Selling a Bed and Breakfast

If you own a bed and breakfast property there are certain questions people have when looking to sell.

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Your top questions when selling a bed and breakfast

✅ What type of property in the UK qualifies as a bed and breakfast?

This will typically a freehold or leasehold house in which several bedrooms are provided to visiting guests to stay in on a per-night basis for a fee. As the name implies, breakfast is usually provided at these establishments. They are relatively small and have few amenities, compared to hotels that might have hundreds of rooms, a swimming pool, several bars, and more.

✅ What is the swiftest way to find a buyer for my bed and breakfast?

Contact a quick home buyer like LDN Properties, because they have the ability to complete the purchase of many different types of properties within just a handful of weeks. Selling on your own, by contrast, might take more than a full year. When using an estate agent or auctioneer to sell your bed and breakfast, you can expect the process to take at least many months.

✅ How much commission can I expect to pay for selling my bed and breakfast?

If you sell to a legitimate fast property buying company, you will not have to pay any fees, and you’ll get to maximise your sale profit. The same is true when selling on your own, but that’s a very stressful and time-consuming process. Auctioneers and estate agents charge commission as a percentage of your property’s sale price.

✅ What Capital Gains Tax will I have to pay for the sale of my bed and breakfast?

It depends on the price at which your bed and breakfast sells, because Capital Gains Tax only applies to the profit, or gain, that you make on an asset like a home compared to the original price that you paid for it. Be sure to obtain professional tax advice when the time comes.

✅ How can I be confident in trusting a fast buyer when selling my bed and breakfast?

Ask specific quick home buyers whether they are full members of an independent organisation called The Property Ombudsman (TPO), which writes policies to shield homeowners from falling for scams in the speedy buying industry. If a company can’t prove it belongs to this organisation, or refuses to join, you should be wary of selling to them.

✅ Is there any way to independently verify if a fast buyer belongs to TPO?

Yes, just visit TPO’s website and then click on the "Find a Member" tab located on the left side of the welcome page. You’ll be asked to type in the name of a specific quick home buyer, after which the site will show you the company’s membership details if they are truly registered with TPO. If a company does not belong to TPO, the website will not show you any results.

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"Successfully sold two properties direct to LDN Properties in the last two years. Genuine and trustworthy people and the dealings were straightforward."Thomas from London

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