Selling a tenanted property in Liverpool can be a challenging process, especially if you're dealing with long-term tenants, worried about new incoming regulations or legislation, or you need to sell quickly. Whether you’re a landlord seeking to liquidate a single buy-to-let property, a seasoned property professional with a small to medium sized portfolio or you’ve inherited a property with sitting tenants, navigating the sale can be tricky.
In Liverpool, you have two main options: you can either sell through a traditional estate agent or use a fast cash property buying service, like ours. In this guide, we'll walk you through the pros and cons of each option and explain why choosing a fast cash buyer may be the better solution for many property owners.
We're experts in buying tenanted properties and have 20 years of experience in the Liverpool property market.
Why Would You Sell a Tenanted Property?
There are several reasons why landlords decide to sell properties with tenants in situ, including:
Cash Flow Problems: If the property isn’t generating enough rental income or you've had issues with non-paying tenants, selling your property can help you recover financially. If you own more than one rental property, selling just one or two properties within your portfolio could help ease the financial pressure you may be facing.
Investment Liquidation: Perhaps you're looking to release funds for other investments, reduce portfolio risks, or take a break from the landlord business.
Inherited Properties: You may have inherited a tenanted property and don't want the hassle of managing it.
Changes in Legislation: Recent shifts in UK property legislation have made managing rentals more difficult for some landlords. Increasing taxes, energy efficiency rules, and stricter regulations are prompting many landlords to exit the market.
What Are Your Options for Selling a Tenanted Property?
When selling a tenanted property, you generally have two main choices: selling with tenants in situ (meaning the tenants remain in the property) or giving notice to the tenants to move out and then selling the property with vacant possession.
Here are the common routes:
Selling with Tenants in Situ
This allows you to sell the property without disrupting your current rental income.
The buyer inherits the tenants and the existing rental agreements
Suitable for landlords or investors looking to buy and rent out immediately.
Selling Vacant
You issue notice to the tenants, giving them time to vacate before putting the property on the market.
This is typically more appealing to homebuyers, rather than investors.
The process can be slow, as you have to wait for tenants to leave, and you could face legal complications if they refuse.
Selling Your Tenanted Property via a Traditional Estate Agent
When selling your tenanted property through a traditional estate agent, there are a few key things to keep in mind.
The Process
Valuation: The estate agent will first evaluate your property, factoring in the tenanted status. Typically, tenanted properties might attract a lower market valuation compared to vacant homes.
Marketing the Property: Your property will be listed on platforms like Rightmove and Zoopla, marketed to other landlords or investors. However, attracting interested buyers can take time, especially if tenants have long leases or if the property is in poor condition.
Legal Complications: Selling with tenants requires compliance with tenancy agreements, and the buyer must be made aware of all legal responsibilities. Disputes between landlords and tenants can make sales through estate agents complicated and drawn out.
Delays in Completion: With estate agents, there’s always the risk of the sale falling through due to mortgage issues, lengthy chains, or buyer cold feet. The process can take months, leaving you without a guaranteed outcome.
Drawbacks of Using an Estate Agent
Long Time Frames: Selling through an estate agent is time-consuming, often taking 6-12 months from listing to completion, especially when tenants are involved.
Risk of Sale Falling Through: Chains, buyer financing problems, or legal complications can cause delays or even collapse the deal.
Inconsistent Rental Income: If tenants leave or rent payments falter during the sale, you will still need to keep up with any mortgage payments, so your income could be negatively impacted while the property sits on the market waiting to be sold.
Lower Valuations for Tenanted Properties: Many buyers will expect a discounted price when purchasing a property with tenants in situ.
Why a Fast Cash Property Buyer is a Better Option
You may never have even considered using a "Fast Cash" service before but if you want to sell your tenanted property quickly, without the hassle of a drawn-out process, using a fast cash property buyer in Liverpool might be the perfect solution.
Here's just 7 reasons why it could be the ideal selling process for you!
Guaranteed Sale
Fast Cash buyers like us make cash offers for tenanted and commercial property in Liverpool. There’s no risk of the sale falling through at the last minute due to mortgage issues or chains collapsing.
2. No Need to Evict Tenants
You can sell your tenanted property without issuing notice to your tenants. The new owner takes over the tenancy, respecting the existing rental agreement, saving you from potential legal disputes or costly evictions.
3. Speedy Transactions
Unlike traditional estate agents who can take months to secure a buyer, cash property buyers like us aim to complete the sale in just 28 days. This means you can move on with your finances without waiting around for a buyer to get mortgage approval.
4. No Hidden Fees or Commissions
One of the major benefits of using a fast cash buyer is that there are no estate agent fees, legal costs, or marketing expenses. A typical estate agent will charge 1-3% of the property value, which can amount to thousands of pounds. With a cash buyer, the price you’re offered is what you get, with no deductions.
5. Flexibility and Convenience
Selling through an estate agent often requires viewings (and tenants can be awkward about allowing these to happen smoothly!), inspections, and time-consuming paperwork. In contrast, cash buyers streamline the entire process, offering a stress-free and flexible sale. You can avoid disruptions to your tenants and complete the sale on your terms.
6. Sell Properties in Any Condition
Even if your property is in poor condition or if your tenants haven’t maintained it well, we will consider buying it from you. You won’t have to invest money into refurbishments, saving you time and hassle.
We buy Tenanted Property in Liverpool in ALL states of repair so whether you need a new roof, there is damp or mould inside the property, you need a new boiler or it needs an entire rewire, that will not put us off.
7. Competitive Cash Offers
While we may offer slightly below market value, the certainty of a quick sale, along with the savings on agent fees, repairs, mortgage repayments, loss of rental income, insurance, rates and all of the other landlord related costs, often makes the "Fast-Cash" selling option more profitable for landlords.
Additionally, the peace of mind of a fast, secure sale is priceless for many sellers and allows many to move on with their lives stress free.
How to Sell Your Tenanted Property for Cash in Liverpool
If you’re ready to sell your tenanted property in Liverpool, here’s a step-by-step guide to working with Properties Bought 4 Cash:
Get in Touch for a Free Valuation
Get in touch! We offer free and no-obligation consultations and property valuations. We'll meet you at the property and talk about your options.
You’ll receive a quick estimate based on the current market value and the tenanted status of the property.
After evaluating your property, we will make you a cash offer. Typically, this process is quick, and you could have an offer within 24-48 hours.
If you’re happy with the offer, we will then guide you through the terms of the sale. We will instruct our lawyers and handle all the legal aspects, including transferring the tenancy agreement, ensuring everything is done legally and smoothly.
Once the paperwork is signed, the sale can complete in as little as 28 days. You'll receive the cash directly, with no hidden costs or fees.
We can take all of the stress out of your situation in just 28 days
Selling your tenanted property in Liverpool doesn’t have to be complicated. While traditional estate agents may offer a route to the market, the long timelines, potential legal issues, and risk of failed sales make it a less attractive option for many landlords.
Using a fast cash property buying service like ours offers a faster, hassle-free alternative, allowing you to avoid delays, retain rental income, and enjoy a guaranteed sale.
If you’re looking to sell your tenanted property quickly and without stress, contact us today and one of our friendly and discreet team members will be pleased to talk to you.
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