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Would You Sell To A Btl?

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Just had a thought the other day. If you were wanting to sell (all hypothetically!) in order to buy a new place and the only person that was interested was a BTL scumlord, would you sell it to this person (knowing our moral stance here!)...?

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Just had a thought the other day. If you were wanting to sell (all hypothetically!) in order to buy a new place and the only person that was interested was a BTL scumlord, would you sell it to this person (knowing our moral stance here!)...?

How would you know.......next door sold, the buyer said it was for their son, as it turned out not for their son to live in. ;)

Edited by winkie

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Last year I was under a bit of pressure to sell up because of the uncertain job situation. Back then I couldn't care less if it was an FTB or a BTL'er so long as I got a reasonable price for it.

The chap who eventually bought it did so with the intention of renting it out (or so the EA said). He is serving in the forces so I wonder if he is renting it out (I haven't seen it advertised for rent) or using it as a bolt hole when on leave. He bought it with a c. 50 % mortgage so it was a safe investment/home for him whatever he decided to do with it. :)

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Yes, did it.

I inherited my Mum's home, which I was also living in, and we were a mile away from Swansea Uni. We lived in a beautiful Edwardian terrace area with big, tall Edwardian terraces.

But on one side of us we had a student HMO owned by a posh speaking banker from London and his blonde California wife. On the other side was another HMO owned by a Indian born shop-keeper who was filling it with DHSS types. Both had bought the houses from the descendents of the eldery ladies who had lived and died in them.

The HMOs on either side made our lives hell, put us through terrible stress with numerous callings of the Police. We never knew when blaring music would start so were constantly on edge, there would be fights between the tennants with people throwing themselves against the internal walls and, well, I could spend the next few hours writing about it.

When my Mum died, after years of trying to get her to move, I knew that no family would want to buy it. I sold it to a BTL landlord who has done very well out of it due to the ultra low interest rates.

Living there was killing me.

My nice neighbours, 2 doors down, spent the next 2 years trying to sell to a family and failed. Eventually they found another Indian shop-owner who claimed that he was going to move his family in. The same day they exchanged contracts he put an HMO application into the Council.

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Just had a thought the other day. If you were wanting to sell (all hypothetically!) in order to buy a new place and the only person that was interested was a BTL scumlord, would you sell it to this person (knowing our moral stance here!)...?

Yes. Then I wouldn't feel guilty about them paying too much for the property.

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I'd like to think I wouldn't sell to a slumlord, however not many normal ppl are buying.

I've recently got a house, the neighbours were all having kittens thinking they're going to have a BTL house on the street. They were all pretty thankful when I said I'm going to actually live there myself.

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If I believed house prices were going to fall by more than 15% and I disliked BTL landlords surely selling to a buy to landlord would be the goal.

As whoever buys would be making a very poor financial decision

I think the only reason not to would be if I actually did not believe house prices would fall

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YES

Have sold and moved a few times in my life , the goal is to sell the place im in get the money and move on. Me refusing an offer to a BTL is not going to change anything in the scheme of things but just stop me doing what I want to do. When I have sold on a property the new owner and their life has no interest for me , all I want is an exchange of contracts as you have nothing without the exchange.

Edited by miko

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Just had a thought the other day. If you were wanting to sell (all hypothetically!) in order to buy a new place and the only person that was interested was a BTL scumlord, would you sell it to this person (knowing our moral stance here!)...?

If i got a good price i would , if it was a bargain then nope.

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Yes and have.

I do know that when I sold my last place the flat was structurally sound and all services were in perfect working order, basically after buying it I gutted the whole place new electrics, new boiler, double glazing followed by complete redecoration.

This means for a change a tenant might actually get a place to live that hasn't got any nasty surprises.

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Just had a thought the other day. If you were wanting to sell (all hypothetically!) in order to buy a new place and the only person that was interested was a BTL scumlord, would you sell it to this person (knowing our moral stance here!)...?

What ?. . . . . . before the price correction and long overdue IR rises.....?

Of course I would ! B)

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not BTL - but sort of

http://www.thisisexeter.co.uk/news/Kirstie-s-plea-home-sales/article-849339-detail/article.html

PEOPLE should refuse to sell their house to second homeowners if they want village life to survive, says TV property expert Kirstie Allsopp.

The Broadhembury-based Location, Location, Location host insisted "communities have to save themselves" and not rely on Government to pass laws banning the spread of second homes.

Ms Allsopp, who owns two holiday homes in the Westcountry as well as a permanent property in London, said: "If you want to keep your community alive, it is your responsibility to do that. Parish councils up and down the country need to come up with clever and imaginative ideas for keeping communities alive, supporting local business and shops. I don't think you can legislate about these things."

