Landlord Wants to Sell us House - Advice needed please

Craig1

Tassotti wrote: »

In my opinion..bull...s.t post wasting all our time..Would never happen....

Unfortunately everyone is entitled to an opinion.

This is a proposal that was raised by our LL today. I wasn't sure if it was at all possible, from what I gather it is as long as the legalities are sorted out.

There are many schemes in the market place for Rent to Buy, with the current economic climate houses are difficult to sell and this would be a guaranteed income for the LL and then her daughter for at least 25 years.
Personally I belive that she doesn't trust her daughter to receive such a large sum of money and then act responsibly with it. This may be a way for her to guarantee an income for her daughter untill the grandchildren have grown up.

There are many reasons why a LL would want to this.
It is not for me to question her motives, nor is that the topic of this post.
I just want to know if it is possible and how would we go about it.

The LL has had the property in her possession for 25+ years so it owes her nothing really.

franklee

She is getting on a bit yet is going to give you a loan like a mortgage which is usually over 25 years

What on earth do you do when she dies

franklee

Craig1 wrote: »

Personally I belive that she doesn't trust her daughter to receive such a large sum of money and then act responsibly with it. This may be a way for her to guarantee an income for her daughter untill the grandchildren have grown up.

Nonsense, what if you want to sell up. Then the lump sum would be generated by your buyer getting a conventional mortgage. Unless they would be tied into her loan too?

Craig1

As I said my question is not why but how

RobertoMoir

Craig1 wrote: »

Unfortunately everyone is entitled to an opinion.

This is a proposal that was raised by our LL today. I wasn't sure if it was at all possible, from what I gather it is as long as the legalities are sorted out.

There are many schemes in the market place for Rent to Buy, with the current economic climate houses are difficult to sell and this would be a guaranteed income for the LL and then her daughter for at least 25 years.
Personally I belive that she doesn't trust her daughter to receive such a large sum of money and then act responsibly with it. This may be a way for her to guarantee an income for her daughter untill the grandchildren have grown up.

There are many reasons why a LL would want to this.
It is not for me to question her motives, nor is that the topic of this post.
I just want to know if it is possible and how would we go about it.

The LL has had the property in her possession for 25+ years so it owes her nothing really.

You really need proper legal opinions rather than bar-stool lawyering from the likes of us on this one. Anything people say here is irrelevant; even if someone makes a useful comment on the general points you need to worry about, this will need to be filtered through the precise circumstances of you and the seller and none of us here know all of those.

Having said that, if it feels good and your solicitor doesn't fall off their chair and pass out from laughing so hard they forget to breathe, do it.