Property Trader Sales FAQs

Our property selling process is simple, and we’ve made it this way to help busy landlords get a quick and commercially viable exit on their investment property. Our process goes like this:

  • We visit the property – At the viewing one of our property sale specialists will inspect the property and provide you with a valuation. We can do this confidentiality if your tenant does not yet know that you are selling.
  • We provide you with multiple selling options – We’ll give you values based on a quick sale option (off market) or an option of putting it on the market to achieve the maximum possible price. You choose which best suits your circumstances.
  • We bring you offers – Sit back while we do all of the heavy lifting and market your property in it’s best possible light. We will phone you with qualified red hot offers on your property.
  • We walk you through completion – Once you’re happy with the price that you have accepted, we’ll walk you through legal completion either with your own lawyer or through one of our partner solicitors.

To get started all you need to do is fill out the instant valuation form on our website

We charge the fees for your property sale to the Buyer meaning that you can enjoy a highly effective and cost-free service from Let Property. Our service works slightly differently than a standard estate agent that would normally charge the seller.

We do things differently because we typically deal with investment properties and we will sometimes upsell a full property management service to the investor that buys your property.

This means that you only need to worry about paying your legal fees if you opt for an on market sale and you can be assured that the offer you get is what you get without any hefty fees coming off the top when your property sells.

No, we work on a no-win no-fee basis and all of our fees are charged from the buyer, not you. So you can sell your property knowing that you’re not at risk of paying anything if the property doesn’t sell.

When we discuss selling your property we may offer you options of an on market sale or an off market sale option. The difference is very simple:

On Market – If PRICE is what matters most

When we list on the market, we’ll advertise your property at an Offers Over price through our investor list of over 15,000 investors and through property platforms like Rightmove & Zoopla to thousands of other investors local to you.

This allows you to achieve the highest upside potential on your property and letting the competition of the market decide how much you will get for it.

Selling on the market involves getting professional photography and 3d walk rounds of the property you are selling in order to advertise it in the best list. This is covered for free by us as part of the Let Property selling service.

Although it takes slightly longer for your property to sell on the market (1-2 months), it allows us to attract local investors and build interest through competition which can often achieve a higher price for your property as compared to fixing a price and selling it off market.

The only cost you have to incur to go with this option is to pay for a Home Report which will cost around £400/500. We can instruct one on your behalf through Shepherds Chartered Surveyors but you are also welcome to instruct your own if you wish. We don’t make any money on these, it’s just a requirement that we must have if we list the property on the open market. A home report is not required for an off market sale…

Off Market – if TIME is what matters most

Selling off market involves taking full advantage of our investor list of over 15,000 investors in order to achieve a sale on your property in as little as 7 days.

We first value your property and agree a fixed selling price with you that you are looking to achieve and we market this to our investors by creating a custom made investment pack called the Let Property Pack.

This pack showcases your property in its best light and provides the investor with a full breakdown of your property.

We will then actively phone out investors that we have pre-set criteria taken from through our Let Property Sourcing service and we will find you a buyer at that fixed price, fast!

The best part about all of this is if we don’t sell your property, you pay nothing. We take all of the risk in marketing your property and trying to sell it because we’re so confident that we’ll be able to achieve the price you’re looking for in a quick time frame.

We pride ourselves in that we are able to achieve very comparable prices for a tenanted property sale as compared to a standard residential sale.

There are very rare circumstances where a property is better sold as a residential property over a tenanted property sale, but we will make you aware of this when we visit your property.

You always have to consider the cost of evicting a tenant too. If your tenant is problematic you could end up spending thousands on legal fees and lost rent in order to remove the tenant from the property.

Also, the average landlord reports spending £6,238 on refurbishment costs after the tenant leaves in order to put it to a sellable or rentable standard again.

You’re definitely going to be left waiting for all of this to happen and you will be waiting months for the tenant to leave and for the refurbishment to take place.

And to top all of this off, you’re left with the guilt of removing someone from a place that they have called home for many years.

You are under no legal obligation to accept an offer. However, we want to make sure that you are serious about selling before signing up with us.

