T refuses L access to carry-out works- then complains!

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    #16
    Jeffrey,

    I would NEVER buy a property without giving it a thorough inspection. I even take photos and damp readings (GE Protometer). I know what to expect. If a tenant is there I meet them and guage if I am buying into a nightmare.

    Have you ever in your legal career seen problems caused by people buying without seeing the property?

    Also, you would need to get the property valued if buying with a mortgage - if the tenant is refusing access there would be no valuation done.
    Liability statement. My liability to you is not to exceed the amount you are paying for my recommendations or advice.

    I see a bright new future, where chickens can cross the road with no fear of having their motives questioned

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      #17
      Have you not heard of 'drive-by valuations', then?
      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
      4. *- Contact info: click on my name (blue-highlight link).

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        #18
        Would you rely on one when purchasing a property?

        If I was buying a property for 20% of full market value I would consider relying on just a drive by valuation.
        Liability statement. My liability to you is not to exceed the amount you are paying for my recommendations or advice.

        I see a bright new future, where chickens can cross the road with no fear of having their motives questioned

        Comment


          #19
          Wickerman is absolutely correct - and BTW I also take damp readings, etc.

          Comment


            #20
            I know my market, I know what I will pay for a property. I do not need a surveyor to tell me what he guesses that it is worth - either through a drive-by valuation, or a full inspection.

            "Hardly the time to sell" It is my guess that properties will shrink in value by 50% over the next few years in real terms - whilst the value remains similar, inflation will kill off the value of the asset.


            We are ignoring OP.

            1. OP, you have a legal duty to undertake repairs to your property. (Let us assume repairs exist and they are the sort in respect of which you have a legal duty to undertake.)
            2. T is refusing you access to undertake these repairs.
            3a. You can go to court and get a court order to have them done - the costs of this action will be enforced against your tenant (almost certainly).
            3b. You can do nothing, and laugh as T wastes his money on visiting a solicitor.

            Of course, if the roof is leaking you will want access to protect your investment. But otherwise, give the T notice (read up on how to do this properly, get it right) to go at the end of the fixed term (and wait until the last possible day to give this notice). Keep the evidence of T not allowing you into property just in case they get the Council's Environmental Health Dept involved as well.

            Comment


              #21
              Originally posted by Telometer View Post
              I know my market, I know what I will pay for a property. I do not need a surveyor to tell me what he guesses that it is worth - either through a drive-by valuation, or a full inspection.

              "Hardly the time to sell" It is my guess that properties will shrink in value by 50% over the next few years in real terms - whilst the value remains similar, inflation will kill off the value of the asset.


              We are ignoring OP.

              1. OP, you have a legal duty to undertake repairs to your property. (Let us assume repairs exist and they are the sort in respect of which you have a legal duty to undertake.)
              2. T is refusing you access to undertake these repairs.
              3a. You can go to court and get a court order to have them done - the costs of this action will be enforced against your tenant (almost certainly).
              3b. You can do nothing, and laugh as T wastes his money on visiting a solicitor.

              Of course, if the roof is leaking you will want access to protect your investment. But otherwise, give the T notice (read up on how to do this properly, get it right) to go at the end of the fixed term (and wait until the last possible day to give this notice). Keep the evidence of T not allowing you into property just in case they get the Council's Environmental Health Dept involved as well.
              Yes, I know my market too, but having viewed countless repos I also know how much damage can be done to a property, and refurbishment work costs money - 100% of which you have to put down in cash, as opposed to the purchase price of a property, most of which will be covered by the mortgage and you only have to put down the deposit. What many people don't realise is that refurbishing a wrecked property often requires more capital (and hassle) than purchasing a similar one in better condition.

              I agree that with galloping inflation the actual value of real estate will not increase much in real terms. But you are forgetting the fact that inflation is the whole point of investing in real estate. A house that was purchased for less than £5k in 1969 is now worth £230k. Inflation shrinks the debt on your property and increases your equity far more than an interest and capital repayment mortgage would do.

              As for the advice you give the OP, I agree totally. Evidence that T is denying access is of paramount importance, so an invoice from the tradesman for an abortive call-out, stating tenant would not grant access would be perfect, and depending on what's on the TA it should also allow the L to recover that cost.

              Comment


                #22
                Originally posted by Perplexed View Post
                I agree that with galloping inflation the actual value of real estate will not increase much in real terms.
                I disagree. I think that in real terms the actual value of real estate should fall by about 50% from peak. As these things always overcorrect, I think 55-60% is more likely. It will not increase in real terms.

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