Investopedia define a seller’s market as a market condition characterised by a shortage of goods available for sale, resulting in pricing power for the seller?…
That feels pretty bang on the money for the UK property market right now, don’t you think?
In fact, this year probably feels the most like a seller’s market than any market our resident expert in all things buy to let, The Professor, can remember for a long time.
We know from our own wonderful clients just how much traffic has been coming our way since the beginning of the year, and they’re often asking us for our top tips for selling a buy to let property, so we’ve decided, with the help of The Professor, to put our top 5 here just for you.
Get a valuation
First things first then – property has been shooting up in value in recent years, so you need to know how much your property is worth.
Here at yieldit, The Professor has you covered when it comes to this! Find out what your property is worth in seconds with this free property valuation tool, allowing you to know exactly how much your property has increased in value since you purchased it.
The market is buoyant at the moment with house prices on the up! Just this month it was announced that UK property has grown at its fastest rate since 2004, with year-on-year price increases hitting a huge 13.4%.
So, even if it’s something you’re only thinking about right now, get a valuation to see where you’re at.
Understand the tax implications
Selling an investment property is different to selling your residential, or main, home as you may be liable for capital gains taxes.
We can help on this one too as we have dedicated investment specialists who can talk you through this and ways that you can be more tax efficient when selling your property.
Prepare for viewings
It may feel like an obvious point, but we’ve lost count of the number of times we’ve had to remind people that whether tenanted or not, their property must be in a good and tidy state for viewings.
Luckily, yieldit and The Professor have experts on hand that can help you with this and arrange viewings for you to ensure that you’re not stuck showing people around when you’ve got better things to do.
Sort out the legal side
You’ll need a good solicitor to be able to tie up the legal side of transferring ownership, funds, and the like, however, our team can help you out by letting you know what you’ll need to do.
A good solicitor is key in these situations to get things done quickly and wrap things up in good time.
Get a great agent
Another potentially obvious one but selling your property can be stressful if it’s something you try and do on your own, which is why The Professor can help.
Get in touch with us today and we – with the help of The Professor – can assist you by assigning one of our specialists to help you out with every step of the way, from valuation, to completion of the sale, to after sale care!
If you want to learn more about The Professor, visit our about page here and head over to our YouTube channel to see him front and centre in our selection of buy-to-let videos!
