Buying my Rental House

[Deleted User]

You can do a lot of the house buying process online so there isn't really any need to delay until January. I agree with the others that the landlord probably doesn't think you're serious about buying because you want to hold off until the new year.

diggingdude

Remember you can also refuse to move out and make LL evict you before any potential non btl purchase takes place. Avoiding this hassle has some value in negotiations

AvidSaver101

Thanks all, appreciate the help. Looks like waiting isn’t an option so will kickstart the application process tomorrow.

Bexgrossman

AvidSaver101 wrote: »

That’s definitely possible - the trouble is it is for the genuine reason that I’m out of the country for the next several weeks. Come start of Jan I’d have no issues with progressing everything through on the purchase.

I’d understand if this was a property I had no ties to, but with the existing tenancy going to take a minimum of 2 months to end, was hoping to get the benefit of the doubt.

I may have no choice but to hold fire until I’m back and then make the offer again, based on the condition of the property being taken off the market and on the understanding the purchase will be finalised within a specific timescale e.g 28 days

The mortgage application takes an hour or so over Skype with an advisor. You can leave a key or get a survey done a few weeks before exchanging. You know the house is solid as you are living in it. Start the process now, it's nots like you have to move out

sal_III

The LL is being silly, probably enticed by an EA, when they "asked around" for prices in the area.

Between the hassle/expense of evicting you to gain vacant possession for a sale, the risk of lost rental income in case of Gazumping / sale falling through and paying EA commissions,
they will be hard pressed get much more than the £210k you offered.

The point you want to delay until January should be moot, since they are getting full rent menawhile and evicting you for potential buyer can take much longer, so they are unlikely to complete the sale any faster.