Sell a house with tenants in Milton Keynes.
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Sell A Tenanted Property in Milton Keynes
Are you looking to cash in on your tenanted property in Milton Keynes? If the answer is yes, you’ve come to the right place. Over the last several years, we’ve helped countless landlords in and around Milton Keynes to sell their tenanted property quickly, efficiently, and completely hassle-free.
If you’d like to explore the opportunity of selling your tenanted property with us, please complete the enquiry form on our website. Then, one of our friendly staff members will get in touch with you as soon as possible to give you our free, no-obligation cash offer for your property in Milton Keynes.
Get a free cash offer for your house in Milton Keynes
Is now a good time to sell your tenanted property in Milton Keynes?
Despite the small drop in price during 2023 compared to 2022, property prices in Milton Keynes in 2024 are on the rise. So if you’re looking at getting as much out of your tenanted property as possible, now would be a great time to sell.
As you already know, the UK is currently going through a recession, and nothing is certain – including the stability of the property market. So, if you’d like to cash in on your property while property prices are still high, we recommend that you start to take action as soon as possible.
How it works
Sell with tenants in Milton Keynes: How the process works
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Go ahead and leave the paperwork to us
If you proceed with the sale, you can rest assured as we do the legwork on your behalf. This includes arranging an independent solicitor to produce the legal documents, booking a surveyor and any other tasks as needed. There are no fees for this service and you’ll receive the full amount quoted in as little as 7 days – unless the survey highlights a major issue.
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We’ll call you within 24 hours to discuss the offer
After your initial enquiry, our cash buying team will contact you via phone within 1 working day. During the call, we’ll ask you some further questions before issuing a formal, more precise offer in writing. We can also answer any queries you have before leaving you to mull it over.
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Let us arrange the sale for a date that suits you
Ready to sell your tenanted house in Milton Keynes via We Buy Any Home? Great news! Just let us know your preferred completion date and we’ll get everything arranged. This includes the legal paperwork and survey, and transferring the tenancy agreement – all in as little as just 1 week! Better yet, every sale is 100% guaranteed – something estate agents can’t promise.
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A closer look at assured shorthold tenancy agreements
An Assured Shorthold Tenancy (AST) agreement is a type of legally binding contract that both the tenant and the landlord sign before handing the keys to the property. This contract gives the new tenant the legal grounds to live in the property for a predefined period without fearing eviction.
When selling a tenanted property, ASTA contracts typically won’t get in the way of making the sale, but they can make the process of selling a property with tenants in Milton Keynes slightly more complicated. Examples of potential complications include:
- Breaching the ‘Quiet Enjoyment’ right that your tenant has during viewings
- Having to refurbish the property to make it more appealing while tenants live in it
- Having to give notice to your current tenant to vacate the property as the new buyer doesn’t want tenants in it
As you can see, when selling a property with tenants, the process may get a little complicated and stressful. If you don’t want to go through all of that to sell your house with tenants in Milton Keynes, that’s where we come in. If you’d like to find out more about how we work, keep on reading.
How our process of selling your tenanted property works
We know how difficult it can be to sell a tenanted property in Milton Keynes. That’s why we made it simple. If you’re thinking about selling your tenanted house with us, here is a brief overview of what our process looks like:
- The first thing you need to do is complete the enquiry form on our website. That way, we will have all of the relevant information we need about your property
- Upon receiving your enquiry form, one of our friendly staff members will get in touch with you
- During the call, you will be presented with a free, no-obligation cash offer for your tenanted property
- Once you receive the cash offer for your tenanted property, you can then think about it
- If you’re happy with the offer and wish to move forward, we will send you some basic paperwork, which you need to complete and send back to us
- Once the completed paperwork is received, our team of solicitors will be notified
- Our property surveyors will also be made aware of your decision so they can come around and value your property
- Once the valuation report and the legal checks come back, we’ll submit a final offer for your tenanted property
- The last thing you need to do from here is decide on a date when you want the sale of the property to be completed
- On the date you have provided, the sale of your property will be completed and you will receive your funds
Free cash offer within minutes, any condition, any location.
Selling A Tenanted Property in [location] FAQ’s
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Can I Sell My Tenanted Property?
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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 Notice Do I Have to Give a Tenant if I Want to Sell My House?
