There are a number of key reasons why you should consider selling your buy to let property with the tenants in situ, the key one being that you have the opportunity to generate rental income right up to completion. You also avoid additional monthly expenses including utility bills and council tax, all of which are payable on a vacant property. Assuming that the average sale takes 4.2 months (Source: The Advisory ‘Time To Sell’ Study), it’s easy to see how these costs can easily start to add up.
It’s also worth noting that on average 20-30% of property sales fall through, indeed over 300,000 property sales failed to complete in 2020. This often leads to the property being remarketed, adding an additional void period to the overall costs, all of this whilst your mortgage repayments are still payable.