Sell house with tenants in Glasgow.
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Sell A Tenanted Property in Glasgow
We make it possible to sell with tenants in Glasgow:
- Cash house buyer
- No additional costs or hidden fees
- Your timeline
Glasgow is home to four universities and the second-highest student population in the UK. Additionally, Glasgow offers a vibrant scene with arts and music on offer. As a result, many properties in Glasgow are privately rented and provide investment opportunities for property owners.
Here are some statistics:
- Long let gross yield is 8.1%
- The average property price in Glasgow is around £177,812, according to HM Land Registry.
- 20% of 297,070 residential properties in Glasgow are privately rented
It is common for property owners to need to sell with tenants in Glasgow. This can be challenging to manage and isn’t always possible on the open market. When you choose to sell a tenanted property, you may find that the buyer pool is limited to other landlords. This reduces the chances of a quick sale if you cannot find a buyer.
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How it works
To get started on selling your tenanted house in Glasgow, you can expect the following simple stages.
Free cash offer within minutes, no legal fees, any location.
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Initial enquiry
Simply get in touch through our enquiry form to get a free cash offer for your property. All we require are the property details and your contact information.
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Receive an offer
Next, a member of our experienced buying team will be in touch within 24 hours to provide you with an initial offer. They will consult third-party information sources like LandRegistry and industry knowledge to calculate the market value. If you’re happy with the offer, we will send it in writing or through the post.
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Final offer and purchase completed
Once you’re ready to accept the form, some necessary paperwork will be required. Following this, we’ll arrange for a maximum of two RICS-certified surveyors to value the property, and we’ll appoint a solicitor too. This will be of no extra cost to you. Once we have received all the reports, we’ll be able to make a final offer. If you accept, we’ll be able to complete the sale.
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Selling a Buy-To-Let Property
When choosing to sell a tenanted property, there are a few things to consider. One of those things is if it is a buy-to-let property.
Due to financial concerns, landlords may look to sell properties to reduce the financial burden and benefit from higher property values while they can. However, selling a tenanted property may mean that it can take longer to find a buyer.
Recession and Covid-19 impact
Due to financial concerns, landlords may look to sell properties to reduce the financial burden and benefit from higher property values while they can. However, selling a tenanted property may mean that it can take longer to find a buyer.
Section 24 Landlord and Tenant Act
The change to this legislation has affected private landlords across the country. As mortgage interest and other property finances are no longer tax -deductible, the financial incentive of renting out property is slowly being reduced. This means many landlords are looking elsewhere for investment opportunities.
EWS1 Concerns
Due to the Grenfell tragedy in 2017, it is mandatory for flats with cladding to be given a formal safety review. Without getting this review, you may find that potential buyers cannot get a property loan due to the risk. However, at We Buy Any Home, we purchase properties using our funds and do not need approval from third-party lenders; therefore, we are in a position to purchase your property.
Problem Tenants
Tenants who have caused issues are another reason landlords may be looking to sell. It may just not be financially motivating enough to continue. At We Buy Any Home, we’ll purchase properties with problem tenants and take over a tenancy agreement. We can also buy properties with tenants refusing to leave.
Free cash offer within minutes, any condition, any location.
Selling A Tenanted Property in Glasgow FAQ's
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What happens if you sell a property with a tenant in situ?
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Is it better to sell a house with or without tenants?
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Why are houses sold with tenants?
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Is it easier to sell a house with tenants?
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How much does it cost to sell a tenanted property?
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What areas do We Buy Any Home cover?
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How much notice do I have to give a tenant if I want to sell my house?
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Can you sell a tenanted property in Scotland?
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Can I sell my tenanted property?
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Can you sell a property with a sitting tenant in the UK?
If you choose to sell a property with a tenant, you will need to try and find a buyer who can take over the tenancy agreement. Should you fail to do so, you’ll need to evict the tenant to sell to regular buyers. At We Buy Any Home, we can purchase your property with or without a tenant in place. Simply, get in touch to get a free quote now.
What happens if you sell a property with a tenant in situ?
If you choose to sell a property with a tenant, you will need to try and find a buyer who can take over the tenancy agreement. Should you fail to do so, you’ll need to evict the tenant to sell to regular buyers. At We Buy Any Home, we can purchase your property with or without a tenant in place. Simply, get in touch to get a free quote now.
