LANDLORD SELLING SERVICE- 0% FEE
Oulsnam Lettings have now developed a landlord selling service to help both our landlords and some new landlords looking to sell their properties as easily as possible.
Why do landlords sell?
- Nervousness- Many landlords find the changes in legislation scary and difficult to keep up with (particularly those that don’t use us to manage their properties)
- Sell a higher value property to buy multiple lettings properties instead- often higher value properties don’t attract high yields where as having 2 or more lower value properties usually have high yields and also spreads the risk between properties.
- Tax changes making it harder to make a good net yield.
The landlord selling service
Our new landlord selling service makes it cheap and easily to sell your letting property via the modern method of auction. This is an up and coming development within estate agency and is a win win for most sellers given they don’t pay any estate agency fees. The fees are paid for by the buyer who pays a percentage on top of the hammer price.
Does this not put buyers off bidding or affect the sale price you may ask? You would think so wouldn’t you? If you any of you have ever bid for items on eBay you will see how easy it is to get your heart set on winning an item and get carried away. This is exactly what happens with an online property auction and often properties will sell for more than the other properties on the same street via traditional method of sale.
Another important difference between this style of auction and traditional style is that buyers can buy using a mortgage and do not have to be cash buyers, therefore a fair market value will always be achieved in a swift and secure manner.
How does it all work?
- Valuation- our auction specialist will agree and discuss an undisclosed reserve price (the price your property will not sell for any less than) and a starting bid (the price that the property is marketed to generate interest).
- Marketing photographs and details will be prepared by Oulsnam
- The auction pack will be prepared- this will include all legal documentation and searches
- Pre-auction marketing- the property will be advertised whilst the auction pack is prepared to generate as much interested and exposure as possible. Viewings will also happen at this point
- Your property goes live on the online bespoke auction site
- Bidding commences. Bidders must download the auction pack and accept the terms before bidding and this can be done 24/7 until the auction ends.
- The auction ends and the highest bidder must pay their reservation fee to secure the property.
- Completion- On average this will happen between 28-56 days of the auction ending
You keep the full price achieved with 0% commission. The only thing you have to pay for is the auction pack which is usually between £125-£160.
The even better news is landlord’s don’t necessarily need to have a vacant property in order to sell- you can sell the property with a tenant in situ.
If you are interested in selling you house via our landlord sale service please contact us on 0121 445 7410 or email email@example.com