At Let Property, we front a lot of costs in order to sell your property including professional photography, negotiating with investors and creating deal information packs. We couldn’t continue to offer a great up front and cost free service like this if you were not serious about selling your property in the first place so as a commitment to our investors we always want to make sure that you are serious before signing up.

If you do accept an offer verbally and it goes through to legal completion, then you pull out, then you may be liable to pay the buyers legal costs that they have incurred up to the point of you pulling out the sale.

If you sell your property off market then a home report is not required and any pre-sale surveys are carried out by the buyer at their discretion.

If you decide to sell using our on market selling option then you are required to pay for a home report in order for us list your property on platforms like Rightmove and Zoopla.

The home report will cost you around £500 and we don’t make any money on this. We can also instruct the Home Report on your behalf if you wish and we use Shepard’s Chartered Surveyors. Once the home report is complete you would pay the invoice directly from them.

If you do accept an offer verbally and it goes through to legal completion, then you pull out, then you may be liable to pay the buyers legal costs that they have incurred up to the point of you pulling out the sale.

Our contracts are very simple and transparent. The high level terms are:

  • We require an exclusivity period of typically 8 weeks to sell your property.
  • If you sell the property somewhere else in that timeframe there will be a redemption penalty of £2,000.
  • If you sell off market all of your legal fees are covered by the buyer but if you sell on market then then you will have to cover your own legal selling fees.
  • If you are selling on the market then you will be required to pay for a home report.

We will always walk you though all of the terms of your contract before signing and we want you to feel comfortable with everything before going ahead.

In order to put the property through legal completion there will need to be a signed tenancy agreement in place. However, we can provide you a tenancy agreement for free as one of our Let Property clients and send out a digital signature request to you and your tenant to sign so that your property can proceed through legal completion.

No – if you sell your tenanted property the new landlord effectively inherits the terms of the tenancy agreement that you already have signed with your tenant so there is no need to prepare a new one.

In order to put a tenanted property through completion you will need the following as it’s a legal requirement for landlords to have these in order to be running a fully complaint tenancy:

  • EICR
  • Gas Safety
  • PAT Test
  • Legionella Inspection & Report

You can instruct these yourself or we can provide all of this for you by purchasing one of our Property Compliance Packages.

Yes, you can use your own solicitor. However if your legal fees are being covered by the buyer due to an off market sale then you will be required to use one of our partner solicitors as we get discounted rates with them due to the amount of business we pass them.

You can opt to use your own solicitor for an off market sale but the fees won’t be covered by the buyer.

Don’t worry… Many landlords are looking to figure out what their property is worth before telling their tenant that they are looking to sell.

We offer a tenant confidential viewing service which means that you don’t need to inform the tenant that you are selling before we value the property.

If you decide to sell your property on the open market then you will have to inform your tenant of a sale as we will need to get access to the property either through your or directly with them to arrange viewings from pre-qualfied and interested investors.

However, if you decide to sell your property off market then there isn’t a need to inform the tenant until an investor is lined up at an agreed price.

It’s important to remember that it’s a real advantage for the tenant when you opt to sell your property through Let Property as we’re experts at finding another investor who is happy to take over the property as it is and see’s it as an advantage to have a long term sitting tenant.

This means that they can continue to live in the property and all they’ll need to do is change the location that they send their rent payment to after the property sells

Property Trader FAQs

Our fee structure is simple.

We charge 12% + VAT (£50 minimum) for full service management.

Our service is made bespoke whether you’re an experienced landlord with multiple properties or just someone looking to get kicked off in the buy-to-let game.

We’re happy to discuss bespoke options to manage your property and assist you in a way that works best for you.

Property Trader Investments FAQs

Yes. If you speak to one of our property specialists, we will be able to advise you on the best next steps to get your property sold if the tenant is not paying rent. We are Buy-To-Let Property problem solvers, so we will often have a solution for you no matter the situation.

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All offers are submitted to the seller for approval. On acceptance of your offer you will be required to instruct a solicitor for Legal Acceptance of your offer. A fully refundable buyers premium may apply to secure a property. This amount is not an additional cost and is refunded in the event of non completion. Terms and payment details will be provided upon verbal acceptance of your offer.