Selling a Mixed-Use Property
Mixed-use properties are found across the UK and combine commercial and residential units, and there can be some extra steps to take when trying to sell this type of property.
Your top questions when selling a mixed-use property
✅ What is the general definition of a mixed-use property?
A mixed-use property is a building that has several units which can be used for more than one purpose, such as office space above a commercial shop or a retail unit underneath residential flats. There are no restrictions on how many different units a mixed-use property must have, but to qualify for the definition, as the name implies, it has to have more than one use.
✅ Why might buyers be interested in a mixed-use property?
A primary reason why someone could have an interest in making an offer on your mixed-use property is that they see it as a way to make extra money. If they owned the building then they would be able to rent out the units in the property in exchange for monthly payments from the tenants, and in some areas where demand for property is high this can be very lucrative.
✅ Are there any factors that make it harder to sell a mixed-use property?
Yes, there are a few reasons that can complicate the sale of your mixed-use property, with location being one of these factors – if the property is located in a low-demand area then buyers might be concerned that it will be harder to attract tenants for the units, and this could make them lose interest in making an offer if their goal is making as much money as possible.
✅ Does Capital Gains Tax apply when selling a mixed-use property?
It’s possible, and if you are required to pay Capital Gains Tax then it will be based on how much profit, also known as the gain, that you make from the sale of your property. Make sure you consult with a tax professional before making final decisions when selling your mixed-use property.
✅ What's the best way to avoid paying fees when selling my mixed-use property?
Get in touch with LDN Properties or another zero-commission quick property buying company because they will never make you pay fees when selling your mixed-use property. However, if you sell through an estate agent or at an auction, you will be charged commission that will add to your selling expenses because this fee will be deducted out of the final sale proceeds.
✅ How do I know that I can trust the sale of my mixed-use property to a quick buyer?
You should ask individual quick buyers if they are registered with The Property Ombudsman (TPO), which writes rules to protect owners from scams in the industry. All TPO members must follow these regulations, which should give you extra peace of mind when selling. Be careful of selling to a company that can’t prove it belongs to TPO.
✅ What is the fastest method available for selling a mixed-use property?
Selling to a quick property buyer like LDN Properties is often the swiftest choice, because these companies can generally finalise the purchase of almost any type of property within a handful of weeks, and this includes paying you the proceeds and exchanging contracts. Selling at an auction, with an estate agent or on your own can all take at least many months.
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