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Solicitors changing date of entry?
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Proceding with the purchase of a tenanted property is always fraught with risk.
You (and the seller) have noguarantee of if or when the tenants will leave.
Personally I would never waste money on surveys, legals, mortgage application etc until the tenats had gone and the property was vacant.
Why? Well, you now know why!0 -
So you're happy to become their landlord...?
Ah, the naivety of youth! No, clearly the vendor sort of forgot about that bit, and about the minimum amount of notice he had to give the tenants.
No solicitor worth his salt will allow the sale to reach the point where it's binding with tenants still in residence - simply because the date of vacant possession is impossible to guarantee. Even once their notice has a definite expiry date, it's impossible to guarantee until they're actually out. If they decide to stay on, the legal process to regain possession could be months. Even then you have no idea what state the vacated property's going to be in.
You're the one who chose to give your landlord notice before the purchase became binding, with a binding completion date... So...
Just be thankful the entire deal hasn't fallen apart.
Yet.
And why would the deal fall apart?
Forgive me, as a first-time buyer, for being so naive.0 -
Any of a million reasons, from "the vendor suddenly decided he wanted another £25k" to "the buyer suddenly decided he wanted to pay £25k less" to "oooh, those cracks look structural" to "I'm sorry to have to tell you about your job" to a new knocking shop opening next door to...And why would the deal fall apart?0 -
Any of a million reasons, from "the vendor suddenly decided he wanted another £25k" to "the buyer suddenly decided he wanted to pay £25k less" to "oooh, those cracks look structural" to "I'm sorry to have to tell you about your job" to a new knocking shop opening next door to...
Cool.
Anyway, thanks everyone for their input.
Will be happy to post updates (if anybody cares :laugh:).0
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