Deed of surrender/ surrender document - FTB tenanted property

FTB_Help

UPDATE, final offer 450k accepted, spoke to the agents and have been told the tenants are leaving mid Feb 😑

Love the place so we are proceeding (but not exchanging until its vacant) our solicitor suggested a lockout agreement so is writing one up now. Vendor has agreed on having a lockout agreement and said they're paying the tenants a hefty sum to leave at that date which they've agreed to accept. Will ask for copies for deed of surrender/ notice to quit.

I'll keep this post updated once i get any changes, so a big long wait for me!

45002

FTB_Help said:

UPDATE, final offer 450k accepted, spoke to the agents and have been told the tenants are leaving mid Feb 😑

Love the place so we are proceeding (but not exchanging until its vacant) our solicitor suggested a lockout agreement so is writing one up now. Vendor has agreed on having a lockout agreement and said they're paying the tenants a hefty sum to leave at that date which they've agreed to accept. Will ask for copies for deed of surrender/ notice to quit.

I'll keep this post updated once i get any changes, so a big long wait for me!

Tenants they could change their minds or be unable to move for other reasons.

Don't trust everything an estate agents tells you.

A notice to quit doesn't end the tenancy, If T doesn't leave of their own free will LL has to go to court obtain a possession order and in the end bailiffs to remove the tenant which could take up to a Year !

greatcrested

It sounds good, and fingers crossed for you.

But bear in mind if the tenants don't find somewhere to go they might decide to forgo the 'considerable sum', and stay.

Or coronavirus.

Or last minute they demant a 'considerable sum' plus more....