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I have a had a tenant for 5 years who would like to buy my property.Has anyone any special advice they can give me? My lawyer will be drawing up the sale and purchase form.
If you are not financing them but they are simply buying the place there is nothing special to know. Just make sure you get a fair price. If however you are vendor financing or "wrapping" the property then you need to have appropriate documentation in the contract as you will have an ongoing relationship with the tenant as their bank for many years. If it is a wrap let us know as there are some forumites with plenty of experience in that area who will undoubtedly have soem helpful comments.
Im not sure if you will have to give official notice of vacation when the buyer is your tenant?
Not really an issue. Sell it with vacant possession if you must but what is wrong with selling with a tenant in place??? Some how I think they will know that there is a tenant occupying the house.
I suppose one of the issues would be the transfer of the bond from one owner to the new one
But I would ensure that selling it falls in line with my business plan.
Counter cyclic means always swimming against the tide
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