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advice please on buying the house we rent from a private landlord.

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Comments

  • 8-of-us
    8-of-us Posts: 157 Forumite
    thesaint wrote: »
    It always makes me laugh when I hear people ask to find out what the previous owner paid for the house.

    If they paid £450 for it in 1959, then they will surely accept ten times that price now shouldn't they?

    Glad to make you laugh, but it was only from my experience I asked as it was relevant to us as the owner had got into some financial bother and had to clear the mortgage on it. Ok, so not relevant on something from 10 years ago but its no harm in knowing these things.
    Sealed Pot Challenge - #462
    I used the Thanks button as a Like button too :)
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    The ex-tenant/now-buyer would have vacant possession from the vendor/ex-landlord on completion, as there would be nothing of the vendor's remaining in the place.

    I'd go along with the consensus here - ignore Zoopla's silliness. Ignore your past rent. Go with £160k as a benchmark, and aim at paying £150k - so a £10k discount to reflect the reduced costs and hassle.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    8-of-us wrote: »
    Glad to make you laugh, but it was only from my experience I asked as it was relevant to us as the owner had got into some financial bother and had to clear the mortgage on it. Ok, so not relevant on something from 10 years ago but its no harm in knowing these things.
    So the relevance wasn't in using their purchase price to calculate the current value, but in them being able to clear their debts.
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    HappyMJ wrote: »
    Quoted message did say "probably"

    Exchange commits both sides to complete, the buyer may be an owner occupier the mortgage conditions requiring vacant possession on completion. To guarantee vacant possession the tenant should be out before exchange of contracts. Of course if the buyer is an investor there's no need to leave as a new tenancy agreement can be set up with the new landlord.

    If they're buying it to live in, I can't see why they would need to move out - on completion, they would stop being tenants and possession would automatic. They can hardly overstay on their tenancy!
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ViolaLass wrote: »
    If they're buying it to live in, I can't see why they would need to move out - on completion, they would stop being tenants and possession would automatic. They can hardly overstay on their tenancy!



    I think they're comparing it to what the landlord would have to do if the OP wasn't buying i.e. end their tenancy and then market a vacant property (or at least get them out before exchange).
  • His_Dudeness
    His_Dudeness Posts: 124 Forumite
    ViolaLass wrote: »
    Really? Why?

    Sorry I was unclear. I meant that in case the landlord sold to someone else.

    I have updated my post.
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    His_Dudeness wrote: »
    Sorry I was unclear. I meant that in case the landlord sold to someone else.

    I have updated my post.

    Got you, that makes more sense!
  • tjj2
    tjj2 Posts: 3 Newbie
    If you really want a discount, you will have to find out the reason the landlord is selling, the higher the motivation, the better the discount, as long as you are fair and ethical, and also state that you have been the "customer " for a long period of time.

    TJ
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