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Selling with tenants
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flora48
Posts: 644 Forumite
Has anyone marketed a house with the tenants staying until a sale is agreed and then serving the 2 months notice?
My letting agent tells me this is possible. Just wondered if this is a feasible option. TIA.
My letting agent tells me this is possible. Just wondered if this is a feasible option. TIA.
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Comments
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What happens if the tenants won't leave.
I would not spend money on searches, survey, legals with a tenant in place unless I wanted to become a Landlord0 -
Possible but unwise.
Many buyers are put off by tenants.
Personalky, if I viewed a house I liked, with tenants in occupation, my offer would state that I will only progress the purchase (searches, survey etc) once the tenants are gone.
But some buyers will plough full steam ahead regardless. Your choice if you're happy to accept
* fewer prospective buyers
* possibly lower offers
* the risk of a sale progressing and then stalling if the tenants decline to leave when asked (note - 2 months notice does not mean they have to leave)0 -
We viewed a couple of properties with tenants. It's not their house so they aren't really that interested in answering any questions or keeping it tidy.
The last place we viewed was a tip! Stuff stacked up in 2 Of The rooms, we couldn't see the size or potential Of The rooms so we withdrew our interest.
Felt sorry for the sellers, it was a nice house.LBM: 09/12/2008
[strike]£36000[/strike] £0 on 4 cards and a personal loan. Debt Remedy. Signed with CCCS on 14/01/2009 started Feb 2009. Finished March 2016
Lessons learned and facing the struggle have made my life better than I ever thought it could be. Thank you Stepchange and DFW forum :beer:0 -
A common reaction but.....depressed_but_determined wrote: »We viewed a couple of properties with tenants. It's not their house so they aren't really that interested in answering any questions or keeping it tidy.
The last place we viewed was a tip! Stuff stacked up in 2 Of The rooms, we couldn't see the size or potential Of The rooms so we withdrew our interest.
Felt sorry for the [STRIKE]sellers[/STRIKE]tenants, it was a nice house.0 -
The problem is that the tenants don't have to go at the end of the notice. They can stay there until you get possession through the courts. I am not sure how many buyers are content to wait up to 6 months while you get possession of the property.
The alternative is to sell the property to another landlord.0 -
It is seen as the greedy approach, wanting your cake and eating it. LOts of landlords are now selling up and trying this with the tax changes amking their properties unviable.
Personally I would only view empty properties, no way am I risking paying a mortgage for someone else to live in my home.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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