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stillill

Contract Q: Vacant Possession (i'm A Tenant)

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Our (shared) house is up for sale by the landlord, and we knew this. We each (4 of us) have a rolling monthly contract. We are supposed to get and give 60 days notice to leave.

However, for every day less than that two months notice we are given, we're given £10 compentation (in case the landlord needed us out quick to secure a sale, which is understandable).

A caveat in the contract regarding the £10-a-day refund reads "Unless the property is sold and the landlord requires vacant possession".

Now, we've just been given notice of 42 days because a prospective buyer doesn't want to exchange contracts until we are out. From this I understand that the property is not yet sold, just that the prospective buyer would buy it if it was empty.

To me it looks like I would still be able to claim the landlord pays £180 back in agreed "short-notice compensation". Or have I missed something?

I've never bought/sold so can someone please explain at which point a property is regarded as "sold"? Also, "vacant possession" just means the landlord wants the house back, empty, doesn't it?

Thanks

Edited by stillill

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Even with the caveate, the general incentive or offer of the compensation is to help the landlord to sell his property. If you oblige him I think you have a good case to make sure he obliges you by fufilling his offer of compensation should he decide to not keep his part of the deal. I wouldnt delay leaving the property as you have to give him the benefit of the doubt or prove you wrong.

At the end of the day it serves nobody for you to hang on in the property past the leaving date. It is worth finding out when he intends to pay the compensation though, ie at the time your deposit is returned or when he recieves the funds from the sale of the house, bearing in mind the sale could fall through and then he has no funds and no rental income.

Thanks for the reply Mr Rose. Yes, we get on well with the landlords and don't intend to stay past the leaving date/cause grief. I was just a little unsure of the jargon in the contract, but I get what you are saying.

Yes, he is taking a risk asking us to leave before it's sold (and it's taken almost a year to get this one interested party!), but I guess they are pretty desperate to off-load it so can't blame them.

It's a great 5-bed house in a cruddy area (gun crime, drugs, prostitution, terrible schools, but good transport), opposite a late-license pub, but someone wants to pay him £535k for it.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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