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 still early days and Im just surprised that after hearing the MANY questions one of them wasn’t when are the tenants leaving ? As even the landlord doesn’t know that…he doesn’t know our plans and we will be telling him it won’t be before May unless we find somewhere….he doesn’t know we may not leave by then, just implied he wants a ‘ quick sale ‘ so we shall see….

Is it below market rate?

The agent may well have told the viewers about the tenancy situation when they rang up to book. Or the viewers asked it out of your earshot, to be polite.

And the answer to “when are the tenants leaving” is “they have been issued with a section 21 dated 15th May but may leave earlier if they find somewhere”

May - even if it is the end of May - is only 3 and a bit months away. That’s not an unreasonably long timeline to complete a sale from viewing to moving in, especially if the purchaser is in a chain)

Oh what a stressful situation for you. Has your broker come back to you yet to see if you can put an offer to your landlord?

I would say it is yes

Not yet but I’m thinking already it’s a no….i still feel we have lots of hoops to jump through and would maybe be better to come back when mortgage ready…pains me to say but im feeling so so stressed and trying to get a mortgage though as this stage will be so stressful…. Not that i want to lose the house but i also feel im not coping well in general at the moment

In that case any prospective buyers are keen as it still allows them to financially deal with any delay to them gaining occupation.

True they just don’t know if we will leave is what I mean. Although we aren’t going to do that but they don’t know we are nightmare tenants but I guess that’s the risk and some people it won’t bother them

I’m so sorry that this is all getting on top of you. I’d be the same. Hoping for positive news soon 🤞🏻

I am a landlord myself - I wouldn’t sell a property with a tenant in situ unless the tenant is buying the property itself - it can cause complications. I also wouldn’t buy a property with a tenant in place that to add to my buy to let portfolio if the tenant is paying ‘underpaying’ - Every situation is different - one landlord may be mortgage free, the other one not… so rent would inevitably be increased.

For people not currently involved in letting or renting (ie straight buyers), they may not be aware that it isn’t always as simple as “give correct notice, tenant moves out at end of notice period” - I certainly only learned that on MN as was previously involved in two house shares where we just found alternate tenants if people left and then renting with DP, where we gave notice after finding a place to buy.

That’s very true

This is ridiculous - a potential tenant would view a house people in situ - if they didnt the rental market would be in an even worse state if no-one could view with someone in situ. A ridiculous and pointless stance to take in what has otherwise been a good contract. Why make things unnecessarily difficult for people. Boundaries can be put in place to keep it fair and less stressful for the tenant.

Imagine a market where no-one had viewings, for lets or sales, due to the place being occupied and having to wait for u occupied. The market would grind to a halt.

Very different buying somewhere where the owner lives and is moving out.

I would also avoid buying a property from divorcing couples. There is always one party wanting to scupper the sale in revenge.

I did exactly that yes

We’ve always waited until tenants have left before advertising it for rent. Never a problem for us at all - always re-let very quickly. But then we like to treat tenants as we would wish to be treated.

@GETTINGLIKEMYMOTHERhes selling not re letting