Offering my landlady to buy her out....

larochelleuk

Hi,

I currently rent a flat. There have been a few slips-of-the-tongue from the landlady suggesting she might be selling it this summer.

I'm considering offering to buy it. I would have the major advantage that I am already living there, so no turnover period; our relationship is 'nicer' so we could trust each other not to withdraw before completion (touch wood)

If I suggest this to her I want to have the pros and cons under my belt, so can anyone tell me if there are any other advantages or disadvantages? (I'm a FTB)

I assume then that they would get landlords around to value it and set an asking price. I guess the disadadvantage to me buying it from their perspective is that they may have been able to get more from someone else. Similarly if I were to choose a different place to buy it's possible I could make more money (i.e. with a different home in a different location).

My friend offered to buy her landlady's flat; it all went pear-shaped. Having suggested the idea in the first place, she ended up losing the flat as the landlady found a better offer. In my case I think she's selling this summer anyway so it's not a major concern.

I'm not entirely sure what I'm asking, but if anyone has any ideas or thoughts, or can think of other pros and cons I've not thought of, I'd be very interested to hear.

Thanks!

xx

angchris

i say if the flats gonna go on the market anyway and you sound like you are happy there what have you got to lose by offering her a decent offer, i must say though dont go into this if your only reason is you cant be bothered to move, make sure the decision is right for you as its a big commitment. if it all goes wrong then you would of had to of moved out anyway once its sold. why dont you make the first move and get yourself an appointment with a mortgage advisor get your offer of a mortgage from them and then you know exactly what you have to play with, then you can take it up with your landlord from there. by buying from a "friend" you can cut out the associated costs of going through an estate agent and it should in theory be a cheaper option for both of you.