Is it better to sell a house with or without tenants?
It’s easier to sell a house with tenants if you have access to a large pool of landlords or investors who can purchase the property and take over the tenancy agreement. However, if you struggle to find other investors on the regular market, you may struggle with tenants still living there.
Why are houses sold with tenants?
Houses are often sold with tenants as it is an investment opportunity for another landlord. They do not have to find new tenants and can simply continue where the previous landlord had left off.
Is it easier to sell a house with tenants?
It’s easier to sell a house with tenants if you have access to a large pool of landlords or investors who can purchase the property and take over the tenancy agreement. However, if you struggle to find other investors on the regular market, you may struggle with tenants still living there.
How much does it cost to sell a tenanted property?
The cost of selling a tenanted property in Glasgow can add up. The costs range from estate agents, solicitors and refurbishments that will be required to sell on the open market. With We Buy Any Home, there is no cost to a property owner; we provide a free cash offer with no hidden fees or upfront costs.
What areas do We Buy Any Home cover?
We Buy Any Home can buy any tenanted property in Glasgow. We are the UK’s number one home-buying company. Get in touch through our online enquiry form and we can provide a free cash offer.
How much notice do I have to give a tenant if I want to sell my house?
If your tenant has lived in the property for more than six months, and you are evicting them for the reason of selling, you must give them 84 days’ notice. If less than six months, it will be 28 days.
Can you sell a tenanted property in Scotland?
Yes, as long as you follow the agreements in the assured shorthold tenancy agreement, you can sell a talented property. The easiest way to sell is through a cash purchase home buyer like We Buy Any Home.
Can I sell my tenanted property?
Yes, as long as the terms stipulated in the assured sharehold tenancy agreement are followed, you will be able to sell a tenanted property.
Can you sell a property with a sitting tenant in the UK?
Yes, as long as the new buyer can take over the assured shorthold tenancy agreement.
Get a free cash offer for your home in Glasgow
Selling a property with tenants in Glasgow
When deciding to sell a house with tenants, you are faced with two options. Selling to another landlord or selling to a regular buyer. Here is how it works:
Selling to another landlord.
When you sell the property to another landlord, the most significant benefit is that the tenants won’t need to move out. Instead, the new landlord will take over the assured shorthold tenancy agreement that you will have in place. They will honour the contract until it ends. It’s a win-win for you, the new owner and the tenant. Additionally, you won’t stand to lose out on any rental income, as you’ll still get paid until the date of the purchase.
We can also act as a new landlord for existing tenants. So if you need a buyer to sell your house with a tenant in Glasgow, we’re available.
Sell your property to a regular buyer
If you cannot find another landlord to sell your tenanted property to, you may need to look into selling to a regular buyer. This process will take longer and will mean you will have to ask the tenants to leave. Essentially, you will have to activate the Section 21 notice of your Assured Shorthold Tenancy Agreement as a no-fault eviction. This will mean your tenant will have to leave, and you will have to wait for the eviction notice to end before being able to sell your property. This may be a difficult choice; however, if you cannot find a landlord to take over the agreement, it may be your only option. If you need a faster process, we can purchase your property, whether you have tenants or not.
Assured Shorthold
Tenancy Agreement
Trying to sell a property with tenants can be challenging with the Assured Shorthold Tenancy Agreement. This is due to the fact that the lease is a legally enforceable agreement that guarantees renters have the right to exclusive use and enjoyment and stipulates a minimum amount of time during which they can occupy the property without fear of eviction. In addition, trying to sell a property while the tenant is still in the property can be difficult when considering the following factors:
Viewings
When selling on the open market, interested buyers will need to come and view the property. This will likely disrupt your tenant and make it hard for potential buyers to view the property. We Buy Any Home, on the other hand, can place an offer on a rental property without actually seeing it.
Refurbishments
Another issue that may arise is getting the property refurbished to compete with other similar listings. With tenants still living there, this may not be possible and may not be worth it if the property takes longer to sell. This will mean waiting longer for the tenants to leave and then carrying out refurbishments without the additional rental income for that period. We buy homes in any condition at We Buy Any Home. We don’t worry about minor cosmetic flaws because we base our assessments on market worth. So if you don’t want to spend more time and money making the house ready for sale, contact us for a free estimate.
Read more about Selling A Tenanted property in Glasgow
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