Selling your home to one of your nearest and dearest may seem like a good idea, but sometimes things can go (very) wrong.
Here’s a list of factors to consider before taking the plunge and selling to a loved one.
Selling privately
You may save on agency fees, but you might not get the best price for your home. This means you’ll have less to fund your next move or for a rainy day should you need it.
Tax implications
While it’s perfectly legal to sell your home to a loved one for just £1, this act of kindness comes with huge tax implications for both the seller and buyer.
Fall-out
With any property sale, things can go wrong. Add a personal relationship into the mix and the situation can get very uncomfortable.
For example, a property survey might turn up something unexpected and strain relations to breaking point.
Selling through an agent takes the emotional baggage out of the process.
If you’re looking to sell your property, contact us today.
