buying tenanted flat for living

[Deleted User]

Strongly advise you to look through for a property through another
EA, asking for a non tenanted property. Sounds to me like you have used a EA who is not motivated to actually sell.

eddddy

hi123 wrote: »

estate agent tells me that they will only give notice to tenants upon exchange

Assuming the seller has a UK solicitor (or a solicitor who understands UK law), the solicitor will advise the seller not to do that.

If contracts are exchanged and then the tenants don't move out, the seller will be in breach of contract - and you could sue the seller for damages.

Although, if the seller is in south east Asia, even if you get a judgement against them, it may be difficult to get them to pay up.


(In general, there's a bit of extra risk buying from a seller abroad. It might be much harder to enforce legal action, if the seller breaches the contract etc.)

Slithery

hi123 wrote: »

estate agent tells me that they will only give notice to tenants upon exchange

Then find a different property.
This one is only suitable if you wish to become a landlord.

bouicca21

There are lots of nicer places within a short commute of North Greenwich. I think you should get the ‘children’ to look further afield.

hi123

bouicca21 wrote: »

There are lots of nicer places within a short commute of North Greenwich. I think you should get the ‘children’ to look further afield.

any specific suggestions? for nicer areas please
,will help as i am not from london

Cakeguts

hi123 wrote: »

any specific suggestions? for nicer areas please
,will help as i am not from london

Anywhere really than there.


It depends on where your children work and how much you think you want to spend.



You could try looking at a tube map.

AdrianC

hi123 wrote: »

one which we like is tenanted till sep 2020 but have been assured by letting and sales agent that their is a notice of 2 months break clause in tenancy

OK...

owner does not want to give notice till near exchange or wants us to put a non refundable deposit

It does not work like that. Your solicitor won't allow you to exchange until the property is vacant.

OK, so let's say that the landlord does give the tenant their notice.
Two months could be nearly three, because the notice has to line up with a rent due date.
Then what if the tenant doesn't move out? The landlord needs to go legal to regain possession. That could take months.
Or maybe the notice isn't even valid, because the landlord failed to do one of the various important prerequisites at some point through the tenancy, without which s21 notice is void, so no possession order is granted.
But let's assume the tenant does move out... What state is the property in? Trashed?

estate agent tells us this is very common

The agent is paid by the vendor.

jonnygee2

from what i gather most flats in north greenwich /canary wharf area are owned by overseas investor who dont seem to mind if it remains on rent or get sold so appears very difficult to negotiate

The Isle of Dogs has a population of about 150,000, north Greenwich probably something similar. Combined they have a larger population than all but a handful of UK cities. Add in the surrounding boroughs and you have something about the size of metropolitan Manchester.

I'm pretty sure some people in there own their houses and are selling them. Sure, some are buy to let, but definitely not all of them. Keep looking and you are going to find something suitable.

lewishardwick

If its one of the first phase builds of 'North Greenwich Village', I'd avoid like the plague.

They aren't even 20 years old and already look a state!

Comms69

Eviction on average takes 6-9 months; and I strongly suspect longer in this case as the agents sound incompetent.


If you wait until 'nearer exchange' you'll still be waiting in Sept 2020...