Rented flat in Forced Sale - advice please

Sarah_81

jamesd wrote: »

Would you want to buy with the service charge but without ground rent? The reason I'm asking is that the statutory lease extension process eliminates the ground rent. So you could buy and plan to do that in two years, once you have the legal right to do it. Or if the current owner has the right already you could agree for them to do it as part of the sale.

Hi
No I wouldn't be able to afford to buy as I'd only just be able to afford the mortgage really. I don't bring in a great deal and live alone so if any unexpected bills came in for repair etc I'd be pretty much screwed straight away. My parents were going to gift me the deposit but that would leave them unable to help if I was hit with a big bill. There is also the added pressure of owning and all that comes with it.

Both myself and my dad are only child's and he has told me once my grandad passes I can live there (sure there is a legal route which we'll go through at the time) grandads house is paid off, freehold, and just round the corner from where I am now.

luvchocolate

Hi I would think they will want to sell it without a tenant, so much easier to sell.
If it was me I would start looking, you have time on your side, and if nothing sorted by May let it roll onto a monthly agreement.
When the property is advertised read this to see if it says with vacant possession.

rtho782

Ok, so it sounds like their ideal situation would be for you to stay there on a rolling contract, and them to give you 2 months notice once they have an offer in, so that you're leaving just before contracts are exchanged.

But, that means you have however much uncertainty. I wouldn't like it and would want to leave at end of fixed term for somewhere more stable.

They won't want this though - then they have an empty house, and reletting it means a 6 month term minimum for them.

So, you have the power and the leverage. Consider saying "I will go on to rolling but want to negotiate a 25% reduction in rent given the circumstances, or I will move"

G_M

Your fixed term ends in May?

So you have 2+ months to decide. tart looking around. If you find somewhere and decide to move, then you can do so at any time up till May the xth (as guest said above, no notice is legally required).

If not, you stay and move toa periodic tenancy, and can then leave by giving a tenancy period's notice when you're ready.


* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

No need to make a decision now.

Sarah_81

Hi everyone

Thank you so much for all your helpful replies

The property is now being marketed - here is the link http://www.rightmove.co.uk/property-for-sale/property-64647851.html

The agency have already called to arrange a viewing for Saturday morning.

HOWEVER - they have listed the property as Freehold, when it is most definitely leasehold, as are all the flats in the block (8 of them)

I think I will start looking in April as I don't want my life disrupted every week until it sells. I would like stability, even being a tenant.

Sarah_81

Ok, 3 sets of viewers have now left, along with the EA showing them round. I asked if I should leave while the viewings were going on but the EA said no.

2 viewers were polite and seemed sympathetic to my situation. Looked round but didn't stay very long.

The 3rd and last viewer however; they told me they'd be looking to move in in a month and that they wanted all fixtures and fittings, including a dining table I bought when moving in.

I then responded to say if they were moving in in a month then they'd have to live with me as my contract didn't end til 29th May, I was not moving out within a month, and that the dining table belonged to me so they can't negotiate for that to be left as it does not belong to the vendor selling the place!

I just wondered if they may put pressure on me to leave early? I would NOT consider this unless a VERY large incentive was given to me. I'm not going to leave before my contract ends just because the buyer wants me out 2 months early. I'm also not leaving them my things!

Am I correct in stating this? That is what the contract is there for surely, so people can't just turn round after 3 months and tell you to leave because it's not convenient for them having you stay?

Also, I don't have anywhere to go even if they did offer an incentive. I'm not just going to move anywhere because the new owner wants me out early. I will leave no later than the end of my fixed term, they don't have to worry about that. But the new owner surely can't just decide to throw me out next month?

scriv

B. Cheek!!!! Yes Sarah, you are very correct in that they cannot force you to leave before the end of your AST - and only then by giving you a 2 months formal notice before the end if they wanted you to leave at the end of it.

And also, your things are your things, end of story!!! There should have been an inventory which you should have signed when you moved in - only those items are the ones which can be sold with the property.

PS They seem very deluded if they think they could buy a leasehold flat within a month in any case .... mine took 3 and a half months!

Sarah_81

Hi Scriv - yes a detailed inventory was taken before moving in.

I made it clear they were salivating over my personal property and if they wanted it then they would have to pay ME.

This 3rd viewer also seemed to think that the 'service charge' means that the maintenance team actually cleans your apartment for you - a few times she spoke of how 'they' had made the flat so clean and tidy. I took great delight in informing her that the reason the flat was so clean and tidy was because I had cleaned it, and it was like that because of ME, not the maintenance team!

If she buys I think she'll be in for a nasty shock, especially that ground rent clause!

scriv

Love that about the 'Service Charge'....

Are you sure the flat is Leasehold despite being advertised as Freehold? Are you not tempted to say something to the EA or solicitor?

Sarah_81

Yes I'm sure it's leasehold. When I was considering buying it I asked about the lease and ground rent. I was told it was £150 a year, collected by Homeground and that it doubles every decade. Most definitely leasehold, not sure why it says freehold, very misleading. I could hear the EA talking of the ground rent outside my door while they were chatting in the hallway. I doubt the vendor has bought the freehold since the apartment is being forced sold, I very much doubt they would have the money for it.