selling a house with a tenant in it.

jo_mulkerrin

Hi, we are putting our house on the market this month, and have a tenant with a years contract until end of October. He's been a good tenant, and we would like to honour his contract, but what can we do if we get a good buyer prior to then? We need to sell the house as we are renting up in Scotland and want to buy a house up here. Any ideas? Thanks

Old_Git

what are the chances off getting a buyer that is able to get the finances in place and all the legal work done before October .(these things take ages to sort )
As for the tenant ,have you told then your plans .
They dont have to let anyone view the property .
If you do get a buyer before October ,you can offer the tenant cash to move early but they dont have to .They have a contract to protect them.

RacyRed

jo_mulkerrin wrote: »

Hi, we are putting our house on the market this month, and have a tenant with a years contract until end of October. He's been a good tenant, and we would like to honour his contract, but what can we do if we get a good buyer prior to then? We need to sell the house as we are renting up in Scotland and want to buy a house up here. Any ideas? Thanks

Discuss it with your tenant first, you never know, he might want to buy it

bryanb

Get on good terms with the tenant, they don't even have to let someone in to prepare a HIP, which would prevent you marketing it.

SmlSave

Hi jo, you could always sell with tenant in situ, as long as the buyers know before they view the proeprty then they shouldn't have a problem

Wee_Willy_Harris

If you get a good buyer prior to then? There is nothing you can do to remove the tenant before the end of the agreement UNLESS either they agree to it, or they break the term of the tenancy to such an extent that a S8 notice can be served. They have a binding tenancy contract to which all parties (ibncluding yourself) agreed. That your housing circs have changed is of no concern to your tenant.

However, there are things you can do to mitigate.

Firstly, correctly serve a S21 NTQ NOW! Obviously, it cannot expire before the end of the tenancy but serving early and giving maximum notice will do a number of things...

It will clearly signal your intentions to the tenant.

It will give your tenant plenty of notice that they need to find alternative accommodation.

It will demonstrate to any prospective buyer that steps are being taken to secure vacant posession.

Of course, another thing for you to consider in the current housing market is that your tenant may leave at the end of the tenancy (or before) and the propery remain unsold for a period of time. But I guess that's the chance you take. I assume that if he told you HE wanted to leave now, you would agree?

I would also discuss your intentions with the tenant so that a workable agreement is more likely with regard to HIP,viewings etc.

puddy

yes, it would probably also pee the tenant off and make them less likely to want to admit people to the property for viewing or making the HIP, therefore she wouldnt even be able to put the hosue on the market

RedSoleShoes

jo_mulkerrin wrote: »

Hi, we are putting our house on the market this month, and have a tenant with a years contract until end of October.

Check your contract, you probably have a 6-month break clause in it. Most of them do.

adg1

LilyDeTilly wrote: »

Check your contract, you probably have a 6-month break clause in it. Most of them do.

Not so. Many don't.

You need your tenant on side to allow viewings etc or you will seriously struggle to sell.

I would make sure it is advertised heavily to investment landlords, especially if the tenant is paying a good level of rent.

Wee_Willy_Harris

jenner wrote: »

yes, it would probably also pee the tenant off and make them less likely to want to admit people to the property for viewing or making the HIP, therefore she wouldnt even be able to put the hosue on the market

Why would giving the tenant as much notice as possible and discussing the issue so that a mutual agreement can be reached be such a bad thing?

KrazyFool

i wouldnt be good at a landlord as that would seriously pee me off. Giving plenty of notice and im sorry personal reasons have caused me to sell but tenant can say no to viewings.

at what point can you serve the if they miss rent, 1mnth, 2mnth?..

Say they miss rent and that causes issue with the mortgage so you may want them out but they cant be forced out which leads to rent/mortgage not being paid thus forcing sale