Sell Property to Investor

missile

https://forums.moneysavingexpert.com/discussion/comment/82042022#Comment_82042022

https://forums.moneysavingexpert.com/discussion/comment/82042022#Comment_82042022

Forbes advisor are a trusted source of information. I quoted their research to disprove the claim that most small businesses do not have a website.

They were described as a private investor, not a company.

eddddy

@missile out of interest, what do you imagine the "investor" does with property? What is their business model? How do they make money? Why would they want to buy your house?

If an "investor" wants to buy a house, why wouldn't they look at estate agent's listings on Rightmove?

(And as an aside, if an investor wants to buy a house, why would they create a website? How would that help them buy a house? If you wanted to buy a house, would you create a website?)

missile

https://forums.moneysavingexpert.com/discussion/comment/82042310#Comment_82042310

One of my business interests is / or rather was to let properties. This property had been rented to same tenant for 25 years.

I was told this investor was interested in my property, with a view to refurbishing it and letting it out again. Clearly I was mislead. Others have said this is just business. I have found it is best to be honest, perhaps I am naive.

"If an "investor" wants to buy a house, why wouldn't they look at estate agent's listings on Rightmove?" I don't want to debate the advantages of selling / buying direct, there are agents who specialise in this niche market.

eddddy

missile said

I was told this investor was interested in my property, with a view to refurbishing it and letting it out again. Clearly I was mislead.

Out of interest, who told you that? A trusted friend who knows about property? A stranger on the internet?

There are a lot of "time wasters" about, with unrealistic dreams about how they can get rich by buying cheap property, etc.

I think your best bet is to go with a reputable local estate agent.

If nothing else, an estate agent will have come across many "time wasters" before, and know to avoid them.

And an estate agent should also do a financial appraisal of the buyer (i.e. check bank statements, mortgage agreement in principle, etc), to further reduce the risk of "time wasters".

sherlock228

https://forums.moneysavingexpert.com/discussion/comment/82042293#Comment_82042293

it means a company that is not (yet) trading (or is doremant). Incorporation date and director's report would help you understand.

theartfullodger

"Investor" just means someone who hopes and often does get a better deal than other buyers.

missile

https://forums.moneysavingexpert.com/discussion/comment/82042415#Comment_82042415

To me; It means this is a company with Limited liability and if there is an issue I cannot claim against his assets.

missile

https://forums.moneysavingexpert.com/discussion/comment/82042495#Comment_82042495

An investor is an individual who puts money into an entity, such as a business, for a financial return.

By definition a limited company cannot be called an "investor". As I have said, I was misled into believing he was an individual who intended to renovate then let my ex rental property.

missile

"Out of interest, who told you that?" One of the property management companies I approached. PS: Those companies do have a website and assets.

user1977

https://forums.moneysavingexpert.com/discussion/comment/82042514#Comment_82042514

True, but there's nothing stopping you from asking for the missives to be in the individual's name (with him taking title in the company's name if he wants).

Though bear in mind claims for breach of contract are very rare anyway given the tendency these days is for nobody to conclude missives until they're all certain they are ready to complete. Which is where you are at the moment.