In summer last year we agreed a sale to a Local Authority (LA) under the tenant in situ scheme. Its best we don't name the LA.
When the sale was agreed, we extended the tenancy informally in good faith while the conveyance was ongoing. This potentially has major implications for us now.
The sale process is going nowhere. If the sale collapses or we pull out, we would like to be able to immediately begin the over holding process rather than have to serve notice and wait another 6 months plus. We don't know where we stand on the now expired notice to quit.
The RTB gave us conflicting advice. One person said to me on the phone that we could move to overholding stage and another who replied to email we had sent prior to ringing them said we had to serve new notice. They did also add it was a grey area or unusual circumstances and were not certain.
We just want to sell the place and are really frustrated by the amount of time that has passed through no fault of ours. If it was a private sale we would have pulled out long ago.
Due to the extended time this is taking, can we withdraw acceptance of their offer ask they pay current market value?
The price they offered was below a professional valuation at the time. We agreed to sell on the basis they said the sale would close in 12 to 16 weeks. We are now at week 40.
There are no title issues and everytbing the LA require has been supplied. They just won't sign.
We feel the LA know we don't have the option to sell on the open market with a tenant in situ and they are in no rush to own the relationship with the tenant directly.
We would like to know how far we can push the LA on sales price and if it fails, how to proceed with getting vacant possession (go to overholding process or issue a new notice to quit)
Thanks for reading a long post. I tried to be as concise as could be
When the sale was agreed, we extended the tenancy informally in good faith while the conveyance was ongoing. This potentially has major implications for us now.
The sale process is going nowhere. If the sale collapses or we pull out, we would like to be able to immediately begin the over holding process rather than have to serve notice and wait another 6 months plus. We don't know where we stand on the now expired notice to quit.
The RTB gave us conflicting advice. One person said to me on the phone that we could move to overholding stage and another who replied to email we had sent prior to ringing them said we had to serve new notice. They did also add it was a grey area or unusual circumstances and were not certain.
We just want to sell the place and are really frustrated by the amount of time that has passed through no fault of ours. If it was a private sale we would have pulled out long ago.
Due to the extended time this is taking, can we withdraw acceptance of their offer ask they pay current market value?
The price they offered was below a professional valuation at the time. We agreed to sell on the basis they said the sale would close in 12 to 16 weeks. We are now at week 40.
There are no title issues and everytbing the LA require has been supplied. They just won't sign.
We feel the LA know we don't have the option to sell on the open market with a tenant in situ and they are in no rush to own the relationship with the tenant directly.
We would like to know how far we can push the LA on sales price and if it fails, how to proceed with getting vacant possession (go to overholding process or issue a new notice to quit)
Thanks for reading a long post. I tried to be as concise as could be
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