Would you purchase a house with sitting tenants ?

[mumof2teentoddler]

Just that really - we have an open house with 8 viewings and we are the tenants… we do have a date for the section 21 where we need to be vacant by end of May but at the moment there’s no rentals we can find. so very worried. Just wondered if this would put potential buyers off, or not.

We are very sad but understand that this can happen and the landlord wants his house back of course. We tided the house as much as we can with 2 children !

Honestly no I wouldn't. I'm sure some people would and maybe you'll get lucky with a landlord taking it on who is amenable to having tenants in situ but for people buying it to make it their home it's very likely to be a red flag that leads to them not making an offer.

Unless the buyer is looking for tenants and wants to rent out, which is our ideal situation then that would suit everyone but probably unlikely. We hope to find something before the end of May of course but we may not. Unless the new buyers are in no rush, it’s a sought after area, I guess you don’t know peoples situations but just wondered if it would put people off

No. Not if I wanted to house to live on because I wouldn't want the risk of them not leaving. Not if I wanted a rental property because of want to vet tenants myself and also would wonder why the landlord was selling.

It needs a different kind of mortgage to buy a house to rent out, so unless the landlord is specifically selling on that basis, it’s unlikely people viewing will have got a suitable mortgage

I wouldn’t be allowing viewings while I’m still living there and paying rent!

But this is the thing….its unfair he should hold off until May, no ? I mean we aren’t happy about it but we are trying to be fair and reasonable. I spoke to the council who said to stay past May and he would need to go to court for possession which ‘could’ take months….but I do not want to go down the court route. It’s just so stressful we are so settled in this village, didn’t realise how hard another rental would be and almost almost mortgage ready but not quite. It’s just so sad.

Most people looking to buy houses want to live there themselves.

there’s a lot fewer people wanting to invest money into property.

Sorry what do you mean? We have no idea why he’s selling just been told he needs a ‘quick sale’ we’ve been renting off him for 4 years, he’s been a good landlord and we’ve been good tenants, very much looked after his home. Surely the people viewing will have mortgages in principle and will be either BTL or just normal mortgage ready ?

Agree with PP , I wouldn’t allow viewings especially an open house, and as a Landlord I wouldn’t ask my tenants to inconvenience themselves to allow them either. We have had tenants offer to allow interested potential tenants to view during the notice period, and we were very grateful. Are the estate agents expecting you to go out while people view? That would be unacceptable if they did, especially in this weather with children.
I went with a friend to see a house which had looked very promising and the tenants showed us around- they pointed out a few things which she hadn’t previously realised, which would have been expensive to fix . She didn’t buy it.

Often it says on Rightmove for sale with sitting tenants. I wouldn’t view or consider the house unless I were an investor.

The landlord is either selling the house with sitting tenants as a rental, in which case potential buyers would have to have a buy-to-let mortgage in place, or he’s selling with ‘vacant possession’, i.e. with a guarantee that you will be gone by the day the sale completes, to a regular residential buyer. He can’t have it both ways - solicitors wouldn’t let the sale complete with vacant possession unless they’re sure you will be out on the day of completion.

I have just seen you are almost mortgage ready. Any chance that you could do a deal to buy your rental property? You might be able to negotiate a deal as he could avoid some of the costs especially if you do stay put, and it needs to go to court. Anyone looking for a property to live in will be wary of a tenanted property so his pool of potential buyers will be smaller.

It’s your home. He absolutely should wait until you’ve moved out. You are within your rights to refuse viewings.

yeh I did think this was a extremely low chance of that

Nope

I don’t think we can refuse though and we want to keep good relations and if we need to rent agin which is likely then will need his reference
my husband will be home, we aren’t comfortable without one of us, the estate agent is coming, one child who is a teen will be out and my toddler will be with me ( out ) as I didn’t want her to see people coming in, may have children touching her toys etc

Possibly…currently talking to a broker now however the landlord knows our situation
we asked for time but sadly he needs a quick sale but we should know an answer by next week if it’s a no for this house we aren’t that far off so it will just be such a blimming shame

It doesn’t say anything like that on Rightmove unfortunately

He said to us that one of the 8 people may be looking for BTL so I honestly don’t think he knows what peoples situations are? Surely this comes after the offer? Understand he the two options but at this stage i guess we don’t know…

Stay put and keep paying rent until you either have moved into another place or are evicted by bailiffs.

I cannot emphasise this enough. The council have given you this advice for a good reason.

If you leave voluntarily, and that includes leaving on the "quit date", you will be classed as voluntarily homeless and you will get no help from the council. Having kids will not change that. You will be on the streets with your kids.

He’s unlikely to get a quick sale because if you stay where you are until you absolutely have to go, I doubt he’d get much interest and sales can drag on anyway.

His best bet is to wait for you to be ready to buy.

Stop thinking in terms of being nice. You have a contract with this landlord. You don't owe him "nice".

As PP have said, he cannot sell the house with "vacant possession" when you still live there. You still live there until the bailiffs throw you out or you have taken possession of your next rental.

Could you ask him to do that? You never know.

As a former property solicitor, I would not exchange on a property with tenants in situ. No solicitor would advise this either. Even adult children can be risky!

The landlord is trying to maximise his income by not having the property sitting empty while it sells. He’s thinking of himself in this so please do the same and don’t feel you have to accommodate him at your expense. After all, you are still paying his bills.

I hope you find something soon.

https://england.shelter.org.uk/housing_advice/homelessness/intentionally_homeless#if-you-get-a-section-21-notice