0:04 AM, 8th February 2024, About 3 weeks ago 9
Hello, We are slowly (and thankfully) escaping the world of rental properties after almost 20 years, which involves selling our portfolio of 13 properties. We haven’t had the best advice and went with the wrong agent with the wrong “fixed price” option, but we are back on track with an alternative for some of them.
Understandably, most buyers want vacant possession so there have been several notices served and a painfully long wait as the Council advises tenants to stay put until the Bailiffs come knocking.
We are at the final stages with one S8 and the estate agent’s solicitors have just applied for a Warrant of Possession. BUT we have just received news that the buyer for this property is fed up with waiting (seven months so far) and has withdrawn from the sale.
He gets his deposit back, but we get nothing and have to start all over again.
The issue we have is that another marketing/sale/conveyancing process is going to take a further 16-20 weeks and if the Warrant of Possession is executed in the next couple of weeks, that’s a long time to be without rental income on the property.
On top of that, because our current agent covers their solicitor’s eviction fees as part of the deal, they are saying that if we choose to go with a different agent (which is likely because it will probably be sold for more) we will have to re-pay all the eviction costs.
I have read that a Warrant for Possession is valid for 12 months, but I have also read that when you (or the solicitors) apply, if granted the Court sets an eviction date there and then.
Can anybody give a definitive answer as to whether the Bailiffs can be delayed?
The tenant is in arrears (by quite a lot) but at the moment, the rent is being paid direct by the DWP and she is chipping away at the arrears. A delay might be useful for both of us.
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