Buying a house that has tenants in it

grifferz

kwmlondon wrote: »

Well, I hope you are wrong, but you may be correct and if so it will be a two month notice period.

Five minutes on the Internet (e.g. shelter web site) will show you that Angie is correct, although the tenants may voluntarily leave earlier than two months if you are lucky.

The tenancy agreement may also say one month with the tenants not clued up enough to know that it is an invalid clause. Tenancy agreements often try to get away with things that aren't valid, e.g. allowing landlord access any time for any reason, not allowing tenants to change utility suppliers, and so on.

So two months is the worst case for notice period. Then you're relying on the tenants to voluntarily leave after that point.

fc123

kwmlondon wrote: »

Sure, that's fair enough.

And I understand that not everyone will look through the oodles of posts that have gone before, and there's been a fair bit of to-and-fro on the issues.

In my defence, I'm only posting up what I get told by various parties as I come across it, e.g. the note on the surveyer's report. It's a process and there will be options and choices arising as it goes along.

I am genuinely grateful for people's input, especially those who have gone through protracted processes in the past (and currently) as it's incredibly useful to know.

There are inherent risks in buying a property. Some you can minimise, some you can totally protect against, and others you have to simply have a plan to contend with if it goes wrong and everyone's contributions are really helpful in understanding what the choices are and what the outcomes could be.

...I'll update over the W/E as completion day is this Friday, vendor apt booked, solicitors ready for word 'go' + locksmith booked for 5pm.
As you say, anything could happen but then that's life isn't it? We have prepped as best we can and will see what happens.

kwmlondon

grifferz wrote: »

Five minutes on the Internet (e.g. shelter web site) will show you that Angie is correct, although the tenants may voluntarily leave earlier than two months if you are lucky.

The tenancy agreement may also say one month with the tenants not clued up enough to know that it is an invalid clause. Tenancy agreements often try to get away with things that aren't valid, e.g. allowing landlord access any time for any reason, not allowing tenants to change utility suppliers, and so on.

So two months is the worst case for notice period. Then you're relying on the tenants to voluntarily leave after that point.

Well, again, that's acceptable. If they don't leave and the whole situation telescopes out then that's what happens. I have no pressure on me to move in a particular hurry. It would be good to get things over and done with quickly, but if not then that's just the process.

PancakeP

I am also in this situation, buying a property with tenants in who are under notice to leave, which I have confirmed with the tenants themselves. although accept this is no guarantee they're going to actually be going . . .
Anyway, I have been following this thread with much interest and intend to view my property on day exchange is due to take place to ensure it is actually vacant. Can I ask for locks to be changed on that day (at my expense) to confirm that it then stays a vacant property between day of exchange and completion?

Dan-Dan

kwmlondon wrote: »

Well, again, that's acceptable. If they don't leave and the whole situation telescopes out then that's what happens. I have no pressure on me to move in a particular hurry. It would be good to get things over and done with quickly, but if not then that's just the process.

What happens if it takes so long you lose your buyer? i know you say you will find another one easy enough but for a short time until you did you would be un-proceedable?

grifferz

PancakeP wrote: »

Can I ask for locks to be changed on that day (at my expense) to confirm that it then stays a vacant property between day of exchange and completion?

Yes, although in the worst case that the tenants just happened to be out when your vendor changed the locks, it is still their home and they can break back in, so this is not an absolute guarantee.

Presumably it would be fairly obvious to you though if the property looked like it was still someone's home just prior to exchange.

PancakeP

OK, that's very helpful - thank you.

kwmlondon

Dan-Dan wrote: »

What happens if it takes so long you lose your buyer? i know you say you will find another one easy enough but for a short time until you did you would be un-proceedable?

What would YOU do if your buyer dropped out?

It can happen in the most (apparently) trouble free sales.

kwmlondon

grifferz wrote: »

Yes, although in the worst case that the tenants just happened to be out when your vendor changed the locks, it is still their home and they can break back in, so this is not an absolute guarantee.

Presumably it would be fairly obvious to you though if the property looked like it was still someone's home just prior to exchange.

I've been considering this too. I'm going to inspect the property before the exchange and will request the locks get changed. I'm happy to pay for this, also, as it would be something I'd do anyway.

Dan-Dan

kwmlondon wrote: »

What would YOU do if your buyer dropped out?

It can happen in the most (apparently) trouble free sales.

Your situation is slightly different , in your own words you are happy to let your sale `drag on` and you seem to be fairly lax in how long you need to complete on your purchase.

Presumably , as you live in an area where properties like yours get snapped up quickly , if your buyer gets a sniff they are being strung along , they could quite easily move onto to a less stressfull chain...

Your attitude could end up biting you on the !!!!