Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
I have just bought the flat from auction which is due to complete in two days time.
It was was advertised as subject to short hold tenancy with £1,500 rent but after contacting the agency managing the tenancy, they are saying there are tenants (2) in the flat with short hold tenancy paying £750 rent together.
The sellers solicitor says that as I have already signed the contract and paid a 10% deposit I must complete.
Apparently the council is paying rent for the tenants. I m not sure who’s right. I live in the North West and this flat is in London so I will be needing someone to manage it for me.
The incumbent agency said there is no deposit from tenant. I’m not sure where to go from here as I thought there was rental income of £1,500 but as it turned out only £750. My solicitor says I can not back out now.
Can someone advise me how to deal with this situation please?
I have concerns that the managing agency might be getting £750 for each tenant but lying to me.
How do I take control of the tenancy and find out the facts before starting eviction?
Can I directly contact council to find out the rent?
Thanks in advance for your time.
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