My thinking is that family member should assume worst case, put a figure on it and add that to the purchase cost & see if the numbers still stack up.
My initial reaction was don't touch it, but your summary is a much better approach:
Most people will be put off by the uncertainty which should be reflected in the price.
Call to the house outside the viewing time and talk to the tenant.
Brendan
Family member looking at purchasing property at auction; legal pack is being reviewed.
Property is listed as tenanted, terms unknown.
No finance required for purchase.
Intention is that it will be their PPR; they will follow the procedure re notice etc., when Covid restrictions lifted.
My question is, how 'bad' could it get?
If tenant overholds, next step PRTB? How long before they make ruling?
Tenant doesn't leave, then court order? Approx cost?
Who enforces the court order? Is there a cost to that?
My thinking is that family member should assume worst case, put a figure on it and add that to the purchase cost & see if the numbers still stack up.
If you were the tenant,would you discuss anything with some random person who knocks at your door ?
If there was a life interest - would that be in the legal pack? Or should that be disclosed by vendor?What if the tenant is a sitting tenant who is allowed stay there till death ?
If you're asking me what the Solicitor cost prior to auction is; I honestly don't know - it might vary depending on the property.Op could I ask the cost too review the legal pack prior too auction ?
Depends. If I thought the guy might be my landlord I would have a chat with him.
Even if you are not prepared to talk, the tenant might.
Brendan
but the legal process should be clear / quantifiable?
Is there a likely estimate of what it might cost to evict a tenant?
it really depends on who answers the door.it could me mr nice guy or mr big time trouble
Fair points.Why should it, how would suit the legal profession.
No, there isn't.
In most cases, despite what you might think, when you give a tenant notice they leave within the notice period.
In a worst case scenario there is no limit to the legal costs involved. Look at the case in Roscommon recently, that must have cost in the hundreds of thousands. And that was a mortgage defaulter, a tenant might have an even stronger position.
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