Landlord (me) selling house with tenants in it...

sparky130a

pinkshoes wrote: »

This is a website for advice. Your post offers no advice whatsoever.

The OP have already said they are 'clueless' hence they have come here to ask for help.

Normally i'd agree.

But i'll not add a sugar coating to a complete !!!!! cake.

Ironically there was advise in my answer. Stop being a LL.

FBaby

Ironically there was advise in my answer. Stop being a LL.

Pointless advice since that is exactly what OP is doing. At the moment, the situation is not yet conflictual, just pointing concerns on both sides. It is to avoid reaching the stage of conflict they've come here to post, so your response was really over the top.

Crashy_Time

juniordoc wrote: »

So its on the market now, have you had any viewings yet?

Sounds like your difficulty is going to be paying for an empty house rather than having difficulty getting them to leave.

You need to price this house to sell and fast, or it could take until Christmas! Best of luck.

True, you want it sold before all the Brexit wrangling kicks up a gear, and the BTL world catches on to the new tax issues.

glasgowdan

juniordoc wrote: »

So its on the market now, have you had any viewings yet?

Sounds like your difficulty is going to be paying for an empty house rather than having difficulty getting them to leave.

You need to price this house to sell and fast, or it could take until Christmas! Best of luck.

Juniordoc and Crashy might one day convince every seller to drop 40% off their asking price. Just maybe.

sparky130a

FBaby wrote: »

Pointless advice since that is exactly what OP is doing. At the moment, the situation is not yet conflictual, just pointing concerns on both sides. It is to avoid reaching the stage of conflict they've come here to post, so your response was really over the top.

But it was advice, and coherent. And valid.

[Deleted User]

Try and look at it this way. If you sell it empty you will have to cover the mortgage without any rent income, but you could get a higher price for the house than you would if it was tenanted and will almost certainly sell it more easily. So the benefits to you as a house owner/LL are there.

Now you need to see if there is a way to manage your finances so you can cover any shortfall once the tenants move out.

It IS awful being a tenant in a property that is being sold. It really is.

But do you really really have to sell if the tenants are good tenants, paying the rent on time and the rent covers your costs (assuming it does)? I know you rented to them with the idea of them buying it, but if your costs are covered., do you really need to? Has the house increased in value while its been rented?

kerri_gt

If you have concerns about covering the cost of the mortgage and where you are now once your tenants move out, could you move in until it sells? It might not be ideal from an emotional perspective if its where you lived with your ex, but the owner of the house living there whilst its up for sale isn't going to put people off like tenants being in situ would do.

Obviously this would mean you then also need to look for somewhere to live when the house sells but you won't be paying for two properties.
Of course, you would need to factor in moving costs for both moves too.

Riggyman

Crashy_Time wrote: »

True, you want it sold before all the Brexit wrangling kicks up a gear, and the BTL world catches on to the new tax issues.

Oh, do !!!! off

Crashy_Time

glasgowdan wrote: »

Juniordoc and Crashy might one day convince every seller to drop 40% off their asking price. Just maybe.

And if we don`t no doubt reality will, eventually?

Guest101

letswait wrote: »

Out of interest did this sell?

Sorry you created an account to ask this question on a random post about a house sale 4 months ago?