Buying a house with tenants

kcseb

Like a lot of peeps have said here, if they're on a normal AST (or rolling contract originally based on one) then it should be a 2 month notice period. So if the landlords serves notice (obviously check for evidence of this) and that fits your timeframe, then you should be ok.

DaftyDuck

Frankly, I'd personally be wary of expending money on surveys and legal matters until the house was vacant. With eight people in various rooms, that's an awful lot left to chance and personal whim of a tenant... one family who clearly wish to move anyway might be one thing.... this sounds like a potential nightmare.

Foxy-Stoat_3

Ask for a copy of the Section 21 or 8 that have been served, if they haven't been served then add 2 months as this will give them 2 months to leave before the LL can APPLY for a possession order. Then assume 1-3 weeks to get a court order for possession, assuming they have their paperwork in place and the Judge agrees. Then the LL can instruct ballifs if the tenants still won't leave.

Once they are out you need to inspect the property and assess all the damage and current state...I assume your offer will drop following this!

If you can find another house it would be best !

G_M

kcseb wrote: »

Like a lot of peeps have said here, if they're on a normal AST (or rolling contract originally based on one) then it should be a 2 month notice period. So if the landlords serves notice (obviously check for evidence of this) and that fits your timeframe, then you should be ok.

Sadly there is no guarantee of this as explained above.

firsttimeforeverything_2

If someone could find me another halfway decent property in North London for under £325k, please help me out!

Out of the 8 people in there 4 were kids, and two didn't actually live there, that was an ambiguous aside- sorry.

I will be very careful and won't spend any money until the flat is vacant, I promise.

Mallotum_X

Lots of good advice already.

The key is under no circumstances exchange contracts until you have verified the property is empty.

Good luck, I hope it works smoothly for you and you enjoy your new home (when you get it!)

Voyager2002

firsttimeforeverything wrote: »

If someone could find me another halfway decent property in North London for under £325k, please help me out!

Out of the 8 people in there 4 were kids, and two didn't actually live there, that was an ambiguous aside- sorry.

I will be very careful and won't spend any money until the flat is vacant, I promise.

And don't stop viewing other properties while waiting for vacant possession on this one! You might have a VERY long wait; you might find that once they are finally out they have done so much damage that the property is no longer acceptable to you; and all this time, the prices of everywhere else are rising out of your reach...

firsttimeforeverything_2

Voyager2002 wrote: »

And don't stop viewing other properties while waiting for vacant possession on this one! You might have a VERY long wait; you might find that once they are finally out they have done so much damage that the property is no longer acceptable to you; and all this time, the prices of everywhere else are rising out of your reach...

Good point. We have 4 or 5 more viewings this week and don't intend to slow down on that point- we've been waiting so long already (our offer on the first house that fell through was accepted in June) that I am taking no chances with whatever we do next.

Richard_Webster

It wasn't clear to me whether the house was being sold subject tot he existing tenants or whether the seller was offering vacabt possession.

If the latter it is up to the seller. There will be some delay (2 months at very least) while he does this but it is up to him to sort that. You don't complete any purchase unless you get vacant possession and a seller would be most unwise to exchange contracts until he has obtained possession.

Not a good idea to buy if the the seller is not prepared to obtain vacant possession first.

However this should be pretty obvious. If the place is being offered as an investment then the seller is expecting to sell to someone who doesn't want to live there but just collect the rent. This really should be clear from the agents'details.

G_M

Richard_Webster wrote: »

It wasn't clear to me whether the house was being sold subject tot he existing tenants or whether the seller was offering vacabt possession.

From the first post:

I'm considering making an offer on a property to live in ourselves, that
currently has tenants in it-

I think we can assume the OP does not want to inherit tenants, become a temporary landlord, evict them himself, and then move in....