Buying a house that has tenants in it

kwmlondon

There are many very useful posts in this thread, and a great deal to take onboard, and I think every contribution adds to the debate. However, I do think that some "what if's" being brought up are so unlikely that you have to consider them freak possibilities that should not stop you (me) buying a place.

These are the kind of things that are good to consider when making arrangements, but if you don't get them in perspective you would simply never buy a property.

At some point you have to take some kind of risk, and as long as you appreciate the possible outcomes and mitigate as much as you can, reasonably, then that's all you can do.

kwmlondon

Dan-Dan wrote: »

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 !!!!

What kind of attitude do you suggest I take? I am genuinely open to any constructive suggestions and I've taken many comments on board already so please, help me out.

Dan-Dan

Your attitude of " stuff your buyer , he`ll damn well wait and if he wont , i`ll just find another........" stinks

kwmlondon

Dan-Dan wrote: »

Your attitude of " stuff your buyer , he`ll damn well wait and if he wont , i`ll just find another........" stinks

What do you suggest I do?

Dan-Dan

kwmlondon wrote: »

What do you suggest I do?

I dont really care to be honest , it`s just interesting reading

grifferz

Dan-Dan wrote: »

Your attitude of " stuff your buyer , he`ll damn well wait and if he wont , i`ll just find another........" stinks

Possibly a bit harsh.. he is being presented with all manner of doomsday scenarios and being asked what he will do to cope with them. In the scenarios where the tenants dig in and refuse to leave, he has little option but to wait it out. So for him to say that he and his buyer will just have to wait it out doesn't really suggest a callous attitude towards the buyer to me. It is just life.

The thing I did find a little odd was the urge to grab on to any hope that this could be made someone else's problem, in the face of multiple people repeatedly saying that wasn't the case. But, we seem to be past that now..

Dan-Dan

grifferz wrote: »

Possibly a bit harsh.. he is being presented with all manner of doomsday scenarios and being asked what he will do to cope with them. In the scenarios where the tenants dig in and refuse to leave, he has little option but to wait it out. So for him to say that he and his buyer will just have to wait it out doesn't really suggest a callous attitude towards the buyer to me. It is just life.

The thing I did find a little odd was the urge to grab on to any hope that this could be made someone else's problem, in the face of multiple people repeatedly saying that wasn't the case. But, we seem to be past that now..

would you be happy if you discovered your vendor was telling people he was happy to `drag out the sale as long as required`


?

kwmlondon

Dan-Dan wrote: »

I dont really care to be honest , it`s just interesting reading

Well, okay.

I'm not in this to screw anyone over in any way. I'm being direct and honest when answering any question put to me by the my buyer. I'm keeping him informed on progress via my EA.

The fact it that if you need to get into a property quickly you really have to look at buying with no chain. If you get involved in a chain you have to fully reconcile yourself to the possibility of a long and drawn out sale.

I don't want to drag the situation out, but I am reconciled to it. The buyer is perfectly welcome to withdraw their offer at any time and buy somewhere else. That would be inconvenient for me but by no means a disaster.

We are all bound up in this situation and have very little control over the speed at which it proceeds.

It may confuse you that I'm so relaxed about this situation, but having weighed up the risks I am totally calm and philosophical. I am open to people's advice but I will make up my own mind.

I will do what I can to make sure that the buyer of my property gets as easy a transaction as possible, but if there's nothing I can do about the timescale then that's it.

kwmlondon

Dan-Dan wrote: »

would you be happy if you discovered your vendor was telling people he was happy to `drag out the sale as long as required`


?

I have no control. He may be cackling away down the pub, he may be planning to rent the place out to a new family for when I move in. I don't know. I can't know. Why fret about things over which I have no control?

My vendor will do what suits him best, I will try to get the situation to go in the way that suits me best, and we will find a compromise that we can both live with or else the sale will be off.

Why get all upset? It's just a house sale.

Dan-Dan

kwmlondon wrote: »

I have no control. He may be cackling away down the pub, he may be planning to rent the place out to a new family for when I move in. I don't know. I can't know. Why fret about things over which I have no control?

My vendor will do what suits him best, I will try to get the situation to go in the way that suits me best, and we will find a compromise that we can both live with or else the sale will be off.

Why get all upset? It's just a house sale.

I just dont think , by reading the thread , you are fully aware of the pressures you might end up under , should your buyer find himself waiting longer than he wants to , and pulls out