Buying a house without vacant possession, Would you?

Dan-Dan

flambo33 wrote: »

If the tenants were to trash the place it's also in the contract that it would be rectified before completion

To who`s standards?

benjus

Dan-Dan wrote: »

Is this really,honestly word for word from a legal professional?

Did they get their degree from a Mcdonalds happy meal?

Have to agree that the solicitor's email (if it is indeed presented verbatim) does not inspire much confidence.

You appear to have a moneygrabbing vendor that doesn't want to lose a penny of rent or sale price and wants you to carry most of the risk involved, combined with a solicitor who appears to be of dubious competence. Now that's a dangerous combination.

marksoton

It's the "What do you think?" comment at the end that did it for me..... :rotfl:

Dan-Dan

marksoton wrote: »

It's the "What do you think?" comment at the end that did it for me..... :rotfl:

I know, its almost as if the `solicitor` had a bring your kid to work day and let them have a crack at it

Bluebirdman_of_Alcathays

Is this a conveyancing farm or a local reputable firm?

marksoton

Bluebirdman_of_Alcathays wrote: »

Is this a conveyancing farm or a local reputable firm?

I'd like to think neither!

Dan-Dan

I think it might be this guy

agrinnall

Dan-Dan wrote: »

I think it might be this guy

I've seen nothing so far to indicate that he doesn't know the law very well and would be as imprecise as the OP's solicitior seems to be - I'd rather have Jimmy/Saul then whoever the OP has selected!

steeeb

Give them 3 choices:

1:
Change the contract so that:
- THEY insure the property between exchange and completion.
- That in the event the property is damaged they return the property to the previous state - however proving this without some kind of 'inventory' will be hard to enforce.
- If the contact is cancelled due to the tenants not moving out or them causing damage and it not being rectified - they will be liable for a 10% penalty as-per if they were to pull out of the process normally. (Or lower this to cover your costs if you wish).

2:
They evict the tenants BEFORE you exchange. If he doesn't want the risk or a few months without rent then he needs to choose one of the other options.

3: You purchase the property WITHOUT vacant possession, and at a reduced price which accounts for that (You could have a long legal battle of over a year, and have the place completely trashed) - so it'll be a large reduction.

If any of them aren't suitable, pull out. £1000 isn't a lot compared to the mine field that COULD happen if you're not properly protected.

Marvel1

flambo33 wrote: »

The terms of the contract are that the seller will evict the tenants before we complete but not before we exchange contracts as he doesn't want to lose money on rent.

That is tough luck on the landlord side of it, I would not agree to this.