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Landlord selling - what kind of offer can I make?
Comments
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I'd just find out what they are looking for. And go from there.
Get an AiP to see how much you could get as mortgage. If the AiP matches what the landlord is looking for or more, make an offer to match the asking price if you think their asking price is what the house is worth or below the asking price and negotiate with them based on the fact that you'll save them a lot of time in finding a serious buyer, and maybe even a bit of money on agent fees.
They may be very happy about the idea, some friends of ours have just bought the house they were renting, at slightly less than the market price and both buyer and seller were very happy with how smoothly everything went.
But starting point is definitely asking them how much they want.0 -
timefortea wrote: »No, north of England. Somewhere unfashionable.
The rent is £425.
@5% gross thats £102k
£60k thats 8.5%
If it is good nick so low maintenance £60k is likley to be on the low side for interested investors.0 -
A lot of ex council houses are snapped up for £60k or so, here. Often buy them without visiting, just getting a contractor to give a cursory check. They do them up cheaply and rent out for £500pcm - seen a fair few sell that way.0
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