Ho far do you go in buying when tennants not yet out

cluelessoncanvey

As above, had my offer accepted and thne asked when the tennants are out (should have asked this before, oops!) EA said as soon as my solicitor gets in touch they will be served their 2 months notice. The question is how far as a buyer should I proceed in case the eviction of the tennants doesn't go amicably?

maninthestreet

Don't exchange contracts until the property is empty, i.e the tenants have actually left the property.

TonyMMM

Anything you spend before they are confirmed to have left is a risk - you may want to consider how much you are willing to commit to surveys, application fees etc. until that point.

As above - whatever happens, do not exchange until the property is empty.

Leo2020

In your circumstances I would keep looking at other houses until the tenants move out. This way of something else comes up you can always put an offer on that. If not when the tenants move our proceed with the purchase.

DRP

Obviously you'll have to show some commitment: agreement in principal, appoint a solicitor and get a survey booked in is presumably the minimum, but it depends on the vendor i guess.

Just bear in mind that any expenditure is a risk - so minimise it! (no searches or other solicitor work until the tenants are out).

benjus

Depends really. At one extreme you don't want to risk any money on a purchase that could become very problematic if the tenants get difficult. At the other extreme the vendor/landlord doesn't want a large void period between the tenants leaving and the sale completing. So there's a point of compromise to be found, which largely depends on the local market.

In a buyer's market you can stick to your guns and refuse to spend any money until the tenants are out.

In a seller's market you'll have to show some commitment or someone else will. If the market is very hot you may even have to be prepared to shell out for searches etc before the tenants have left.

G_M

I would do less.

Give the seller/EA the contact details of your solicitor but instruct the solicitor NOT to start work (and run up costs) till the tenant's are out. Not 'served their 2 months notice' because it could be considerably more than 2 months before they comply. Actually out.

At most, ask your solicitor to write one letter along the lines of "We act for Mr cluelessoncanvy in the purchase of the above property and look forward to receiving confirmation when the property is vacant. Yours sincerely, HardAss and NoPushover (solicitors).

I would also not spend money on a survey, or mortgage application, till the tenants are out.

write to the seller and ask them to inform you once the property is vacant so that you can re-view, and then proceed.