Today, I want to zero in on the fastest ways to sell your buy-to-let property. I’ve already covered how to sell a rental property with tenants, which included topics like:
- Options for selling a tenanted property
- Whether you need to evict your tenant before selling
- Selling your buy-to-let along with the tenant
- Keeping the tenant in the property while selling
However, landlords who urgently need to sell an occupied buy-to-let often lack information about their options. I’m here to fill that gap.
No doubt, selling a buy-to-let quickly can be complicated and even more so under time pressure. But there might be a solution that hasn’t crossed your mind yet…
To Maximize Profit from Your Buy-to-Let Sale
Yes, I’m aware! I promised to focus on quick sales, but it’s important to address one point: If you’re not in a rush and want to make the most money, selling through a reliable estate agent on the open market is your best option. However, this approach typically takes longer, which can be costly, especially if the market prices are dropping.
An alternative for a quick and lucrative sale could be using a multi-agent solution, such as the one offered by a company named flyp.
When Speed is Your Top Priority in Selling Your Buy-to-Let
This approach might not sit well with everyone.
Indeed, many will find this route unappealing, but for those who can handle the trade-offs, this could be the answer you’ve been looking for.
Based on conversations with industry experts, it’s clear that numerous landlords sell their properties to cash buyer companies—also known as ‘We buy any house’ companies—because of the sheer convenience they offer. They’re not only quick, able to purchase properties within 7 days, but they’re also flexible in terms of the condition of your property and can deal with tenanted properties.
If you’re keen on quickly offloading an occupied buy-to-let, cash buyer companies might be the most effective avenue.
I’ve previously written a detailed post about property cash buyer companies. Here’s a summary of why they appeal to landlords:
- They purchase rental properties with tenants
- They’ll buy properties regardless of condition
- They’re cash buyers
- No fees or costs as they cover everything (including legal)
- Possible to complete the sale in about a week
It’s straightforward to see why sellers are drawn to these companies for rapid sales.
Although there are numerous options out there, I recommend a couple that I consider trustworthy. They’re also my affiliate partners, as I would likely turn to them myself.
Note that while I try to keep the information current, always check the terms and conditions on their websites for the latest details.
The downside? Well, there are two main considerations.
Firstly, expect to sell below market value, typically about 15% – 25% less. This is a significant downside to be aware of. Nevertheless, in a market where property values are falling, a quick cash sale might end up being just as profitable as a prolonged sale on the open market.
Secondly, the cash buyer industry is unregulated, which can attract unscrupulous operators. I’ve pointed out the warning signs to watch out for, so you can steer clear of them and find a reputable company.
Choosing a legitimate cash buyer that is transparent and looks out for your interests is critical.
In conclusion, while selling to a cash buyer company isn’t the most desirable method due to the markdown on market price, it’s undeniably a quick solution. And as they say, time is money!
Disclaimer: I’m just a landlord blogging about my experiences; I’m not qualified to give legal or financial advice. Please consult a professional for any legal or financial decisions.
