Requesting buyer's phone number from EA?

QTPie

We are currently selling our house to an investment buyer. Exchange should take place this Friday, completion 2/3 weeks after that.

We are now hoping to rent back from the buyer. Early in the process he "expressed an interest" (through our EA) in doing that. We have played coy (as well as looking at other rental properties in the area) since: saying yes we might be interested, but nothing for certain. We would make good tenants since we would be here from day one AND we have lived here for 5 years and it is immaculate...

Our EA is also a letting agent and one of three that have quoted for letting this house. I have all three quotes too (£1350 from our EA, £1500 from another, £1800 from a third - quite a spread!). Our EA is now back peddling a little and saying that they may have "undervalued" it :rolleyes: . Interestingly, though, today an identical property (same estate, same exact size, same spec give or take a hob and a shower screen possibly and don't know if it is an immaculate as ours...) has come on the market for £1400pcm.

With there being an identical property on the market, this may be an advantage, BUT the Buyer (a very savvy local businessman) would be aware of the potential benefits to us of not moving too (hassle/cost)...

So the plan is, the MINUTE we exchange contracts to phone the buyer DIRECT and talk to him to try to negotiate something. I dont think that our EA can be considered "independent" in this matter...

I have a home number for the buyer (through online directory enquiries - since I have his name and address), but a mobile number would be better.

Is it acceptable to ask for the buyer's mobile number (from our EA)? Any other advice on negotiating this rental?

Thanks
QT

JayZed

I'm confused. You start by saying "We are not hoping to rent back from the buyer." Is that a typo?

QTPie

JayZed wrote: »

I'm confused. You start by saying "We are not hoping to rent back from the buyer." Is that a typo?

Sorry!

"We are now hoping to rent back from the buyer." (was meant to be)

Will go back to the original and edit it from not to now...

QT

Conrad

The EA will have to ask the buyers permission to hand the number over to you what with data protection

silvercar

Don't involve the EA, they will grab commission if they can, something which could be passed to you in a higher than otherwise rent.

Either use the home number or ask your solicitor to tell the buyer's solicitor that you wish to make contact.

QTPie

That sounds like a VERY sensible idea...

Will ask my solicitor to sort it out.

Thanks to Conrad too

QT

silvercar wrote: »

Don't involve the EA, they will grab commission if they can, something which could be passed to you in a higher than otherwise rent.

Either use the home number or ask your solicitor to tell the buyer's solicitor that you wish to make contact.

sarah_elton

Hi QT - you may remember I've recently sold and now rent from the purchaser.

Going through your solicitor is a good idea. They can also check the tenancy agreement for you if you like to check it's all standard. You want the agreement signed in advance of completion, to make sure you have the right to the property from completion day (as opposed to him going yeah yeah yeah on the phone then chucking you out with very little notice!).

Alternatively, if you want to contact him direct and aren't sure he'd appreciate a direct phone call, maybe write a letter? You could set out that you'd like to rent on a standard 6 month AST and offer £x per month.

Only you can judge whether you'd be willing to pay a little extra for your property rather than move to another. £50 a month extra is probably worth it if you're only planning on renting short term. £100 a month over a six month tenancy maybe not... Our buyer was very fair and rented to us at normal market rate for one our flats. Bear in mind that although he knows there's a benefit to you, there's also a big benefit to him. Firstly, in having a tenant from completion day which he won't otherwise, and secondly you're much more likely to look after the place than a random tenant off the street. Good tenants are worth their weight in gold to landlords so don't be put off negotiating with him.