Landlord Sales Agency operates a model for property sales where the seller agrees to a specific amount they wish to receive. The equity exceeding this agreed figure is then utilised by the agency to manage the sale process, including finding buyers, resolving tenant issues, and covering various costs that would typically fall to the landlord.
This approach means sellers may accept less than the full vacant-possession value of their property. For example, one Manchester landlord reportedly accepted £115,000 for a property with an estimated open-market value of £130,000. The sale was completed in 64 days, with the property vacant for only two weeks.
The agency suggests that while this might appear to be a reduction in equity on paper, it could result in a similar or greater amount of money in the bank after accounting for conventional sale costs, such as agency fees, legal expenses, and potential lost rent from an empty property.
Landlord Sales Agency states that many of their clients are experienced property investors who return for repeat business, indicating they find the trade-off worthwhile. The agency handles various complexities, including sales with tenants in situ, resolving survey problems, and mediating disputes.