Buying a Tenanted Property-Help

mgmgrand1

Hi there

I am looking to move and have found a great property I like. Offer excepted. Ready to exchange except the tenants won't move out. I wouldn't mind but it is a new build and only 4 years old and they have been there less than 2 years so no sentimental value or anything.

What is the process?

Any advice would be gratefully received?

Thanks Guys

monty-doggy

Your mortgage may stipulate the house to be empty on exchange so you may not be able to complete anyway. The seller needs to start the eviction process ASAP but this can take time. Even with 2 months notice, they may need to go to court if they don't leave to get an eviction order. Not an easy process I'm afraid.

mgmgrand1

You are a ledge. Pulling out now. Why don't they just tell you these things!!!

monty-doggy

The EA make it sound so easy. I know first hand it's because I am in a rented property and the LL has sold it to someone who wants to live here. The new buyer has been told I am leaving and yet no one has given me my 2 months notice. As it happens I have just bought a house so I am happy to leave when I am ready, but I did check my rights from shelter.org first and they said it can take months and months to force me out.

Before you pull out, have you spent any money on surveys or solicitors yet? Are you sure the tenants won't leave?

If you know first hand they won't, and you are happy to walk away then I would, but if its your dream house I would try to exhaust every option first.

Hope that helps!

Okydoky25

Monty in your case I'm not 100% but if you are still within your contract you are entitled to expenses etc from your LL to move. Worth looking into?

monty-doggy

Ooh thanks, I will look into that. I have not yet given them notice either however I will when I have a move date.

tim123456789

Okydoky25 wrote: »

Monty in your case I'm not 100% but if you are still within your contract you are entitled to expenses etc from your LL to move. Worth looking into?

The clue is in monty's post.

if he was in contract, he wouldn't be able to give the LL notice when he wants to move, at his convenience.

tim

monty-doggy

tim123456789 wrote: »

The clue is in monty's post.

if he was in contract, he wouldn't be able to give the LL notice when he wants to move, at his convenience.

tim

I am confused what do you mean?

grifferz

monty-doggy wrote: »

I am confused what do you mean?

tim means, if you were inside your fixed term and therefore your landlord had no legal means to force you to leave before the end of it, your option would be to offer an early surrender in return for consideration (e.g. some money).

However, since you have said that you are free to give your own notice whenever, that means you are not inside your fixed term because the fixed term would also apply to you.

Your context suggests you are in the periodic rolling tenancy where you can give one month of notice or your landlord can give you two months of notice.

Note that if your landlord wants you out sooner than two months and you are willing to do that then you could still offer to do so for consideration. One month might not seem a lot but it could be the difference between keeping or losing a nervous buyer.

PasturesNew

mgmgrand1 wrote: »

... they have been there less than 2 years so no sentimental value or anything.

...

Just a small matter of it being their HOME and costing them MONEY to move just because somebody on a whim has sold their HOME from underneath them. Finding somewhere to rent isn't easy - and it isn't cheap. People have many problems/considerations in moving. Maybe one of them works away months at a time, or isn't allowed to book annual leave when they want, or they have to work within a specific radius of their job (fireman), or they've got kids in school who have already been in 4 schools in as many years.

Yeah, no sentimental value .... or anything!

monty-doggy

Oh I understand now. Yes it's a rolling contract. Will keep it as a trump card if they decide they want me out before I am ready to leave! Thanks!