Selling with sitting tenants

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    #16
    The last place I sold, I put it on the market when tenants moved out; I gave it 1.5 months (whilst I decorated and went on holiday).
    No interest at all, so I let it, but left it on the market.
    3 months later it sold with tenant at the asking price.

    However, I was not in a rush to sell; I am disposing of properties as they become vacant, so I could have waited a year for the right buyer to come along.

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      #17
      I purchased a property last year with tenants in-situ, the process was no different than buying another house.
      I liked the idea that I didn’t have to go out and find tenants and had instant income. But to each to their own.

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        #18
        Originally posted by RedHitman View Post
        I purchased a property last year with tenants in-situ, the process was no different than buying another house.
        Other than checking - start with asking tenant - when they 1st moved in so you are sure it wasn't an AT or Rent Act tenancy: Yes, even if there's a shiny new signed AST...

        & serving notice(s) complaint with s48 & s3: Or no rent due (s48) and possible fines and criminal record (unlikely - s3..)

        Amazing how many "expert" letting/estate agents appear to never had heard of the s48/s3 issues...
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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          #19
          I meant from a legal stand point with the solicitors etc it was no different than buying another property.
          I guess I was in a fortunate position as I knew the seller so I had all the information to hand with regards to the tenants and tenancy etc.
          But yes, you’re right, it’s good to check the tenancy details and understand what you have to do as the new landlord with regards to the other stuff.
          I was merely Referring to the buying process...

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