General Chat, Products & Comps <
06/07/2013 at 15:47
I'm a little bit sad even though I knew we would never return to it one our time was up here. The tenant is being offered the first right to buy it but if he declines he has 2 months notice and it'll be on the market within the week. Eek! Has anyone ever sold a house that is tenanted? It concerns me slightly!
06/07/2013 at 16:48
My sister has a few properties that are rented and she has currently on the market a couple of properties but she doesn't have any tenants in them she got rid of the tenants before putting them on the market so the properties could be repainted etc for potential buyers to view in a better state. Some tenants can/could put potential buyers off but I guess it depends on the tenant you have. My sister had to threaten one tenant with a court order to move out, so unfortunately not always straight forward.
Fingers crossed for you that the tenant either buys or they move out no problem. It would be easier for you (being so far away) if the tenant buys as then you won't have the hassle of any work that needs to be done before it can go on the market. I rent a property out and the current tenants have just moved out after almost 3 years we have been to clean the property and it is now ready to painted... Every where.
Must be sad selling it, I know I felt the same when we sold our previous house x
06/07/2013 at 17:23
Oh goodness Yoyo, that's not good! We don;t want to throw him out (yet). He has been in there for 2 years and has never caused us a single problem. I'm hoping anything we need to do is just cosmetic. We have told him that he has 2 months to leave if he doesn't want ot make an offer to buy but are happy to end his contract if he wants to go before. I feel we are being reasonable. I'm anticipating costs to sell- the garden will need sorting as a start, but hopefully not a huge amount! The last time I sold a house, the tenant moved out before any viewings took place and I was there to ensure it was spotless!
06/07/2013 at 17:51
Yes that is very reasonable of you, I was lucky that our tenant that has just moved out gave us 2 months notice so we have had the property marketed and there is lots of interest. Sounds like you have a good tenant so hopefully no problems for you
06/07/2013 at 20:47
Yes, we've had ours on tenanted. One girl had so much stuff you would not believe it. Made it look smaller. But I think people struggle to envisage a house with furniture if its totally empty so in some ways it's easier to sell with someone in it. Will be good if your tenant buys it. We gave our last tenant the same option re contract which they took up, sale is taking ages so no we've been paying out 2 months and counting!
07/07/2013 at 04:50
This worries me WH. If the tenant moves out before we sell, we also have the mortgage to continue to cover. That's a big dent in our monthly income! Our agent seems to think it won't take long to sell but I don't think anyone can ever really predict that.
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