Buying an investment property off market - why it's a good idea
With the increase in numbers of buy to let investors looking to take advantage of the fantastic returns available in parts of Scotland, its becoming more appealing to look at the options available offmarket as the open market is increasingly competitive. Many buy to let hot spots are commanding sale prices well over home report so off market might seem easier and possibly might allow you to purchase a property without getting into a bidding war !
Off market options can work well for buyers and sellers.
From a sellers point of view it can mean reduced fees, it allows them to sell the property without asking the tenant to move out ( so no void periods and getting rent right up to the day they stop owning the property, and less guilt that the tenant is losing their home) and it can be less hassle. And often investors are cash buyers so there might be less chance of any fall through on the sale.
From a buyers side, it means less chance of bidding wars (see above), instant income from the sitting tenant, normally less cost as all the regulatory items will be taken care of (saving potentially around £500) and a definite idea of figures as you are not guessing the achievable rent, you already know for sure.
We have a number of off market buy to let options, with a variety of yields right up to properties generating over 10%. If you might be interested in selling or buying off market email me - email@example.com
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