Buying a tenanted house - damage/ problems after acceptance

jeaniemsm

Hi there,

Just wanted some advice/ experiences of anyone purchasing a house that had tenants living in before acceptance.

If you went through the mortgage application and surveys whilst the tenants were still living there, (had everything approved), has anyone had any damage to the property after the tenants had left, if so what was the outcome, did you manage to reduce your offer? Any advice of what to do before i start, still at the negotiation stage, but just wanted some advice.

Thank you

davidmcn

I would be waiting for the tenants to vacate before you waste your time /money on mortgages applications and surveys. 

jeaniemsm

Hmm, really keen to get everything shorted asap especially before March, the area we're looking us fairly popular, the viewing we had the other day had 3 other couples viewing and its in fairly good condition, just a little dated and ok price point compared to others sold in the area but at the top range of our budget, been on the market for 2 weeks. The tenants are only allowing viewings every 2 weeks and the vendor just wants to get rid asap so hoping our bids will go through before any other views takes place in 2 weeks time. Arrgg!

davidmcn

The tenants could still be there in March. No chance of any evictions in the near future. 

jeaniemsm

They've been given notice, i just need clarity from the vendor on what date they're expected to leave, the EA was a little vague and said before xmas.

The vendor had a sale fall through at the asking price a month ago as the offer wasn't really genuine/ affordable for them as the EA put it and it seems they really just want to get rid, we went in 8% below asking but are in a really good position as ftb so fingers crossed they can see we have real sustance to our offer

davidmcn

Yes, but being given notice doesn't mean they'll leave. They can sit tight until they're evicted. Which takes months at the best of times, and with the covid moratorium (and court backlogs), even longer now. 

SpiderLegs

jeaniemsm said:

They've been given notice, i just need clarity from the vendor on what date they're expected to leave, the EA was a little vague and said before xmas.

The vendor had a sale fall through at the asking price a month ago as the offer wasn't really genuine/ affordable for them as the EA put it and it seems they really just want to get rid, we went in 8% below asking but are in a really good position as ftb so fingers crossed they can see we have real sustance to our offer

‘Before Xmas’ 😂
Your ability to buy this house in any kind of reasonable timescale (i.e the next twelve months) is entirely at the whim of the current tenants. Not the vendor and certainly not the EA.
i wouldn’t be too confident if they are only allowing viewings every two weeks. 

jeaniemsm

That's our worry at the moment, we're still in negotiations stage so if/when we get accepted we're going to get full clarity on the tenant situation i.e has eviction been served, have they found a new place to move into and when etc etc. Don't really trust most EA especially this at purplebricks. I think the viewing every 2 weeks will work i  our favour it just means we'll have 2 weeks where no other people are viewing whilst we hash out the price

SpiderLegs

jeaniemsm said:

That's our worry at the moment, we're still in negotiations stage so if/when we get accepted we're going to get full clarity on the tenant situation i.e has eviction been served, have they found a new place to move into and when etc etc. Don't really trust most EA especially this at purplebricks. I think the viewing every 2 weeks will work i  our favour it just means we'll have 2 weeks where no other people are viewing whilst we hash out the price

The only people you can get clarification from is the tenants.

2 week viewing suggest the they know what they are doing and are not going to be pushed around just because the vendor wants to sell their home.

comeandgo

jeaniemsm said:

That's our worry at the moment, we're still in negotiations stage so if/when we get accepted we're going to get full clarity on the tenant situation i.e has eviction been served, have they found a new place to move into and when etc etc. Don't really trust most EA especially this at purplebricks. I think the viewing every 2 weeks will work i  our favour it just means we'll have 2 weeks where no other people are viewing whilst we hash out the price

You will have no idea if what you are told is the absolute truth and even if you are told the tenants hope to move on a set date you have no guarantee this will happen.  
If they are trying to get council accommodation they must be evicted before this will happen which means going through court.

kazwookie

The notice may have been served but that does not mean to say they are going on that date, they could sit tight until court evictions which could be months away