Should I sell at 75 and if so how should I go about it?

Should I sell at 75 and if so how should I go about it?

9:36 AM, 3rd August 2021, About 2 months ago 48

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I always said I’d sell my small portfolio of 4 terraced houses, situated in a Northwest town when I reach the age of 75. I’m nearly 73 now, but thinking I should sell now, as the market seems right.

Each of my houses is tenanted with good tenants who have indicated that they are there for the long term, one already entering a 6th year. Rental yields are fairly good, but as house prices rise unless rents increase (fairly substantially) yields will drop. Ideally, I’d want to sell the properties tenanted.

I would be grateful for any responses from members on this forum to my queries/concerns:
– Should I sell as a portfolio or individually;
– Untenanted;
– Use an agent, if so a high street one or a “specialist” buy-to-let selling agent and if so where do I find one?;
– Selling property can be a messy and drawn out business, something I am not looking forward to, how best can this be minimised?

Any tips, advice, experiences would be welcomed.

Mike



Comments

by Neil Patterson

9:39 AM, 3rd August 2021, About 2 months ago

by Old Mrs Landlord

9:53 AM, 3rd August 2021, About 2 months ago

Don't forget to consider the capital gains tax implications if you decide to sell all the properties in one tax year.

by DSR

10:06 AM, 3rd August 2021, About 2 months ago

I used National Residential to sell a property last year. Yes, swift, and not an issue if you have a tenant in situ as they take it all on, but the reality is you do pay for this as what you get will be lower than if you perhaps sold via a more traditional route (ie estate agent). What you do have to bear in mind is that the bog standard estate agent will probably only be used to selling vacant properties so their clients (unless investors) wont be attracted.
I am currently selling another property using Strike online agency. Tenant in situ but it is being pitched at investors so I'd thought I'd give this a go as its Zero fees etc. No offers as yet.
Other option is to serve your tenants one by one a S21 then when you get vacant possession, sell then. If empty they may me more attractive on the open market to FTB or BTL ?

by Alice Forb

12:39 PM, 3rd August 2021, About 2 months ago

Mike,

I will buy them all at full market price .

by Sanjeev Markanday

13:25 PM, 3rd August 2021, About 2 months ago

Reply to the comment left by Alice Forb at 03/08/2021 - 12:39
I have 2 flats. One in Newbury ,Berkshire.Its a New build about 6 years ago and 1 in London E1W. Both are 2 beds.
Interested?

by Alice Forb

13:28 PM, 3rd August 2021, About 2 months ago

Reply to the comment left by Sanjeev Markanday at 03/08/2021 - 13:25
Hello Sanjeev,

I’m so sorry but I don’t buy new builds. Best of luck though 😊

by Alice Forb

8:14 AM, 4th August 2021, About 2 months ago

Reply to the comment left by DSR at 03/08/2021 - 10:06
Hello, if you have more properties, I’d love to take them off your hands. I’m interested in portfolios .

by DSR

8:19 AM, 4th August 2021, About 2 months ago

Reply to the comment left by Alice Forb at 04/08/2021 - 08:14
No selling up the portfolio but have two 4 bed houses in Birmingham if you are interested? Both currently long term tenanted.

by Marlena Topple

9:02 AM, 4th August 2021, About 2 months ago

Reply to the comment left by DSR at 04/08/2021 - 08:19
Hello DSR
I trying to buy in Birmingham but only is specific postcodes. May I ask what the post codes of your properties are?

by Marlena Topple

9:02 AM, 4th August 2021, About 2 months ago

Reply to the comment left by DSR at 04/08/2021 - 08:19
Hello DSR
I am trying to buy in Birmingham but only in specific postcodes. May I ask what the post codes of your properties are?

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