I know it is a bit off topic, but just curious to know.
so i am buying a property to live in and the property is currently not vacant but will be sold as a vacant possession.
I understand there is section 21 eviction that takes months, so does it mean if the worst situation happens with a bad tenant, will i only able to complete the buying process when tenants are gone after months when section 21 is sorted or it can be a short cut given it is a new purchase?
any suggest helps! I was just trying to complete before the stamp duty holiday deadline.
Also, if you think it is too late do let me know as well so i can adjust my expectation
It means you will have to wait for the tenant to move out. You should be aware that a s21 notice doesn’t compel the tenant to leave, and if they make the landlord take them to court, it will take around 18 months on current estimates from the date the notice is served.
yes, what they said above. an extra point maybe dont even exchange contracts until its empty. completion can be quick after exchange. if you exchange and hand over some money that could be problematic
The estate agent was saying they have the tenant gave a leaving date on the 24th June, Do you think it is legit? Is there anyway to check it? It is annoying the agent is withhold information and give you little.
I echo Colin3. They are not legally required to go without a bailiff order, as was mentioned before, if they decide to dig their heels in or cannot find somewhere suitable to go to, it could be 18m.
Don’t count on anything I’m sorry to say.
If the company is also their landlord, you just have to make sure that all notices and legal documents are signed in accordance with the Companies Act. The rest is the same.
You need to know when the notice was served - at the moment the minimum notice is 6 months and even then there is no need for the tenants to move. I wouldn’t exchange until it is actually vacant.
If the property is sold with vacant possession, and tenants are still there on completion, surely this would be breach of contract by the seller and you would have a legal claim for damages against the seller? I would make sure the contract is watertight before you sign anything. Or get your solicitor to add to the contract that the seller pays you a sum if the tenant hasn’t vacated by completion. (A friend is currently in this situation (as the seller) and that is what his buyer has done). It is then in the interests of the seller to pay the tenant to move out before completion or pay you compensation. Your solicitor should be able to advise you.
i would be more worried as to whether the tenant would damage the place before leaving. When buying I always check a place is still o k the day before exchange. But then I would always want a place to be empty of people as well.
My partners in the opposite situation - hes selling and has been advised to get the tenant out first. It all depends on the tenancy terms , provided the Landlord has deposit and paperwork all correct. Then if theres any breach of contract on the tennant`s side, in this case, 6 months rent arrears, I believe the tennant can be served Section 8 which is quicker. All cases are different so the landlord needs the solicitor to advise.
