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Oakdene (Landlord) In Administration - Where do I stand?
chrishill16
Posts: 30 Forumite
Hi all,
I've been a regular visitor to the forum for ages- this is the first time I've ever needed to post though!
I moved into my 'rent to buy' flat in Sept 08. The rent to buy scheme allows me to make an offer to purchase the property after either 6 or 12 months with all rent paid over that period being offser against the asking price.
Oakdene, the developers, have recently gone into administration which leaves me with a couple of questions...
1) Can the administrators sell the property from under me? I'm assuming not, but any help here would be great.
2) The asking price when I moved in was 210k. Pre-administration similar the asking price dropped to 175k. Would it be worth my while putting in a cheeky offer well below the most recent asking price? I'm thinking around 135-150k.
There are 12 flats on the development, 5 of them have been let (they've been available since August) and only 1 has sold. Oakdene are obviously in a fair bit of trouble, so do you think the administrators are going to look favourably on a cheeky offer?
Any help you more experienced money savers could offer would be very much appreciated. Many thanks for your time.
All the best,
Chris
I've been a regular visitor to the forum for ages- this is the first time I've ever needed to post though!
I moved into my 'rent to buy' flat in Sept 08. The rent to buy scheme allows me to make an offer to purchase the property after either 6 or 12 months with all rent paid over that period being offser against the asking price.
Oakdene, the developers, have recently gone into administration which leaves me with a couple of questions...
1) Can the administrators sell the property from under me? I'm assuming not, but any help here would be great.
2) The asking price when I moved in was 210k. Pre-administration similar the asking price dropped to 175k. Would it be worth my while putting in a cheeky offer well below the most recent asking price? I'm thinking around 135-150k.
There are 12 flats on the development, 5 of them have been let (they've been available since August) and only 1 has sold. Oakdene are obviously in a fair bit of trouble, so do you think the administrators are going to look favourably on a cheeky offer?
Any help you more experienced money savers could offer would be very much appreciated. Many thanks for your time.
All the best,
Chris
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