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Selling via Lease option
Sycorax
Posts: 99 Forumite
I have a leasehold (113 years remaining) apartment up for sale, no mortgage on it.. This apartment is a niche market , there is bouyant rental traffic for them, but selling can take a while. The property has been on the market since Jan, a few viewings but no bites as yet.
However, I was approached by some kind of property intermediary asking if I would be prepared to sell on a lease option (this bunch http://www.wholeworldofproperty.com/ ).
Taking aside the fact that the company look like rejects from 'The Apprentice' I was unfamilar with idea of a lease option so did some research.
For the life of me I can't see what the benefit would be of me selling under this arrangement. There's no mortage on the property, I could rent it myself over the winter and readvertise in the spring if I get no buyers this summer. My only concern is any capital gains issues if I can't sell the property within the next two and a half years.
So what, if anything, am I missing? Anyone have experience of selling a property via a lease option?
However, I was approached by some kind of property intermediary asking if I would be prepared to sell on a lease option (this bunch http://www.wholeworldofproperty.com/ ).
Taking aside the fact that the company look like rejects from 'The Apprentice' I was unfamilar with idea of a lease option so did some research.
For the life of me I can't see what the benefit would be of me selling under this arrangement. There's no mortage on the property, I could rent it myself over the winter and readvertise in the spring if I get no buyers this summer. My only concern is any capital gains issues if I can't sell the property within the next two and a half years.
So what, if anything, am I missing? Anyone have experience of selling a property via a lease option?
'I think that God, in creating Man, somewhat overestimated his ability'..Oscar Wilde
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