I have sold a property with a tenant in place. Do I need to serve any notice or inform the tenant? Also do I unprotect the deposit on completion and then it is up to the new owner to re-protect it within 30 days? Their solicitor has asked for a letter from me to the tenant with the following information:
“confirming sale of the property to xxxxxxx and authorising all future rental payments to be made to the buyers, or as they may direct:
1 Comment
Yes, you need to inform the tenant upon completion. In addition to the suggested text, you should provide the name and address of the buyer.
The deposit can be unprotected and provided to the new buyer. They should be advised to protect within 30 days but it will be their problem to do so. Commonly the deposit is deducted from the sale price by the buyer so watch out for that (so they don’t get it twice).