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Repossessed Auction Property Tenant Not Paying
Comments
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The tenant has an AST and has been there about 3 years I think
Like Silvercar, I have come across posts where a buyer has been informed that the tenant has no security of tenure, only to find that they are stuck with them until the tenant dies. I've even come across a thread where the buyer was given fake documents on the status of the tenant. It is imperative that you determine what kind of tenancy they have which will determine the eviction path you need to take.
And you may wish to consider compensating the tenant if they agree to surrender their tenancy (in writing) swiftly rather than going through a long legal process that could be more expensive for you.0 -
By the way, what happened with the tenant's deposit as if their tenancy is 3+ years old, it may have been taken before the tenancy deposit scheme was introduced?
What's the legal process for taking over the tenancy as a landlord? I believe that the tenant is sent some kind of document to advise them of this.0 -
Yes we honestly want to move into the property we are first time buyers not buy to let landlords
Clutton - I asked the solicitors to look through all the documents before the auction everything is in order and I bought the property at well bellow market value (probably partly due to the fact there was a tenant in there).
The deposit is safe and will be transferred to us on completion and I probably think that making some kind of deal may be our best option?0 -
Are you a cash buyer? or are you getting a mortgage?
I am just wondering how you are going to get access for the lender to do a valuation and how you will get the vacant possession on completion that will be required for a mortgage that is not designed for letting.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
many lenders are getting increasingly suspicious of properties bought "below market value" - you may find that your lender wants to make you jump thru lots of hoops - and bearing in mind that you may only have 28 days to complete - i would do everything by FAX if at all possible0
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