buying at auction

james_toney

not sure if this is the right place to post this..

has anyone bought at auction with tenants already in place, or is this something that should be avoided.

the house is still available would it be best to contact the solicitor or the auctioneers?

would they have to tell me if they are paying or not

thank you in advance for any help.

Harry_Boyle

If you are buying the property as a BTL, I would have thought that having sitting tenants was the ideal scenario. If you're buying it as a home then not so good.

Generali

My BiL did this. The tenants lived in the house for 6 months or so, basically until their contract ran out. It worked fine.

james_toney

thanks for this, it would be as a BTL (Harry)

will contact them today see what they say.

JonnyBravo

Make sure you check the tenancy type.
If it's an AST there is not too much to worry about. If its an older tenanacy there could be a great deal to worry about. (All in relative terms!)

james_toney

JonnyBravo wrote: »

Make sure you check the tenancy type.
If it's an AST there is not too much to worry about. If its an older tenanacy there could be a great deal to worry about. (All in relative terms!)

will check this , thanks Jonny

Bigmoney2

I always thought this was unadvisable as the vendor could be selling on a bad tennant.
I'd check for rent arrears.

james_toney

Bigmoney2 wrote: »

I always thought this was unadvisable as the vendor could be selling on a bad tennant.
I'd check for rent arrears.

is there anyway to check this? will the auctioneer have to tell or will they?

thanks dave

michaels

Does the AST continue to run with the new owner taking the place of the previous one? We offered our tenants money to end an AST early when we were selling and didn't exchange until they had left.

Thrugelmir

james_toney wrote: »

would they have to tell me if they are paying or not

Who is the current "owner" of the property?

james_toney

Thrugelmir wrote: »

Who is the current "owner" of the property?

i Dont know the current owner of the property but i spoke to the solicitors acting for the sellers and auctions, and they told me that it is and AST and they never missed a payment and have been in place for 3 years,

thanks everyone for their help.