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How Much Does It Cost to Sell a Tenanted Property?
Yes, you can. There is currently no law in the United Kingdom that would prevent you from being able to sell your property while it is rented out. That being said, there are a few additional steps that you need to take when selling a tenanted property.
For example, you’ll have to transfer over the contract to the new owner alongside the damage deposit that was paid out to you by your current tenant. Once that’s done, they become the responsibility of the new owner.
Can I Sell My Tenanted Property?
Yes, you can. There is currently no law in the United Kingdom that would prevent you from being able to sell your property while it is rented out. That being said, there are a few additional steps that you need to take when selling a tenanted property.
For example, you’ll have to transfer over the contract to the new owner alongside the damage deposit that was paid out to you by your current tenant. Once that’s done, they become the responsibility of the new owner.
What Happens if You Sell a Property With a Tenant in Situ?
When you sell a property with tenants in Milton Keynes, you have the responsibility to transfer the contractual agreement over to the new owner alongside the damage deposit, and anything else of relevance that will make the transition as smooth as possible.
After the sale, your tenants will remain unaffected. The new owner has to obey the contractual agreement. Once the agreement that you and your tenant signed expires, the new property owner can then decide to do with the property as they please.
Is It Better to Sell a House With or Without Tenants?
When you sell a house with tenants in Milton Keynes, the sales process is relatively similar to that of a standard property. The only thing that you need to pay attention to when selling it is the type of people that you generate interest from.
If you’re getting viewings from fellow landlords, then yes, having tenants in the property already is better as you will save the new owner of the property a lot of time, energy, and money in looking for a tenant.
The opposite goes if you’re generating interest from people who’d be looking at living in the property. In such a case, they’d have to evict the current residents, and that can take a substantial amount of time – in most cases, at least 2 months.
Why Are Houses Sold With Tenants?
Having worked with many landlords who have sold their tenanted properties through us, there are more than a handful of reasons why houses are being sold with tenants. In some cases, if the buyer is a buy-to-let investor and passing on an already rented-out property to another landlord makes sense. That way, both parties are happy, and the tenant remains unaffected.
In other cases, landlords might just be tired of being landlords or want to cash out on their properties without having to wait for the 2-month mandatory notice period to expire. As we’ve mentioned already, selling your property while the property is actively being rented out isn’t illegal.
It’s a perfectly normal practice and the best thing about it is that you’ll not only get the money for your property sooner but that your tenants’ contract will be respected and they will not be affected in any way until its expiration.
Is It Easier to Sell a House With Tenants?
Having a tenant residing in your property can make the sale of your property much easier and much more difficult at the same time. Although the selling process is relatively similar to that of a property that is empty, the people interested in buying it can be the ones that can make the process easier or more awkward and difficult.
For instance, if you’re generating a lot of interest from first-time buyers, families, or anyone else who’d be looking at moving into the property, it’s easy to see why having tenants can make the sale of your property more difficult.
On the flip side, if the interest you’re generating is from other landlords and property investors, having the property already rented out is a welcomed benefit. That way, the new owner won’t have to look for a new tenant and they’ll make money from their investment from day one.
How Much Notice Do I Have to Give a Tenant if I Want to Sell My House?
That depends on whether you plan on selling your property with or without the tenant living in it. If you don’t mind selling your rental property while the tenant lives in it, there is no reason for them to leave, so you don’t need to give them any notice.
In such a case, you can notify them of the sale and just go about the normal process for selling a tenanted property (they will not be affected in any way – not at least until the end of their contract with you).s
If you have to sell the house without tenants living in it, according to the Housing Act of 1988, you need to give your tenants a 2-month notice period.
How Much Does It Cost to Sell a Tenanted Property?
The price you can expect to pay when selling a tenanted property will vary on the way you decide to sell your property. If you decide to go through an agent, depending on the value of your property, you can expect to pay anywhere from £5,000 to £10,000 or more in commission and legal fees.
Thanks to cash house buyers like We Buy Any Home, you no longer have to pay such absurd fees when selling your house with a tenant in Milton Keynes. If you’d like to explore the option of selling your tenanted property with us, please fill out the enquiry form on our website, and we’ll get in touch with you with a free, no-obligation cash offer as soon as possible.
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