Tenants

Werdnal

Now you have told us the full story all I can say is DON'T DO IT!

Why do you think it has gone to auction? - because it won't sell any other way with sitting tenants, OR because owner has let the place get so run down and not kept up with their repair obligations as a LL, they have to sell with tenants in place because they are bound by the tenancy agreement. Tenants will then no doubt want the new owner to fulfill all the repairs neglected by their previous LL and enjoy all the benefits of their secure tenancy into 2012! Or what if they are the tenants from H3ll, so LL has decided to pass them on to a poor unsuspecting auction buyer who thinks its a quick way to make money!

I thought from your OP you were looking for a cheap home for yourself, not a money making opportunity. Not a good time to make money on property anyway, and with sitting tenants who you do not know, have no control over what agreement they have already governing their tenancy, or it seems, very little idea of what is involved in taking on a tenanted property, I would run in the opposite direction pretty sharpish!!!!!!

mrtazz

thanks for all the advice. im going to give it a miss as its not going to work out and end up loosing loads of money.

GDB2222

In that case, care to link to the property you had in mind?