Interested in buying the house we currently rent (valuation)

Ad86

As above really.

We are v.interested in staying put and buying the place, landlord has already expressed interest in selling.

We've looked at other property prices in the area etc, but want to get a good idea of what the house is worth. The landlord has said he will listen to offers, but this isn't a £1000 car we are offering on here, its a house.

Would an estate agent value the house for us? (even though they'd get nothing from it) Or should the landlord be sorting that?

Thanks

G_M

You can leave the landlord to sort out a price and just pay him whatever he asks........

Or you can be sensible!

* search for 'sold prices' on a property website, to find out what other similar local properties have sole for recently. this is NOT the same as what they are advertised for (though that is also a guide).

* ask 2-3 of estate agents to come round and give a valuation. A little discretion and they won't know you are not the owner planning to sell through them.......
Bear in mind agents sometimes over-estimate in order to get the owner/seller to ue their firm rather than another

BlaEm

I'd think this should be something the landlord should be organising - the only way you could get an EA round to value would be to fib and say it's your place.

If you want to organise a private sale, your LL should arrange for 3+ EAs to come and value the property. Based on your research of other local properties, you can then negotiate a price taking in to account the selling fees he will be saving.

Do make sure he's serious about selling the place before you invest your time and money on a purchase. Also, if he rents it to you through an agency, they may have a clause where they have effectively 'introduced' you as a buyer, so would want their commission for doing so regardless.

Thrugelmir

Ad86 wrote: »

The landlord has said he will listen to offers, but this isn't a £1000 car we are offering on here, its a house.

The LL should make the opening move.

Ad86

I did think about the EA "Im thinking of selling my house with you" speech, but then thought it was a bit cheeky, lol

We rent privately from him so no 3rd party.

Sold prices in the same street seem a bit up and down (20K variances between similar looking houses)

franklee

I disagree with the advice above. When you ask an EA to value if they think they are getting a sale then they most often value high so as to secure your business. So I wouldn't want to offer based on three EA valuations unless they had been told why they are valuing it. When selling on the open market if they value too high and it doesn't sell they will then ask the vendor to reduce the price. However if you buy direct the property won't have the exposure to the market that would cause that reduction.

What I'd do is get a RICS surveyor in for a valuation (and if necessary a survey) just as if I was buying any other property and explain to them what the situation is. It will cost you but money well spent IMO and you can use their valuation (and survey results) for negotiation. If you need a mortgage they'd want it valued anyway.

Plus look at sold prices as already said above.

Remember to mention to the landlord that he will be saving on estate agent fees and any void time whilst he sells so he may want to share some of that with you by reducing the price by e.g. half the amount he saves.

Ad86

Any ideas on rough sort of cost for a valuation/survey from a surveryor?