For sale subject to regulated tenancy.

enjoyinglife

A house in my area caught my eye because it seemed cheap, I then realised why.
Never heard of a regulated tenancy until now.
Prospective buyers should be aware that this property is being sold subject to the residing tenants remaining in occupation, therefore vacant possession is not available on completion. We are advised by the seller that the tenants have lived in the property for over 40 years and there is no record of a tenancy agreement. We are also advised the current rent is £380 pcm. For further information, please contact the office.
The house is priced at £190,000 and approx 50k under market valve and is a 3 bed semi, good deal for the sellers if they get anywhere near the asking price and then rent it back for 380pcm.

Yorkie1

But the sellers aren't the people who are remaining in residence. The tenants, whose home it's been for 40+ years, are the people remaining in residence.

PasturesNew

It's overpriced then. Any house with that is usually closer to half open market value.

As has been said - the sellers are the current landlord/owner. The tenants are renting it from him.... and have rights to do so until they die - and maybe it can become part of their inheritance and their kids/grandkids will move in also on the cheap rent deal.

neverdespairgirl

the sellers and the residents are two separate lots of people.

OH and his brother inherited half such a house between them in north London. Originally, OH's grandparents and some friends bought it in the 1960s, and rented it out.

They sold it in August 2007, to an investor specialising in such things - and as the craziness was on-going in the property market at that time, sold it for 20% less than the value on the open market, with no tenancy.

In sane times, the discount's much higher, as PN says.

Running_Horse

Do you really want to spend the next 20 years hoping for someone else to die, so you can make a profit?