Court order to force house sale query

jonesMUFCforever

Who would rent a property knowing they will not get an assured tenancy?

ivebeenknocked

I know a couple of people who rent a property and they don't know or care if they have an assured agreement, they have always paid on time and have lived in their property for years.
I was just curious because if the judge gave you a possession on Monday, you wouldn't expect to sell the property by Thursday so I was just wondering if there was a time limit to sell the property?

jonesMUFCforever

I agree but having tenants could also delay any potential sale.
It works both ways.

ivebeenknocked

Ok, but my question is this. I can (if I want to) hold onto the property for as long as the monthly mortgage is paid. For example, if the debt was 10 grand but after you sold the property, it worked out that you'd be left with 7 grand. Wouldn't it make sense to keep the property, rent it out instead until you made up the shortfall through the rent received and then try and sell the property afterwards?

wifeneedsthings

ivebeenknocked wrote: »

Ok, but my question is this. I can (if I want to) hold onto the property for as long as the monthly mortgage is paid. For example, if the debt was 10 grand but after you sold the property, it worked out that you'd be left with 7 grand. Wouldn't it make sense to keep the property, rent it out instead until you made up the shortfall through the rent received and then try and sell the property afterwards?

Hi ivebeenknocked
I have just read all your posts and I have the deepest sympathy for you, it makes you so angry when your generosity is thrown back in your face and you are deemed to be the bad person when you fight for your money back.
We too are owed £39k, which we lent to my nephew and his wife as a deposit for their 1st home. When they wanted the money,they were full of promises that they will pay us back, but to protect ourselves,we drew up a deed of Trust and are tenants in common on the land registry.
Brilliant ,you think...all legal and protected.
Yeah..if the Solicitor drew up the deed properly.As we later found out in court ,it was unenforceable as there were no clauses to allow for my nephews massive mortgage arrears.The Judge was powerless to do anything.
5 years ago ,his mortgage was £126k and five years later his repayment mortgage is £133k...go figure !! and he is in arrears again.
We found out ..thanks to facebook..they have had a lovely time,going on holidays each year ,going on to have more children..but pleading poverty to our solicitor and the Judge!!...and he even bought his wife a new car...after the judgement was made to repay us.
After 3 stressful hearings,Court trial, and the final hearing which took 2 years in all and cost us a massive bill from our solicitor,we finally got the judgement that if the £39k was not paid back after 2 years by 11th July 2013,we can order the sale of the house.The house has now de-valued to £149k,but what infuriates me is that out of the sale of the house the mortgage and his arrears gets paid off and solicitors and estate agents fees also come out of our money...Not Fair !!!
I saw that you wanted to rent it out ,how did you get on ?
I don't want them to live in it anymore ,and want it sold.
They even had the cheek to go to CAB and ask for the Mortgage Rescue scheme to buy the house so that they can still live in the house but pay rent to a housing association...but they will only pay £130k for it...rip off as that isn't even enough to pay there mortgage off..and that would be all our money gone !!...but as long as their alright !!
The stress has been terrible and it has split our family as it is my sisters son...and to make matters worse ..she's moved in with them !!!
God give me strength.
I hope now you feel a little better ivebeenknocked that you are not the only one to go through this