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 !

It’s a 2 way street for good reference and also bargaining tool for your notice period and your deposit back

I’m a landlord and wouldn’t consider putting a property on the market with tenants still living there. It’s completely unfair to you as it is your home and also a waste of time for potential buyers looking to buy their own home as no guarantee of when the property will become vacant.

I wouldn't but I'm a normal buyer, I have seen houses with sitting tenants but they are generally advertised as an investment opportunity for landlords.

Could you get one of the renters mortgages like this

www.skipton.co.uk/mortgages/first-time-buyers/track-record-mortgage

I probably wouldn't make an offer on a property with sitting tenants. I would definitely think very carefully about it.
I remember your other thread. It's very early in the notice period so try to stop panicking. As I said on your other thread, I would also think v carefully about rushing into buying with a very small deposit. Your risk of ending up in negative equity would be high with the current economic situation.

I would be having a talk with the LL and asking him to wait until you are ready to buy the property. Selling to an existing tenant is a landlords dream because they are able to receive rent until completion. It can be cheaper to cut out an agent and do the deal privately between the two parties and their solicitors. Far quicker and less stressful for both sides.

Not a chance. Tbh I’m selling our rental too, the government are making it impossible to be a landlord. Fine, not sure where all the people are going to go, though.

We had this last year as the tenants. We allowed limited viewings with at least 24 hours notice when it was convenient for us. We definitely would not have allowed an Open House or any viewings without one of us there. In the event the house sold really quickly so although it was stressful having to move, at least we didn’t have any more viewings.

The estate agent will probably gather information on potential purchaser situations.

However, even if someone is buying it to rent out, they may well prefer vacant possession so that they can do any refurbishment, ensure they have done all their own gas checks etc.

@harriettenightingale isn’t an Open House just a day on which the estate agent takes many bookings for viewings, not that any old Charlie can turn up and come in? It’s probably better for OP than those 8 viewings spread over a week with constant tidying.

I think some are properly open, in my experience.

DS and his fiancee bought a house a couple of years ago which had sitting tenants at the time. Had they asked me, I would have told them not bother because of the potential for inconvenience and hassle. The tenants were waiting to be housed by the Council, and fortunately they left just before the mortgage offer expired, so all was well.

The only problem was that the tenants left loads of rubbish in the loft. DS was told someone could come in and clear the loft, but he didn't want random strangers coming in, so he accepted an offer of £100 and got got rid of the rubbish himself with the help of DD and a few trips to the tip.

We’ve tried this….we are still waiting for our broker to get back to us with an answer but even not for this house then we are close but still I thought the landlord would at least consider but it is early days so maybe he would I don’t know

No because I wouldn’t want to be a landlord because of the be renters reform laws. Properties that are ‘tenants in situ’ often languish on the market for many months. Being a landlord has always - generally - been a ball ache, now more than ever.

This is exactly what our open house is, 8 booked appointments over a 2 hour period one every 15 mins. My husband will be home and making sure 1/ people take off their shoes and 2/ everything is all in order. I don’t really mind an open house in all that’s going on really, the estate agent said it was either that or sporadic viewings through the week when we both work, kids, and it seemed the better option. After today if it doesn’t work then we can always say we don’t want any more maybe. But the issue is having to move by May not the house actually selling….but after we know about the mortgage we can either make an offer and go from there or at least know….our situation is tricky and we have a specialized broker so it’s not been straight forward but theyve worked their asses off to see if buying here’s an option. We’ve kept the landlord updated but to be honest we don’t have an AIP so the landlord said he will keep the open house and see what happens but from the information I’ve received it makes me want to stay until May or slightly after and see where we are at. Hopefully he gets no offers and then considers us! We asked him to wait 4 months before we made further enquiries and he said he couldn’t….but it may be that time or longer anyway.

I don't know what part of the country you are in @mumof2teentoddler

But in London, it seems common for flats to be for sale with tenants in them - as long as the tenants have agreed the property will be vacant by exchange of contracts.

I viewed lots of flats in London with my daughter about 3/4 years ago and several had a tenant living there, including the one she bought. This may be specific to London I don't know.

Ideally, a property wouldn't have a tenant currently living there however, due to the risk they refuse to move out without legal proceedings.

