Buying a house with tenents living in there

neverdespairgirl

PasturesNew wrote: »

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Might even get the mortgage pulled/withdrawn if the mortgage company found out, if there turned out to be a problem.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 ... !!!!!!.

You can, but it's a difficult situation and not wise to enter into unless you know what you're doing legally AND you're in no rush to move there. Not recommended.

BitterAndTwisted

sumxixi wrote: »

The tenants know about the sale. However they don't want to move immediately. Looks like they would like to stick there...

Of course, and I don't blame them if they haven't got enough savings to move immediately. Even if the current landlord starts legal proceedings to regain possession it could take anything up to six months and meanwhile they could trash the place. This is a problem that no-one in their right mind would want to inherit without understanding the risks

sumxixi

cheers guys. Would the survayor need to look at an empty house or it doesn't matter whether the tenants living there or not?

Marvel1

Ther problem you have is once contracts are exchanged, the tenets are your problem not the seller's and the 2 months notice doesn't matter.

Marvel1

sumxixi wrote: »

The tenants know about the sale. However they don't want to move immediately. Looks like they would like to stick there...

In that case, look elsewhere.

Marvel1

sumxixi wrote: »

cheers guys. Would the survayor need to look at an empty house or it doesn't matter whether the tenants living there or not?

When I had my house, a tenant was living there, but they were out before I exchanged (it helped as I lived in the same street, so I knew).

When the valuation by the lender and my own full survey was done the tenant was there.

gordonc888

I'm really curious as to what attracted you to the property if it was in a messy condition with couldn't care less tenants during your viewing. Here we have sellers doing everything to make their property attractive and sellable when all we need to do is let some messy tenants stink up the place!

satchmeister

gordonc888 wrote: »

I'm really curious as to what attracted you to the property if it was in a messy condition with couldn't care less tenants during your viewing. Here we have sellers doing everything to make their property attractive and sellable when all we need to do is let some messy tenants stink up the place!

Not all tenants are an infestation or vermin problem.

With all property you need to look through what is there are see the potential, particularly the decor.

gordonc888

Yes well obvious the majority of tenants are not stinky vermin. I was just picking up from the OP and the subsequent impression that the tenants in this particular case may be more problematic and a hindrance to the sale of the property. That's all really.

bris

cjdavies wrote: »

Ther problem you have is once contracts are exchanged, the tenets are your problem not the seller's and the 2 months notice doesn't matter.

This is not true, if the house is bought subject to vacant posession then the seller would breach the contract by not having vacant posession and he is the one who would be footing the buyers costs.