The first thing to understand is that you are likely to have to accept offers 10%-20% below market value if you sell with tenants in situ. If you’re content with that then you do nothing very much. The new owner will “step into your shoes” and the existing tenancy will continue. Any arrangements after that are up to the new owner/landlord.
A sensible investment buyer will want to ask you a very large number of questions about the property and the tenancy as part of their due diligence, so be prepared for that.
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We bought a flat on a BTL mortgage with tenant in situ, rented it out for some years, then sold it with vacant possession.
If you’re using a BTL mortgage to fund the purchase with tenant in situ, their legal department will want to scrutinise the AST agreement and the lender will want to know the precise rental income, and possibly even whether the tenant is on benefits.
In the current climate I wouldn’t be surprised if lenders have pulled out of BTL tenant in situ lending altogether.
Sounds like you’re a T. And I don’t see that you know what you’re talking about. Just Cliche guilt-tripping frases. Not helpful.
Who is a tenant? Posts that reply to no-one in particular are confusing.
You’re welcome to put them up as you’re such a wonderful caring landlord.
I’m sure you would house them for free.
Viability means nothing does it.
You clearly have no understanding.
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