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Would you buy blind with sitting tenants?

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  • Would you buy blind with sitting tenants?

    Afternoon all,

    I’m looking at buying a house near me as an investment (refurb / resale), however it’s being sold at auction without allowing viewings…

    So my question is, would you buy ‘blind’ with sitting tenants? And if so, how much would you reduce your offer to cover the extended risks of this situation?

    Ceiling price on street IMO: £80,000
    Guide price at auction: £65,000

    Of course I haven’t mentioned the ‘elephant in the room’ of kicking out the tenants who are paying stupidly low rent.

    Any and all advice welcome!

    Thanks

  • #2
    Re: Would you buy blind with sitting tenants?

    No real advice, only my opinion. I would not buy blind without seeing.

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    • #3
      Re: Would you buy blind with sitting tenants?

      Hello

      I think it is normal in this situation to do your homework on the sitting tennants. for example it may be they are fairly old in which case you may end up with a property without sitting tennants sooner than you think. the kind of people who buy these types of properties are usually quite mercenary and will go to any lenghts to gain info on the prospective tennants, snooping through their bins, getting friendly with their neighbours etc before they buy the property

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