Edited by SarahBell

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not BTL - but sort of

http://www.thisisexeter.co.uk/news/Kirstie-s-plea-home-sales/article-849339-detail/article.html

PEOPLE should refuse to sell their house to second homeowners if they want village life to survive, says TV property expert Kirstie Allsopp.

The Broadhembury-based Location, Location, Location host insisted "communities have to save themselves" and not rely on Government to pass laws banning the spread of second homes.

Ms Allsopp, who owns two holiday homes in the Westcountry as well as a permanent property in London, said: "If you want to keep your community alive, it is your responsibility to do that. Parish councils up and down the country need to come up with clever and imaginative ideas for keeping communities alive, supporting local business and shops. I don't think you can legislate about these things."

That woman should be tied to a stake and burnt slowly like a witch :lol:

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Just had a thought the other day. If you were wanting to sell (all hypothetically!) in order to buy a new place and the only person that was interested was a BTL scumlord, would you sell it to this person (knowing our moral stance here!)...?

Most people selling are surely after the best price with as little inconvenience possible? Surely most posters here would even sell to Gordon Brown, for the right price?

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not BTL - but sort of

http://www.thisisexeter.co.uk/news/Kirstie-s-plea-home-sales/article-849339-detail/article.html

PEOPLE should refuse to sell their house to second homeowners if they want village life to survive, says TV property expert Kirstie Allsopp.

The Broadhembury-based Location, Location, Location host insisted "communities have to save themselves" and not rely on Government to pass laws banning the spread of second homes.

Ms Allsopp, who owns two holiday homes in the Westcountry as well as a permanent property in London, said: "If you want to keep your community alive, it is your responsibility to do that. Parish councils up and down the country need to come up with clever and imaginative ideas for keeping communities alive, supporting local business and shops. I don't think you can legislate about these things."

I think K owns more than one London property. From The Times in 2008....

What property do you own?

After Battersea, there was a flat in Ladbroke Grove, west London, for which I paid about £80,000 in 1998. I never moved into it, I just developed it and sold it within three months for £115,000 because it didn’t have a garden and I got a dog. I bought another flat in W10 the same year for £189,000 and I would say that the flat is worth around £450,000. I rent it out.

I have another buy-to-let flat I bought for £325,000 and again it would be very difficult to say in today’s money what it’s worth. It is definitely a time to be buying things. I bought it a year ago and I am pretty confident that what I have done to it means that it’s worth more than I paid for it. That’s one that I will not be looking to sell in the foreseeable future.

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This sort of thing reminds me of Woody Allen, when asked if he had ever taken a serious political stance on an issue, replying: "I once refused to eat grapes for twenty four hours".

Money dictates its own rules. People who take "moral stances", forgoing money to which they are legally entitled, often regret them later in life, especially when they realise the accumulated money is going to go on to their own children (minus the ever compounding 'wodge' that they gave up for moral reasons). We follow God or Mammon. Until fully ready to go the whole hog on the barefoot, celibate saint thing, it's probably best not to mix the two things up.

but Karma will always follow us..

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If you agree to sell your house, in most cases you are surely happy with what price it is marketed. The most important point is to sell the bloody thing. It should not matter who buys it. Take the money and get on with your life.

You could ask the reverse question. Would you buy from a struggling BTL'er? Would that not be assisting someone you morally detest. Even if you were getting the property for half what he/she paid.

I sold my last house to an estate agent in August 2007 ;) She was unemployed 6 months later.

Live your life.

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Would I sell to a BTLer? Yes

Would I buy a BTL if I thought I'd make a lot of money from it? Yes

Do I think the government should interfere to make BTL less financially attractive? Yes. But until that moment happens I'm not going to compromise my family's well being by giving my potential wealth to someone else. Anyone who says they'd do any different is probably not telling the truth.

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I'm pretty much a total newbie on HPC, just discovered it a month or so ago so I wasn't really familiar with a lot of these debates but the question is an interesting one.

My partner and I sold a 2/3 bed ex-council maisonette last November after it had been on the market since May. Our general instinct was anti-BTL and we discussed this issue and agreed that we would prefer to sell to a family and were ready to make some financial sacrifice to allow that to happen. This was as much out of liking our neighbours and wanting the estate to keep its community as anything.

How big a sacrifice we would actually have been prepared to make? I don't know and we were never realistically in any kind of position to find out - in 6 months we had only 3 viewings (that I can remember now - it might have been 4) from potential owner-occupiers. All the others were a steady stream of BTL landlords - I think we must have seen about 20. In the end we sold to one of them, we almost had no choice.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
      • up 2.5%
      • up 5%



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