Buying a house at auction with tenancy - pitfalls?

C

Carnmore

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Has anyone any knowledge/experience of buying a house at auction as an owner occupier which is subject to a tenancy agreement?

The tenants have been resident for 15 years so they would be entitled to 224 days notice to quit.

According to the RTB website this is a straightforward process but is it usually in practice?

Any advice appreciated.
 
Interesting.

I would expect that you will get a lot of resistance from people who have been living there for 15 years. They could well claim that they have nowhere else to go and they will drag it out. Eventually you might get an order in the Circuit Court. And the Sheriff might eventually enforce it.

On the positive side, this will be enough to put most people off, so you may well get the house cheaply.

I very much doubt you will be living there within the year.

And your new neighbours might well resent the fact that you forcefully evicted such a lovely family who are now homeless.

Brendan
 
Brendan Burgess said:
Interesting.

I would expect that you will get a lot of resistance from people who have been living there for 15 years. They could well claim that they have nowhere else to go and they will drag it out. Eventually you might get an order in the Circuit Court. And the Sheriff might eventually enforce it.

On the positive side, this will be enough to put most people off, so you may well get the house cheaply.

I very much doubt you will be living there within the year.

And your new neighbours might well resent the fact that you forcefully evicted such a lovely family who are now homeless.

Brendan
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Thank you for the insight Brendan.

The auction house has uploaded limited photos - I asked for more but apparently there were 'access issues'; the outside of the property also appears to be well kept so there could be significant reluctance on the part of the tenants to leave.

It might turn out to be a pyrrhic victory..
 
They well be hoping to bid for the house themselves.

If you buy it, they might just abide by the notice and leave, or they may extend their stay and thrash the house.

Brendan
 
Nothing to stop you from "visiting", telling them you may be buying and ask them if they're interested in doing so. Interesting what you might learn?
 
Brendan Burgess said:
They well be hoping to bid for the house themselves.

If you buy it, they might just abide by the notice and leave, or they may extend their stay and thrash the house.

Brendan
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Tarring all renters with the same brush?It is perfectly possible to overstay and keep the house as well as they seem to have for the first 15 years.
 
if you want the house OP and if you could get it at a substantial discount , i think it would be worth the risk , the system is very slow to evict someone if it came to that but eventually you would get the house

solicitors hate those auctions as nothing is ever close to vanilla in terms of title and solicitors hate anything which isnt 100% vanilla when it comes to property , expect to be told to walk away
 
You can overstay without ever doing anything bad to a property.You can of course trash any property at any time.My issue is with you putting the two together,as if one leads to the other .
 
vandriver said:
You can overstay without ever doing anything bad to a property.You can of course trash any property at any time.My issue is with you putting the two together,as if one leads to the other .
Click to expand...

You've quite a vivid imagination if you saw that in what he wrote.
 
I have bought a vacant property at auction which was taken by a bank receiver, it went more than I intended paying but still made sense to buy it, I would not have bought it if it had a tenancy, the process was so slow taking almost a year, I would not risk purchasing with a tenant, not in this country.

I learned from attending these distressed auctions that bargains are difficult to get, in many cases properties sold for more than if on the market in a local window .

You need patience and a good solicitor, good luck with your decision.
 
Update: I knocked on the door of house and an elderly chap answered - I asked if he intended bidding on the house at the forthcoming auction but he politely said "no it's not for sale, we've been here for over twenty years and we'll be here for the rest of our lives".

It was pulled from the auction as the legal documents had not been made available; I wouldn't have been bidding anyway and then evicting the poor gent, regardless of my legal entitlement.

Thank you for that suggestion noproblem.
 
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