2007-06-03 05:01:29 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes you can. There would need to be some form of covenant attached to the sale stating that your parents can live there in defiantly, providing that they for fill the terms of a tenancy agreement and also in the event of the property being sold on again. Not a cheap option as the sale price will be reduced to take account of this. It is also worth ensuring that rent increases are not applied above the rate of inflation, or better still at no more than a fixed % each year. This will safeguard them should inflation rocket away....
2007-06-03 05:20:21 · answer #1 · answered by Nev 4 · 1⤊ 0⤋
Local councils have whats called a buyback scheme, where they buy your house, you get the money and then its rented out. In this case would be rented to your parents. Im not sure what the charges are or if the price is fair for the house but it is definitely an option.
2007-06-03 09:28:33 · answer #2 · answered by Claire D 2 · 0⤊ 0⤋
You could market it as an investment property. If someone out there is looking to invest in a buy to let property they would perhaps be glad of an existing good tenant. It would however narrow your selling potential down as not everyone is looking for this type of property - but it would not be impossible.
2007-06-03 20:23:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Selling at public auction is the simplest method for investment properties.
You need to make sure a bona fide lease is made up first to protect your parents tenure. An AST will not suffice.
2007-06-04 05:10:47 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Sure, sell it to an investor that wants to be a landlord.
2007-06-03 05:04:18 · answer #5 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Yes , you just sell it with sitting tenants , it's done all the time !!
2007-06-03 05:05:09 · answer #6 · answered by nicemanvery 7 · 1⤊ 0⤋
um, sell it to your parents?
2007-06-03 07:52:07 · answer #7 · answered by beccap 2 · 0⤊ 0⤋