We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying a house with tenents living in there
sumxixi
Posts: 20 Forumite
Hi all,
I am planning to buy a house with tenants living in there. The estate agent said that they need to give 2 months notice for them to move out. However the agent and the landlord will only give 2 months notice after we exchange the contract and pay the deposit, just in case I pull out the deal and they could lose the tenents.
However the house is in a very messy condition and I am looking for a surveyor to do an Independent Home Buyer's Survey and it would be easier if there's no tenants living there.
The agent and the landlord said in this case the surveyor has to do it with tenants in there. Also they can still earn 2 more months rents after I pay them, is this how it works when people buy houses with tenants living there?
What if the tenents won't leave after 2 months, do I have to get a court order to get them out?
Thanks very much for your time in advance.
I am planning to buy a house with tenants living in there. The estate agent said that they need to give 2 months notice for them to move out. However the agent and the landlord will only give 2 months notice after we exchange the contract and pay the deposit, just in case I pull out the deal and they could lose the tenents.
However the house is in a very messy condition and I am looking for a surveyor to do an Independent Home Buyer's Survey and it would be easier if there's no tenants living there.
The agent and the landlord said in this case the surveyor has to do it with tenants in there. Also they can still earn 2 more months rents after I pay them, is this how it works when people buy houses with tenants living there?
What if the tenents won't leave after 2 months, do I have to get a court order to get them out?
Thanks very much for your time in advance.
0
Comments
-
So you exchange and commit to the purchase and the tenants won't leave. Your BIG problem not the sellers. I am sure your solicitor will advise you not to exchange if tenants are there. Plus wrecked property (potentially) six months after you bought it and have paid the mortgage for six months.Hi all,
I am planning to buy a house with tenants living in there. The estate agent said that they need to give 2 months notice for them to move out. However the agent and the landlord will only give 2 months notice after we exchange the contract and pay the deposit, just in case I pull out the deal and they could lose the tenents.
However the house is in a very messy condition and I am looking for a surveyor to do an Independent Home Buyer's Survey and it would be easier if there's no tenants living there.
The agent and the landlord said in this case the surveyor has to do it with tenants in there. Also they can still earn 2 more months rents after I pay them, is this how it works when people buy houses with tenants living there?
What if the tenents won't leave after 2 months, do I have to get a court order to get them out?
Thanks very much for your time in advance.
They either want to rent or sell not both.0 -
Your solicitor will advise you not to exchange until there is vacant possession. The landlord/agent are fantasising that you will accept all the risk instead of them.
Look for another property that has a seller who is serious about being in a position to proceed with the sale.0 -
DO NOT offer to buy any property with tenants in situ unless you are a landlord buying it as an investment.
If you need a mortgage your lender will not forward any funds until and unless you can buy it with vacant possession. Getting the tenants out is the current owner's problem. Once they are out you will know exactly what needs to be spent on it to get it into an adequate condition. Disgruntled tenant who are being evicted can and do cause the most horrendous damage. The current owner wants his cake and eat it if they won't go through the process of gaining possession before offering for sale.0 -
thanks all for your advice.0
-
Jeez.
Walk away. If they are professional tenants then this will end in tears.Everyone is entitled to my opinion!0 -
If they are, it sounds like their landlord might deserve them!0
-
You cannot do it. The tenants have to have left before you exchange - your solicitor will check this and your mortgage company will be expecting it.
You'd be in a whole HEAP of !!!!!! if they have not left before you exchange.
WHOLE HEAP of !!!!!!.
Might even get the mortgage pulled/withdrawn if the mortgage company found out, if there turned out to be a problem.
WHOLE ... HEAP.... of ... !!!!!!.0 -
Our landlord informed us that they were selling but that they would love for us to stay on until exchange of contracts - no doubt they would but who wants that hanging over them so we gave notice the next day. Do the tenants know the house is being sold?0
-
Our landlord informed us that they were selling but that they would love for us to stay on until exchange of contracts - no doubt they would but who wants that hanging over them so we gave notice the next day. Do the tenants know the house is being sold?
The tenants know about the sale. However they don't want to move immediately. Looks like they would like to stick there...0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards