Landlord wanting to sell property (advice needed)

Glitteraim

Hello all,

This is my first ever post so hoping I do it ok...

We have been renting our current property since August ona 6 month contract. We had a call from our letting agent last week explaining our landlord wants to sell the property to fund the purchase of a new house (for him and his family)

We have been given first refusal of buying the property, but we arent in the best situation to purchase at the moment.

Does anyone know our rights where selling the property is concerned? How much notice does our landlord have to give us to vacate the property - is it still 60 days? What if we decide not to buy the house - can our contract continue until the end if the landlord cannot sell the house before? (It ends 2nd Feb '08)

Any advice at all would be grateful - we havent had much luck this year with houses and if we move again before the end of the year we will have moved house 3 times this year witha toddler!!! :mad:

Glitteraim x

carpetbelly

I believe that if you have signed an AST for six months then you can stay there for that period of time. But expect a notice telling you to get out after that point.

Or if the owner wants you out quicker you could always ask for compensation for your troubles. Otherwise I'd personally sit it out, getting this near to xmas with kids and all!

I'd chat with your LL and see what he has to say about it. If they have a family and kids to they should understand a bit that kids arent the best to move around with a lot and you signed an agreement.

Glitteraim

Thanks for you advice.

I dont really want to move before Xmas - our rental market is pretty slow around here at the moment but another worry is that there will be a bigger property slump after Xmas therefore leaving it a bit risky for finding some where suitable.

Glitteraim x

[Deleted User]

http://uk.biz.yahoo.com/08112007/214/house-prices-drop-says-halifax.html

thats why he wants to sell, HOUSE PRICE CRASH WHERE ALL GOING TO DIE, SELL, SELL, SELL

moneysavinmonkey

the earliest your landlord can ask you to leave is 6 months from when your contract started... so february.

Sorry that you have to move again. it is a right pain I know and I don't even have kids!

Maybe next place you get try and sign a longer contract if you can? Landlords are usually happy with this as it gives them more security too... unless they were planning on selling or asking for the property back in which case you should avoid that one anyway!

BrixMorta

The Landlord will need to serve you with a Section 21 (1) B if he needs possession at the end of your fixed term. This may have already been served as this can be done anytime after the commencement date of your tenancy, but must provide you with at least 2 months notice.

Remember also, that they must give you reasonable notice (24 Hours) before conducting any viewings from applicants looking to purchase & depending upon the terms of your AST this cannot usually be done until the last 2 months of the fixed term.

IveSeenTheLight

moneysavinmonkey wrote: »

Maybe next place you get try and sign a longer contract if you can? Landlords are usually happy with this as it gives them more security too... unless they were planning on selling or asking for the property back in which case you should avoid that one anyway!

It woudl seem simple and straight forward that by signing a longer lease say 12 months, you are secure for that period.

My understanding however that usually there is a break clause at 6 months meaning that from month 4 the landlord or tenant can give 2 months notice

jamesd

I'm currently with a landlord who bought the place from my original landlord. I'm still on the tenancy agreement I had with the original landlord. A sale does not necessarily mean that you will have to leave. It will depend on the plans of the buyer but if the buyer is a landlord they are likely to want to retain you as a tenant so that they don't have any vacant period.

Make it clear that if the buyer is a BTL buyer that you're interested in continuing as their tenant. That will help your landlord to sell to a BTL buyer.

Point out that it's prudent not to serve you with a section 21 notice until it's known that the buyer isn't a BTL buyer. This way there's no time pressure on the buyer to get a new tenancy in place the moment the deal completes. But if you are served a section 21 notice, you have to assume that you'll need to move, so can't guarantee to be a tenant for the buyer as you could if you don't get a section 21 notice.