We are planning to sell our tenanted property next year. We are considering 2 options:
1) Issue Section 21 to existing tenant (it's monthly periodic) so that we can sell a vacant property on the open market. We don't want to sell it with a tenant in situ
2) Offer to sell the property directly to the tenant. We'd pass on the discount for agents fees and typical fix up for sale
We haven't discussed it with him yet because we are unsure how to actually do it. If he accepts, should we issue a Section 21 anyway in case he can't get a mortgage? Are there any other 'gotchas' we should be aware of?
1) Issue Section 21 to existing tenant (it's monthly periodic) so that we can sell a vacant property on the open market. We don't want to sell it with a tenant in situ
2) Offer to sell the property directly to the tenant. We'd pass on the discount for agents fees and typical fix up for sale
We haven't discussed it with him yet because we are unsure how to actually do it. If he accepts, should we issue a Section 21 anyway in case he can't get a mortgage? Are there any other 'gotchas' we should be aware of?
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