I’ve been to an open house where more than one viewing group was in the house at one time (with only one agent). I wouldn’t want that as the tenant. What you describe sounds ok.

It's better to have several viewings all on one day than spread out over weeks. The EA often brings small groups of 2 or 3 potential buyers around together. I would think most people would not want to buy a house with tenants in situ just in case they didn't vacate. It often takes 3 months from first viewing until exchange of contracts. You might get lucky and the LL buys the property and you can stay.

Ah ok I’m in the south east Kent - maybe they will get us to sign? Well I’ll say we can’t sign due to what the council have told us…just didn’t want to go down the route of being obstructive and court but like another poster stated it’s our home / areas etc but it’s not that I’m just nice I’m just managing stress levels and wanting to keep everyone settled although I just admit it’s just me out of everyone that’s unsettled. I’ve lost half a stone, I’m stressed, I feel like we are being pushed out of our home and to add more context we live in a village so moving will likely be a brand new town as there are honestly no rentals at all….my daughter turns 4 this year and she is down for the local school 😞my eldest went there and it’s walking distance and a local bus stop for my teen for secondary ( it really IS the dream village ) so I will most likely have to start the school process again - she will be offered her place April, which I will accept then figure out if I can still drive her there from a new town but from what I’ve worked out it may not be worth it. If we leave the village then a new school will probably be a better option. I know she doesn’t know the school and she’s only 3 just that her nursery is attached to it and all the children’l are going there so not much of a transition.

so it is all really pants! Feel so emotional about it all.

So wish vibes of NO offers for me today or no shows and I’ve hidden prawns and rat traps all round the house…I haven’t but this was my thought at 3am today when I woke with anxiety 🤣

You can somewhat influence the outcome of the viewings - your husband will no doubt be asked by anyone who is seriously interested what your position is, whether you have a moving out date etc. If he answers honestly (that you haven't been able to find anywhere suitable to rent, there's nothing on the market in your price range) then that will certainly put off any owner-occupiers!

Its Feb...

A straight forward chain free purchase take 3 months in the uk because its so slow.

Thats 3 months away... so listing now with expectation of vacant posession isnt unreasonable per se.
I would keep looking but ultimately if you cant find anywhere you stay and keep paying rent.

Ultimately you will eventually have to leave so I would start looking and try and find somewhere as its going to be v stressful for all concerned to go down the refusal to vacate route.

Appreciate now the gov has decided to make rentals punative for individuals so the only people with rentals are Blackrock and friends renting such harder this is the (un)intended consequence of that. This is why your landlord is selling.

If hes a decent person I think its remiss off you not to give him a heads up if you cant find somewhere. He has bills to pay too.

This is true, yes wards will be here but he can hopefully get some information in! Was thinking that. It’s only being honest. Wards may just say we’ve been given notice. My Husband seems to think it may not put people off / especially as we have so may viewings but who knows
we are just going over what if situations but maybe when wards calls us or maybe the landlord we can then say we have nowhere to go! As my mum said the landlord just assumed we ARE leaving by end of May - she thinks he’s been too hasty
( by the way our landlord is not an agent, doesn’t have a portfolio of lettings or anything, just seems like a normal nice family man who we’ve always got on well with when he’s come to check property and when he’s sorted things out for us. )
Ie when things have broken husbands always fixed it and done the labour and got him good prices and he says to just take it off the rent ) best landlord we’ve rented off anyway

@SalmonOnFinnCrispi know so this is why I think he has given us longer than legal s21 timeframe as he knows full well it can take that long and by then we keep paying rent and council tax and he doesn’t have an empty housing sitting - so for him it works out, providing me leave. But if sitting tenants puts people off then great! Which was what I was wondering, if it doesn’t then we do need to think about moving which we have, unless anything comes up before May….then it’s just limited options

I’ll keep you all updated ! Husband is expecting an offer from this bunch - he thinks the landlord wants a bidding war ?!

I bought a flat with tenants. I viewed it with them there and we all felt awkward. I didn’t exchange until they had moved out and I’d seen it empty. The owner had filled a million holes and redecorated neutral which was an unexpected but lovely surprise. Would I do it again? Probably not if I had the choice but if it’s a location or block that’s desirable it wouldn’t totally put me off.