Buying a Property with Tenants

publication date: Jun 20, 2011
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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Buying a Property with Tenants


Q - I am planning to buy a property with tenants - what should I be worried about?

A - There are a number of problems that you need to be aware of, for example, there are no guarantees that the tenant will move out at the end of the two month's notice and if they decide to stay, it can take months to evict them via the Courts. Also, after exchange you normally complete within two weeks - not two months!

Q - I would like a surveyor to go in while the tenants aren't there, but they are saying I cannot do this?

A - With regard to the surveyor going in while tenants are there, that's no different to a vendor being there. So we would talk to the surveyor you are going to use (make sure you engage them directly, not via a mortgage lender) and ask what they would need the tenants to do so they could do a proper survey then request this is done prior to the surveyor making their visit.

READ MORE for this full question and answer and to view all the topics raised on our forum

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