Offering on a house with tenants

movilogo

No I don't but before placing an offer I'll be visiting the property again and will ask tenant then.

All I know that this property is being rented since 2010 but I don't know if same tenant is staying there since then.

45002

movilogo wrote: »

No I don't but before placing an offer I'll be visiting the property again and will ask tenant then.

All I know that this property is being rented since 2010 but I don't know if same tenant is staying there since then.

If the current LL service notice on the tenant (s21) and T doesn't move out

Current LL would have to go to court/bailiffs so on,you would be looking at least the start of summer time next year may be later, before current LL could sell with vacant possession !

hazyjo

Gwhiz wrote: »

And nor would a solicitor typically let you exchange.

Did have that but deleted it! Yep, that too (usually) x

tryfan

movilogo wrote: »

In same fashion, I wonder how serious vendor is about selling the property if is not lying vacant. Having a tenant means money coming so vendor may not fully committed to sales.

I think having tenant just introduces one more element in chain. Not only I need to find a buyer for my own house but also the tenant needs to find a place to move out.

I recently sold my house, with tenants in, the buyer waited until vacant before exchanging and completing on the same day. It sold for 95% asking price and took about 10 weeks from offer being accepted. That said there was no chain just the buyer and myself, the LA was also the selling agency so they helped a lot and had an obvious interest in it all going smoothly. The tenants moved out 3 days after they said they would, slight panic, but was overcome easily enough.


Good luck and go for the purchase if you want it.

dancingfairy

I would want to meet the tenants. You should get a gut feel for a) whether they are being kept in the loop and b) whether they are making plans for their onwards move and c) whether it is likely they will actually move at the correct time.
I would want to actually see the contract they have signed. If it is a fixed term contract then obviously they are bound by the fixed term. If they are now on a rolling contract then things will be much easier. Obviously you are still relying on the landlord getting the dates and timings right and serving the correct notice on the tenants which is not always easy to get right in terms of the legal side of things.
As the person in the above post mentions you could always go with a discount for the inconvenience cause
Oh and be aware if for some strange reason that you did manage to complete with tenant in situ this would mean that you would become the new landlord and as such would become resnsible for returnign the deposit (Whether or not you had been given it), any gas safety certificate/health and safety issues and you would then have to make sure you evicted the tenant legally on top of that. Oh and you'd possibly be in breach of your mortgage etc etc. Not something I would recommend. Insist on vacant possession.
df

antrobus

beyourself wrote: »

... The house should be constantly kept clean and tidy! You need to ask the tenants to keep the beds made and dishes out of the sink, but you also need to remind them to keep cash, jewelry, firearms, prescription drugs and anything embarrassing out of sight of prospective buyers. .....

Firearms? Firearms! This isn't Texas you know. People over here in the UK don't typically have AK47s lying around on their kitchen tables.

Spam can be quite funny sometimes.:)

ValHaller

dancingfairy wrote: »

I would want to meet the tenants. You should get a gut feel for a) whether they are being kept in the loop and b) whether they are making plans for their onwards move and c) whether it is likely they will actually move at the correct time.
I would want to actually see the contract they have signed. If it is a fixed term contract then obviously they are bound by the fixed term. If they are now on a rolling contract then things will be much easier. Obviously you are still relying on the landlord getting the dates and timings right and serving the correct notice on the tenants which is not always easy to get right in terms of the legal side of things.

Just for clarity, being bound by the fixed term means that the tenancy will almost certainly continue to the end of the fixed term, not that the tenants are bound to leave at that date. DF, I am sure you mean this - just that I am reading it for how it could be misunderstood.

harrys_dad

beyourself wrote: »

When I was selling my house I just posted its pictures and wrote a description at different websites like......... You know, nowadays it’s the best way to sell your property and find the buyer.

Spam advertising on this thread too then.

Guest101

beyourself wrote: »

You can tell your tenats that you are going to sell your house to warn them and to cooperate, perhaps they agre to buy your house, who knows! If you don’t tell him, imagine what problems you can yoface when it’ll be the time your tenant to move and when your would-be seller will come to see the house. The first thing you should do is to check out the local tenant-landlord rules that may vary from one jurisdiction to another. Some people say that having a tenant can have a negative impact on a home that's on the market. The house should be constantly kept clean and tidy! You need to ask the tenants to keep the beds made and dishes out of the sink, but you also need to remind them to keep cash, jewelry, firearms, prescription drugs and anything embarrassing out of sight of prospective buyers. If your tanats cooperate with you, you’ll get better chances to sell the property. When I was selling my house I just posted its pictures and wrote a description at different websites like. You know, nowadays it’s the best way to sell your property and find the buyer.

Funny when u say that to tenant and they refuse viewings...

Funnier still is a newbie mentioning the same company in all their posts.....

ValHaller

Guest101 wrote: »

Funny when u say that to tenant and they refuse viewings...

Funnier still is a newbie mentioning the same company in all their posts.....

Funniest of all is someone quoting the payload of the spam.