How to buy our rented house...

HouseMouse2019

We want to look into buying our rented house.

I assume the first step is to get a valuation of the property.

- Can we do this as we are not the owners?
- Will doing so alert the landlord or factor to our actions?
- We are talking Scottish housing market, maybe makes no difference to the above.

The house is unusual for the street so street sale comparisons are not that valid and the house doesn’t appear on any previous sales databases. I think it may have been passed on via inheritance of some kind.

Any advice gratefully received.

foxy-stoat

Does your Landlord want to sell the house?

I would speak to them in the first instance and see where they are at, they may not want to sell it so any valuations you try and get will be irrelevant.

Tridentmorph

Just ask a local estate agent to value it, don't tell them you are renters, they should give you a ballpark figure on the visit.

To go down formal route contact owner, inform of desire to buy, get valuation survey done (you pay), make offer based on this to owner and send them copy of report to back up offer.

wesleyad

You have to ask LL first, anything else is a complete waste of time. As a LL myself there is no chance (currently) I'd even think of selling, and especially not at market value.

davidmcn

I would check whether they're interested in selling at all, before worrying about what to pay.

AdrianC

As the others say...

Let's say you get a valuation, like the number, and can fund the purchase. What then? Do you really think that simply going to the landlord and saying "You have to sell it me for £x!" is going to be warmly received? He's under no legal obligation to sell, if you're getting confused with Right-to-Buy on council and housing association properties...

How the landlord acquired the property is irrelevant. If anything, renting an inherited property may actually make sale less likely, if he's daft enough to have an emotional attachment to Great Aunt Minnie's old place.

davidmcn

AdrianC wrote: »

if you're getting confused with Right-to-Buy on council and housing association properties...

Which would be doubly confused considering that RTB was abolished in Scotland years ago.

need_an_answer

HouseMouse2019 wrote: »

We want to look into buying our rented house.

The house is unusual for the street so street sale comparisons are not that valid and the house doesn’t appear on any previous sales databases. I think it may have been passed on via inheritance of some kind.

Any advice gratefully received.

As the owner of an inherited house that is now a good rental,I wouldn't entertain any tenant who asked to buy.

Before you invest anymore time in this,I would either send the LL a letter or arrange to speak to them.
But you must also accept that this property may remain a rental.

Not every property is for sale.

G_M

need_an_answer wrote: »

Not every property is for sale.

I disagree.


Every property IS for sale, provided the seller is offered sufficient money...........


(but a market valuation may be irrelevant)

Cakeguts

There is no point in doing anything until you ask the landlord if they want to sell it. If they don't want to sell it then getting a valuation is a waste of everyone's time.

iammumtoone

HouseMouse2019 wrote: »

We want to look into buying our rented house.

You can't buy something that is not for sale.


You can offer on something not for sale but unless you are prepared to offer much more than the expected sale price it isn't usually worth doing so.


You may get lucky that the LL happens to be considering selling it, it doesn't cost to ask but don't get your hopes up. It you want to buy your own home start looking for similar properties in the area.