Buying property with tenants

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E
Eranga
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Hi

Can I purchase a property with tenants in it who are on a rolling contract with the current landlord/vendor under an AST and then once purchased would I be able to evict the tenants?

The issue here is that the vendor wants to get rid of the property with the tenants but I'm not prepared to sign a new AST as they seem evasive and trouble. As the deal is good, I'm prepared to buy this property as long as I can issue section 21 ans if need be Court proceedings but I'm unlear as to whether I can proceed with that process when the AST is not with me but with the current landlord/vendor. The vendor is prepared for my lawyer to hold a 2000 retention. The rent is 450pcm and mortgage will be 130pcm.

Is the AST transferable on sale of the property? If I sign a new AST, then I will be committed to minimum of 6 months which I do not want to do. If I go on that route and if the tenant breaches by not paying rent from month one, then can I evict them prior to six months? If it is tricky to respond via email, I appreciate it if you can please contact me on 07780673256.

Thanks

Eranga

16/03/2013 00:00

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