Selling rental to tenant who has to wait 6 months

Colin4444 said:
My kindness may kick me in the behind... I know..

I think they are genuine.. for now.. I will take advise from here and open dispute when they overstay after 30 May, and inform tenants why I am doing so i.e. just to follow rules and they have to be out by end of October latest, mortgage or no mortgage...
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Having read most of the comments on the thread specifically the above the following thought came to mind

You have fallen into the trap of letting your heart dictate over your head. Renting/selling is a business nothing more nothing less. Ask yourself a question would the tenants pay above market purchase price?

Ultimately how you progress is your business. I hope whichever way you progress works out exactly how you want it to.
 
The Horseman said:
Having read most of the comments on the thread specifically the above the following thought came to mind

You have fallen into the trap of letting your heart dictate over your head. Renting/selling is a business nothing more nothing less. Ask yourself a question would the tenants pay above market purchase price?

Ultimately how you progress is your business. I hope whichever way you progress works out exactly how you want it to.
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I am fully realising that now... nightmare.. I'll just have to leave it to fate for now and hope for the best...
It is gonna be such a relief to get rid off at this stage..
Off on a once in a lifetime holiday with some of the proceeds when its all over... A trip to Antartica, then I will have been on all continents in the world :) One off the bucket list...
 
Colin4444 said:
am fully realising that now... nightmare.. I'll just have to leave it to fate for now and hope for the best...
It is gonna be such a relief to get rid off at this stage..
Off on a once in a lifetime holiday with some of the proceeds when its all over... A trip to Antartica, then I will have been on all continents in the world :) One off the bucket list...
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The best of luck with the whole situation and enjoy a well deserved break once it's all over.
 
OP I think as well in a situation where the family dynamic has changed dramatically (one of a set of parents returning to the workplace) sometimes these things can result in a reset to the old way. Maybe this was always their plan that one of them would stay home in the early years, but how sustainable is the new job in terms of commute, income v childcare and disruption to family life. Is it likely to continue for the time you need it to sell the house? None of this is really anyone's business but in this case you are doing your own due diligence on how likely this sale is to complete, and it is prudent for you to understand the reality of how the funding will happen. Just like some sellers prefer a cash buyer or someone not in a chain.

I really hope this works out for this family and they get to enjoy owning the home they have been living in. But responding to you as the seller, understand the potential outcomes.
 
Colin4444 said:
I have given my tenants NoT last October, their eviction date is 30 May 2026.
I issued the NoT via a solicitor.
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AFAIK the eviction period is a minimum not a target so presumably nothing to stop you removing it and issuing a new one with a longer notice period? That would allow for the tenant purchase option and if things were actually progressing the sale might complete before the eviction date, and worst case, if they don't get their mortgage sorted out, they would still have a few months to sort things out?
 
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