S
stanley1968
New Member
Hi,
In December 2017 I purchased a BTL Property
It was a new property (albeit a converted building) in a town in Yorkshire
I bought it outright as was only around £70k (small one bed apartment in city centre)
I am now having a few financial difficulties and might be forced to try and sell the property
There in a tenant in the property - signed up till June but likely to sign on for another 6 or 12 months
I spoke to the investment company I originally purchased the property through and they said it was best to sell via an property investment company as they would have lists of clients the property could be marketed to and any fees (to them) would be paid by the buyer
However I was told that the market is dead at the moment due to Brexit and none of the Investment Companies are willing to take the property on at the moment until the Brexit issue is resolved one way or the other.
Is this correct or are people still buying BTL Properties ?
Any other ways I could sell it ?
Additionally, I am a bit concerned because my managing agent have just put their fees up due to new legislation and not sure whether its a viable investment nay more unless I reduce the asking price.
Thanks in advance
Stanley
In December 2017 I purchased a BTL Property
It was a new property (albeit a converted building) in a town in Yorkshire
I bought it outright as was only around £70k (small one bed apartment in city centre)
I am now having a few financial difficulties and might be forced to try and sell the property
There in a tenant in the property - signed up till June but likely to sign on for another 6 or 12 months
I spoke to the investment company I originally purchased the property through and they said it was best to sell via an property investment company as they would have lists of clients the property could be marketed to and any fees (to them) would be paid by the buyer
However I was told that the market is dead at the moment due to Brexit and none of the Investment Companies are willing to take the property on at the moment until the Brexit issue is resolved one way or the other.
Is this correct or are people still buying BTL Properties ?
Any other ways I could sell it ?
Additionally, I am a bit concerned because my managing agent have just put their fees up due to new legislation and not sure whether its a viable investment nay more unless I reduce the asking price.
Thanks in advance
Stanley