Vesta Property | Seller Guide

Owners guide to selling with Vesta

Find out everything you need to know once you’ve instructed Vesta.

How will this be different from selling my own home?

We're making selling your buy-to-let with as smooth as possible from listing to sale, but to do so we'll need a little more information about the property than you’d provide if selling your own home. 

This information might not be to hand instantly but it's important you provide us with as much as possible, which will allow us to market your property in the best light. 

Unlike selling to owner occupiers this won't just be location and images but also include tenancy contracts and financial information to prove why it's a sound investment for the next investor.

Alongside the normal property and compliance information we’ll also ask for;

  1. Tenancy and financial information 
  2. Tenancy contacts e.g. AST 
  3. Access and viewing arrangements 
How important is gaining access and will people want to view the property? 

If you would like us to organise the marketing information (e.g. photos),  we will need access early in the process to do so. Otherwise most investors will look at the financial return first and foremost and may make an offer without viewing the property but we find at some point during the process potential owners like to see it in person. 

Organising access with tenants at home differs to selling your own home because arranging access with multiple parties involved can take longer. We’re well versed in doing this and informing us of everyone involved up front really helps everything run smoother. 

Keep in mind the fastest and most efficient way we can arrange access is directly with the tenant, explaining this to them upfront and them consenting to us contact them will cut down on the hassle later. The more people involved in the process the longer it generally takes to arrange access. 

To help you explain this to the tenant we also have a guide outlining what they should expect.

Here's everything that's going to happen next

Once you have signed terms, we begin preparing your property for sale!

1

Collect information and agree access arrangements

We are going to need your help with:

  • Completing our detailed property questionnaire - this collects vital information such as tenure, profile, features, documents, key contact details (incl. the key holders), managing information, tenancy and tenant details.
  • Collecting documentation related to the rental of the property e.g. compliance certificates and tenancy agreements. 
  • Access arrangements - this allows us to visit your property to create a marketing pack that includes photos, floorplans, EPCs and all the things that we’ll need to advertise your property.

This is an important bit.  The more information you can provide, the stronger your property will appear to potential investors. 

Experience tells us there’s a buyer for every property which we need to help the buyer find it with our detailed approach to property presentation. 

2

Market the investment property listing

Once we’ve got everything it’s down to us, we’ll create the perfect listing and market it to our investors.

This will begin with our dedicated on-boarding team preparing and collating all of the information that you have provided. We will position your property for the market along with financial analysis tailored to the property. 

Our experience tells us that property listings that have complete documentation such as tenancy agreements, inventory, rent schedule and proof of payment available - sell quicker!

Once listed we’ll send it to you for approval before marketing it across all our channels which includes presenting your property to investors in a range of ways from email and digital marketing, investor trade shows, trade publications, property publications and our institutional investor network.

3

Promoting listing and vetting buyers

Once we’ve started promoting your listing and receive enquiries our specialist sales team will qualify buyers positions, ability and readiness to transact ensuring your listing is promoted to the potential buyer in the most suitable way. 

This process includes us providing detailed financial summaries that promote the income and capital appreciation of your property tailored to the buyer and ensuring they’ve got the right advice from one of our trusted experts as needed. 

Experience tells us that making the effort up front and doing valuable due diligence, prevents time wasters ensuring only qualified buyers that understand the investment disruption the tenants with a viewing.

4

Viewings

Once we have vetted potential buyers inevitably some people will wish to see the property. We will work with you, your tenants and managing agent to facilitate a convenient time keeping everyone in the process up to date. 

It goes without saying, it is important that you present your property in the best light, so having the tenant on side will ensure a better buyer experience, and likely sale. 

To help get the tenants on board we have created detailed information to help them feel comfortable with our approach, you can check this out here. We have worked hard to streamline this experience for everyone, including the new prospective landlord! 

If you would prefer not to deal with viewings, we partner with reputable suppliers as an additional service. Of course, you can manage this yourself if you would prefer.

5

Getting you a sale...

When a buyer makes an offer, we’ll ensure that the necessary due diligence has been done and we will pass it on to you with our recommendations. 

Hopefully the offer will be acceptable and our deal progression experts will handle everything from here. 

Note: we charge £900 to the buyer before we allow the memorandum of sale to be released. Experience tells us that having a financial commitment up front increases the likelihood of a sale completing and reducing the risk of fall throughs.

We’ve sold over £23 million of property since our launch in 2018 and have a pipeline of 4000+ properties

We are in daily contact with landlords and investors looking to buy more investment property.

It is important that everyone understands what happens

Worried about your tenant?

At Vesta Property, we have worked really hard to remove all of the friction from the sales process, including when selling with a tenant in situ.

Some agents will recommend that you evict your tenant or tell you that it is not legally possible!

We have put together a hints and tips guide for tenants so that they understand what their role is in selling your property.

Have any questions?

Our team is on hand to answer any questions

Or you can fill in our simple contact us form and one of the team will be in touch

Prefer to speak to one of the team? Give us a call any time.

Drop us an email if have more questions about selling your property or the sales process?

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2019 Vesta Global Limited. All rights reserved.