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Can you sell house with tenants?
trickyricky_2
Posts: 183 Forumite
Hi there wondered if anyone knew about selling house with tenants in ,is it possible if we reduced the value of the house?the rent is being paid fine BUT they are family members who we no longer get on with but we like them to be able to stay in the house as that was the reason for buying it in the first place,we just don't want the ties to them anymore! please help!!! 
:T I love the cake :T
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Comments
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Houses with tenants are sold all the time. The value of the property is affected and you would need to get proper valuations done The type of tenancy agreement will also affect the price, assured shorthold tenancy agreements are not a problem but older tenancy agreements give the tenant much more rights and can affect the value.0
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thats part of the problem we have no tenancy agreement as they are family but its a good rent that is always paid as its done direct from LHA (local housing authority) ! :rolleyes: :rolleyes::T I love the cake :T0
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You really need professional advice on this. Personally I wouldn't buy a tenanted property without an agreement in place. If they chose to stop paying the rent or they were no longer entitled to housing benefit then the landlord would be up the creek without a paddle.
Have you considered paying an agent to look after the property, then you would not have any contact with the tenant?0 -
thats seems a good idea does anyone know roughly how much agents charge?:T I love the cake :T0
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Charges vary from agent to agent so you are really best advised to phone at least 3 to get their specific charges. A rough figure from what I have been quoted in the past is 15%.0
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