Great opportunity

suemoo

Thanks to everyone for advice! We've just been to see it and it is fantastic - but huge and I think it terrified my husband. As far as our rented house goes, we probably wouldn't want to sell it, just use a bit of the equity - which'd be about thirty grand. And yes, we would have to sell our home and live in the new place while we did something with it -whether that be convert it into residential flats or turn it into a B & B or whatever. And it is a mess! As far as valuations go I know already that the house would be worth a lot - it's in a big plot and only round the corner from where we live now - a place where houses do tend to hold their price. What I really think is that this is going to be a massive bargain for somebody but I'm not sure we've got the resources - or the bottle - to go for it! Especially as we'd have to submit a tender in two days. Scary!

clutton_2

i have come across many old peoples homes which are sold off for housing these days. The older style local authority built properties simply dont have the facilities that newer homes offer, and which folks require these days - so local authorities are often keen to make money on land-sales, rather than re-developing OAP homes. They seem to prefer to let private companies build and run OAP homes.

poopscoop

clutton wrote:

"""You can give them 2 months notice if AST or AT"" -

This is slightly more complex than you make it sound. An AST is an agreement for the landlord to let, and the tenant to pay for, a property for the full PERIOD as laid down in the agreement.

So, you can only give 2 months notice to coincide with the end date of the AST - so if tenants sign on January 1st for 6 months - you can only give them notice on May 1st for 2 months taking you up to June 31st. Tenants need only give one months notice on first of June.

This "tenancy end" date can be renegotiated by mutual agreement, but, this does not negate the legally binding nature of the Agreement both signed.

Even at the end of the 6 months, (if notice has been served on May 1st) a tenant may choose to not move out. It can then take several months to get them out.

Re OAP home - you have not said what you would want to do with it - knock it down and build flats ? Re-develope it into flats ?

i agree, that 2 days is WAY too short a time to research this. There will be others. Do all the research you can on this, and it will be a great learning curve for you for the next one. Such a project (if you are planning to knock down and redevelope) as this involves a VAST amount of knowledge, research, time and money - but - all this newly acquired info will be extremely valuable when the next one comes along - as it will. Best wishes

yeah, sorry I should've elaborated further. It's usually easy for me because it's usually 6 month agreements and time flies