with a professional solicitor, the base price for which is circa £550 plus VAT plus disbursements these days for a typical vacant possession property transaction.

    My personal view is that our partner firm have got their pricing spot on, hence I recently used their services myself 🙂
    .

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  • CaZ CaZ

    Member Since September 2013 - Comments: 154 - Articles: 1

    5:05 PM, 13th March 2015, About 11 years ago

    Obfuscated Data
    1 Report Comment Reply
  • Mark Alexander - Founder of Property118 Mark Alexander - Founder of Property118 Read Full Bio

    Member Since January 2011 - Comments: 12209 - Articles: 1408

    6:08 PM, 13th March 2015, About 11 years ago

    Reply to the comment left by “CaZ ” at “13/03/2015 – 17:05“:

    Thanks CaZ, that’s very reassuring 🙂
    .

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