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Is it unwise to place an offer on a tenanted property?

53 replies

whichwayfornow · 26/08/2021 10:03

I wonder if anyone has been in this position and whether it is generally considered unwise.
We are in a bit of a difficult situation where we need to move out of our accommodation soon. There aren't many suitable properties for us to buy on the market at present but we have a few viewings lined up. A couple of the houses currently have tenants in situ. Both have apparently been given official notice. If we really like one of these properties, how should we proceed? Would it be reasonable to place an offer but not progress further until the tenants have actually moved out? Is it generally unwise? The agents have described the tenants as 'good tenants' but obviously they would need to find a home and there isn't much available at present.

OP posts:
TatianaBis · 26/08/2021 23:18

I would check if it’s possible that the 4 months notice may get extended to 6 months if we go into another lockdown over the the autumn.

TatianaBis · 26/08/2021 23:20

I don’t know if that can be changed on the hoof, but I’d want to make sure.

In principle, personally I would avoid a tenanted property.

Shadowboy · 27/08/2021 17:59

We have in the past purchased houses with tenants. It’s a risk but in both cases, they were easy and straightforward - no issues

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