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Found 11 results

  1. Hi, I'm currently selling my property and during the process my solicitor has advised she needs to request management packs for the paperwork. Both the lease holder and property management company have requested payment of £366 and £540. Are there any capped amounts for these packs? I'd previously tried to sell in 2019 which fell through but had also been subjected to the £540 charge back then, only to be told this charge would only allow an up to date pack for 6 months. I just wanted to know if they're doing this correctly as paying over £900 for 2 PDFs is a joke!
  2. Hi everyone, In order to help make my move into another property strategy I want to sell my current buy to let flat in Hinckley, Leicestershire. Ideally, as it is tenanted with a tenant who is long standing and who doesn't want to leave and wants to keep signing 1 year tenancy deals, I'd like to sell this to a landlord (existing or looking to become one) so I don't have to kick the tenant out. Not really my vibe that as he's a lovely bloke and has kept the place tip top...even doing the odd bit of painting when I offered to get the decorators in to freshen it up. What I don't know though, is there anywhere I can advertise the property to landlords? Is there a place on this website at all? Or does anyone know of any websites at all. In case you wanted to know a bit more about it, here are some more details. 3 stories tall and made of brick Located opposite the train station and supermarket 5 minute walk into the town centre Around 1 mile from the M69 & A5 Within 5 minutes drive, 10-15 minutes walk of numerous schools Doctors surgery next door Also a pub just down the road 2 x bedrooms 1 x bathroom 1 x relatively big kitchen diner and lounge area Currently tenanted with a tenant who has signed for a year until January 2023 Any advice on where I could advertise this would be greatly appreciated. Cheers Joe
  3. Hi all, I have an arrangement with a family member whereby the property was purchased by my sister and essentially "verbally gifted" to me to help me onto the property ladder. We are currently in talks of several scenarios in order to extract the equity/cash from the property in order to help me to build my portfolio. One potential case would be to sell the property and cash in on the current value; apart from the initial capital gains tax, are there any other law/tax penalties we should aware about if she was to transfer a lump sum to me following the sale of the property to fund my property portfolio? Would the situation be further complicated if I was to consider starting a limited company to build my portfolio using the cash received from my sister? Any insight in terms of the most cost effective (and legal) way to do so will be much appreciated. I'm just concerned whether a gift of this magnitude is acceptable in terms of putting a deposit payment on future BTLs in my own name/limited company. Thanks. Kind regards, Rayman
  4. So, first post in the forum - be nice! Long story short, my wife and I own a rental property (3-bed house in SE18, London) that is tenanted for the next 11months. As we've slowly explored the challenges posed by the new tax regime on landlords, we believe our best move is to continue investing via a limited company...however it won't be cost effective to move our current property to one (switching ownership between us isn't optimal either). Question then is "can we sell a property with tenants in it"? Does anyone have experience of this? It clearly lessens the target market just to BTL investors - does this have a hugely detrimental impact on price? All thoughts gratefully received!
  5. Hi! We are about to put our property in London on the market to realise some cash to invest in the North (where we now live). We are quoted around 1%+VAT for the agent's fees which will be just over £10k in fees. Alternately I've been looking at Tepilo and Purple bricks where the full service including viewings is around £1800. Has anyone had experience of using these guys? Given our tenants may give notice and move out before it is sold the extra saving to cover any voids makes sense. Difference is fee is payable even if they don't sell it! However It may also enable us to price for a quick sale.
  6. Hi everyone, We are looking to sell a property in Bedminster and so far we are not convinced by our agent's efforts and might be looking to switch. Does anyone have any recommendations for a more proactive member of the species who has good local knowledge? TIA!
  7. Hi all, I was having a lively discussion with some fellow investors and wanted to hear what people on this forum think. Whether you're a seller or a landlord, how do you choose which agent to market your property? I've had 3 projects with 3 different agents and I can't say I've nailed down a system yet. First, I went with the cheapest, thinking it was good business sense. But of course, you get what you pay for, which I learned the hard way. Then I went for the agent who originally sold me the property - thinking they know the property and how much work I put in renovating it. And lastly I went with a personal recommendation from a friend who had a good experience. All 3 eventually sold, which means I can't complain too much, but I want to develop some kind of rule/decision process to make this easier. What does everyone else do?
  8. Hi everyone, I am selling a flat in north London - I'd be interested in a quick straw poll of estate agent fees. I know online agents are very cheap, but I'd be interested in hearing people's experience of local agent commissions. I will speak with a few agents, but would be good to get some general feedback from hubbers first. Thanks
  9. Suppose a beneficial owner of a property - not the sole beneficiary, wants to use his share of the capital invested in the house to buy another property. If the sale is in the hands of an executor, then how can this be organised. The beneficiary cannot buy a house until the executor sells the other property. Renting seems a poor option because of the 6-12 month tenancy agreement. What would be the solution?
  10. I am looking for some advice please. I am struggling to sell my house at the moment so I have looked into selling or renting to a housing association, has anyone had any experience of this? If anyone has any advice or could share their experience this would be really appreciated.
  11. Hey everyone, looking for some advice Myself and my mum own two properties which are managed by a property management company. We've had them for nearly 5 years, and they've always been managed because we live in the South and the properties are in the North. Due to a recent change in circumstances, we're looking to sell both as my mum is currently struggling to pay her own mortgage and she's looking the recoup the investment made 5 years ago to pay off the remaining mortgage on her own home. Here's the issue... One of the properties has tennants in it and paying, so we're not too worried about this one just yet. But what can we do in terms of selling this one? Do we wait until the tenancy agreement is over and then we can put it on the market? The second one is a right pain, and the tennant hasn't paid money personally since July. It's all come from Housing Benefits, and the management company sent money up until November to cover the voids as they're then going to claim the housing benefits back. It's currently going to court as she's saying that she doesn't want to move out, and challenging the fact they cut her housing benefits because they were paying her too much... The property management company are saying they can't evict her, even though she's on a 6 months tenancy agreement, and that was up a couple of months ago. Although she has problems paying and a 16 year old, our situation isn't rosey either and we need to sell to raise money to pay our own mortgage. Are you property management company just dragging this out so we don't sell? Can we simply evict her ourselves and put the property on the market? We advised the property management company 15 months ago that we wanted to sell. They advised that selling isn't the best option so they would look to find investors to take over. Nothing has come from this. What route can we take to sort this out as soon as possible? I'm not really involved and trying to advise my mum on the situation. We lost our Dad 6 years ago and invested some of the inheritance into the two properties. Any additional information please let me know.
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