Selling a Billboard
If you own a billboard you might be uncertain about how to proceed with selling the property. Here are some of the steps you can take to hopefully get a speedy and competitive offer.
Your top questions when selling a billboard
✅ What type of property is a billboard space?
Billboard spaces are parts of a property where companies can place large advertisements to promote their services or goods, and some examples include the side of buildings or on empty plots of land. Billboard spaces can be either freehold or leasehold properties, and they are generally classified as commercial property because they’re used to promote businesses.
✅ What are the top factors buyers will consider for my billboard space?
Potential buyers of billboard spaces may be hoping to own the property and generate consistent income by renting the space out to companies to place their advertisements. Key factors that buyers will look at when assessing your billboard space include its location – with a preference for properties in more-populated areas – along with its condition and other issues.
✅ Will Capital Gains Tax be charged on the sale of my billboard space?
It is possible, because Capital Gains Tax is a levy that the UK government imposes on the profit that someone makes when they sell a tangible asset, such as property or cars. The tax won’t typically apply to the billboard space sale price and instead will be assessed on the amount of profit that you have made compared to whatever price that you originally paid for the property. Make sure you speak with a tax professional for further advice and information.
✅ What options do I have to find a buyer for my billboard property?
You have four primary options – selling with the help of an estate agent, trying a property auction, selling on your own, or selling to a quick property buyer. There are specific benefits associated with each of these choices whilst some options also have major downsides. You should closely review the four methods to find the one that best meets your specific needs.
✅ Does every option for selling my billboard space require that I pay fees?
No. If you choose to sell your billboard space to a legitimate quick buyer like LDN Properties or without any third party assistance, then you won’t pay any fees for the sale. But estate agents and auctioneers will charge you commission as a percentage of the billboard space’s sale price.
✅ What is the best choice for selling my billboard space as fast as possible?
You should consider contacting a quick property buyer because these companies are able to finalise the purchase of any billboard space or other type of property in just a handful of weeks, and that includes the time that it takes for exchanging contracts and paying you the proceeds. This can be the swiftest schedule because other methods of selling can all take at least many months.
✅ How can I tell whether a quick property buyer is considered legitimate?
Honest quick buyers, such as LDN Properties, are members of an independent organisation called The Property Ombudsman (TPO), which publishes policies that all members must follow and which guard property owners against falling victim to fraud in the quick buying industry. Ask companies if they belong to TPO, and be careful selling to any that cannot prove their membership.
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