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Buying house with sitting tenants

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    #32
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    johndaman66 wrote: »
    the_syco wrote: »
    Chances are it won't get sold. If this happens, perhaps approach the owner, and offer X amount and you make the vacant possession a condition of the sale. I'm thinking that the owner couldn't get rid of the tenants, and thus the property is now for auction.
    I don't particularly make sense of this comment the_syco. If the owner had trouble getting rid of the tenants and thus decided to go to auction how would it be the case that the owner then could all of a sudden get rid of the tenants after it fails to sell at auction. While I see the angle you are approaching from why encourage somebody to waste their time, energy and potentially money (surveys, contracting solicitors etc.) if you believe there is trouble getting the tenants out.
    Chances are that the bank has forced the owner to sell, and the owners selling with the tenant still there. If the owner didn't sell, the owner will have to continue to pay the mortgage. Offering the owner X amount on vacant possession may encourage him to get rid of the clients.

    Oh, and you're quoting something I said three years ago.
    goat2 wrote: »
    If I buy a house with a five yr sitting agreement which is coming to an end in a few months, and I have just bought this as my home and principal residence
    If the lease was coming to end "in a few months", why not sell then? Why would the tenant leave? Have they even been paying rent? It may take you a year to evict them.


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    #33
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Goat2, getting a tenant out will be a test of resolve, patience and finances. Particularly one who has been there for 5 years and may have kids in school/made friends in the area.

    Theoretically you would be able to give notice that you intend to live there, in reality they can ignore the notice and literally stop paying rent. You may then have to go to RTB and even court to get an eviction. If the owner wants to sell, tell him/her that you will only buy with vacant possession, you can be sure that every other buyer is insisting on it.


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    #34
    johndaman66
    Registered Users Posts: 4,097 ✭✭✭johndaman66


    the_syco wrote: »
    Chances are that the bank has forced the owner to sell, and the owners selling with the tenant still there. If the owner didn't sell, the owner will have to continue to pay the mortgage. Offering the owner X amount on vacant possession may encourage him to get rid of the clients.


    Okay so your approaching it from the point of view that if the OP were to approach the owner after the auction that owner may level with the OP and tell them the bank forced them to go to auction, not wasting anymore of their time?... assuming you do mean clients there as opposed to tenants?
    the_syco wrote: »
    Oh, and you're quoting something I said three years ago.


    I know. I made the comment from the point of view of anybody reading the thread who currently found themselves in a similar situation....


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    #35
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    johndaman66 wrote: »
    Okay so your approaching it from the point of view that if the OP were to approach the owner after the auction that owner may level with the OP and tell them the bank forced them to go to auction, not wasting anymore of their time?... assuming you do mean clients there as opposed to tenants?
    The owner may not care much about the house. Giving them an answer to their financial troubles may incentive the LL to get evict/bribe the tenants to leave.


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