Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
QUICK SITUATION REPORT.
I am renting a 4 bed flat as a 5 rooms as the living room has been partitioned to create a room and there is a separate dining room for all.
There is 5 tenants.
1 bathroom WC.
1 Toilet WC.
This is where I am in my situation with the Council. My fault as I have not licenced it as I was in the process of selling it. I didn’t tell them that at the time (which was a mistake I now know thinking they would come down on me like a ton of bricks thinking I’m kicking out tenants due to licencing etc). But in reality I simply cannot afford to run this.
Subsequently 3months down the line (1weekago) They did a RAID this the best way of describing it as they literally came in 3-4 of them and started barging into rooms, one of my tenants was in his underpants etc. Anyway they did the usual told the tenants NOT to pay me rent as I’ve not licenced the property etc etc. Now that advice will LOSE me the flat as iIm paying £3.6k a month in payments AND already there is a SUSPENDED POSSESSION order which occurred when the last tenant drove nearly all of the flatmates out of the flat and literally thought he OWNED the flat. He has now left.
The rent being received is £3k.
I have found a buyer who is buying with TENANTS in situ he has met the tenants and is happy etc to keep them on. Now the sale is with LEGALS and a valuation has been booked for this week.
MY CONCERN NOW IS – can the council stop the sale from going through. I have explained to the buyer about my situation – he said he will licence the flat upon completion. I told the council this and they said that they would STILL PROSECUTE ME and to wait for the documents. I asked for an extension which they said I need t o apply for but THAT they would still prosecute me AND FOR ME TO STILL APPLY for a licence.
Please can anyone advise me as to what I should do.
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