Buying house with tenant in

G_M

Pixie5740 wrote: »

...

As GM says, a little communication and this could all be sorted out quite easily. It's just unfortunate that the OP is the jam in a greedy LL sandwich.

Love the metaphor!

franklee

Pixie5740 wrote: »

It's just unfortunate that the OP is the jam in a greedy LL sandwich.

Brilliant way to put it :T

thesaint

There is absolutely nothing wrong with the landlord wanting to collect rent until the 11th hour.
In fact, any businessman should be doing exactly that. We all do it in our lifes, but when a landlord does it "He wants his cake and eat it". Such nonsense.

The OP could pay the rent that the landlord loses. This would ensure vacant possession.
Or stay in their current property, and pay the £280 fees the landlord would be awarded if he submits his N5b paperwork for possession.

Pixie5740

The LL either wants to sell or they don't. No solicitor worth their salt will let contracts be exchanged without vacant possession and if there is a mortgage involved nor with the lender. All the LL is doing is causing the sale to drag on and risks losing the buyer.

Bloodymary

thank you all for the comments!

So our notice is nearly up and here is a quick recap on what happened in the past couple of weeks.

Following the advice of few people we approached the vendor (of the house we are purchasing) and offered to exchange and pay rent until they are ready to complete - the vendor turned the offer down saying it's "too much hassle" and would rather wait until their fixed mortgage term is up and exchange then.

I went straight away to the EA managing the sale of the flat we are renting and explained the situation, he told us that will advise the buyer and come back to me. Apparently they were hoping to exchange and complete by the 15th of May and would be staying with family whilst waiting for the flat to be vacant. In his words "they could delay the sale but not by a full month"....

Haven't hear back from the agent since Tuesday morning and yesterday I've received an email asking to arrange inspection of the property since we are moving out on Saturday. I called them back to ask what's going on and they told me that the buyer of the flat has actually exchanged on the property the day before and they want us out by the 10th (the original end date of our notice) so they can complete on the 14th.

Now I'm completely freaked out as they are threatening that the buyer would take the seller to court and we would be liable because we are holding up the sale and the seller will come after us etc...

Tried calling our solicitor but she's on annual leave (plus she's conveyance specialist and really this is not her expertise).

Looked at short-term lets but it would cost is over £2500 for the 24 days until we are due to complete which is money we don't have...

I guess I'm looking for reliable advise as to how much troubles we would be if it actually goes to court?

casperlarue

Bloodymary wrote: »

thank you all for the comments!

So our notice is nearly up and here is a quick recap on what happened in the past couple of weeks.

......

Haven't hear back from the agent since Tuesday morning and yesterday I've received an email asking to arrange inspection of the property since we are moving out on Saturday. I called them back to ask what's going on and they told me that the buyer of the flat has actually exchanged on the property the day before and they want us out by the 10th (the original end date of our notice) so they can complete on the 14th.

So the seller/buyer of your flat exchanged without vacant possession....?? That was brave/foolish of them!

I would be surprised if you were held to blame for holding up the sale, until a court orders possession you still have a legally valid tenancy... I think your seller has been badly advised.

Bloodymary

they've seen the flat once for like 5 minutes at the original viewing in mid January... how could they exchange without inspecting the property first I don't know....

AndyT678

I think your LL and their buyer are idiots and you're fine. Stay put till you complete your own purchase or get kicked out by a court.

Pixie5740

You're fine. If the buyer of the flat you're currently living in has exchanged without vacant posession then hard cheese. I assume they're either cash buyers or BTL investors although I can't work out why their solicitor let them exchange. Mind you it could be a bluff on your LL's part.

kwmlondon

It sounds like they're b*******ing you. The seller will have signed a contract saying that the property will be vacant on completion - THEY have taken legal responsibility for this. The buyer's solicitor is answerable to the mortgage company about this and if they sign off on the property being vacant and it isn't then they are going to face an apoplectic lender. They are piling the pressure on you to get out because they've messed up. Keep your nerve, they'll just have to delay the completion. This is a legal nightmare but not for you.

I'm sorry to hear about this situation, it sounds like hell.