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In-laws threatening to gazump us!

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SO and I have been together for 13 years. A few years back we were in a tight spot and his parents kindly offered to let us rent a house they own for a very reasonable rate. We have been there for a few years as we were both getting established in our careers. Over that time we have managed to save for a deposit. Yesterday we had an offer accepted on a house. 
 SO told his parents when we started looking and they did not seem pleased as the house we currently live in would be empty. 
The house is not in great nick tbh. We have done what we can to make it habitable but it really needs stripping back, replumbing, re-wiring, damp proofing, properly insulating and new doors and windows. We do not wish to do any of this as we are renting and this would have no return on our investment. 
 When we told them we had an offer accepted, all hell broke loose. They said we should buy the place we are in now for a discounted rate and that they want to buy the house we have put in an offer on and asking how much we had offered (we did not tell them). 
I am very cross that they are interfering so much, and am very worried they would just put in a higher offer. We don't want to buy this house, even at a reduced rate, it needs far too much work doing to it. It seems like they are being very unreasonable. 
SO feels like he is in a no win situation. I am worried that we will be gazumped by my interfering in laws. What can we do?
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Comments

  • AW618
    AW618 Posts: 242 Forumite
    100 Posts

    The house is not in great nick tbh. We have done what we can to make it habitable but it really needs stripping back, replumbing, re-wiring, damp proofing, properly insulating and new doors and windows. We do not wish to do any of this as we are renting and this would have no return on our investment. 
     When we told them we had an offer accepted, all hell broke loose. They said we should buy the place we are in now for a discounted rate and that they want to buy the house we have put in an offer on and asking how much we had offered (we did not tell them). 

    The second bolded sentence would negate the first bolded sentence, wouldn't it?  Is it genuinely a low price they are offering you?
  • Norman_Castle
    Norman_Castle Posts: 11,871 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Were they looking to buy and you've both chosen the same property? Seems extreme to buy a property just to prevent you buying it.
  • greatcrested
    greatcrested Posts: 5,925 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Good grief! Nice inlaws!
    Either
    * you just stick with your offer, stop speaking to the inlaws (about the purchase I mean!), and hope they don't actually interfere/gazump you. If they do, do not get into a bidding war! (you could always retaliate by stopping paying rent (ahem!). Not much they can do about that right now....)
    * give OS a boot up backside and get him to put his parents straight in no uncertain terms!
    * Bake a cake, take it round, and try to mend fences over a cuppa
    * if this property falls through (whether because of them or for some other reason) lean the lesson - don't mention any future purchase till you actually Exchange Contracts.




  • [Deleted User]
    [Deleted User] Posts: 2,714 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thanks for the advice people. We have done several things on the house which was costly but we certainly have not been in any position to do a full top to bottom refurb. This would costs tens of thousands! 
    We have:
    Had the slate roof repaired
    Replaced the front door 
    Redecorated all rooms but 1 in the house
    Had some wiring and plumbing replaced 
    Had a new boiler installed
    Had two new windows installed
    Had the flat roof replaced
    Replaced the bathroom suite



  • steampowered
    steampowered Posts: 6,176 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    With this sort of situation, I think you just have to strip it back to what it really is - a landlord / tenant relationship. Keep the family angle out of it.

    I would just ignore everything that has been said so far. There is no need to give the in laws a running commentary on your house buying plans.

    Just give your landlord the appropriate period of notice as required by your tenancy agreement, you are likely on a periodic tenancy, and move out from that date. The general advice is not to do this until you have exchanged contracts on the house you want to buy.

    It is totally up to your in laws whether they want to rent the property or sell it. That has absolutely nothing to do with you.

    The threat to "gazump" you sounds like a ridiculous empty threat to me. They can't gazump you if they don't know what property you want to buy or how much you want to pay. Even if they did find out which property, the vendor/estate agent are unlikely to think they are credible buyers. The in laws probably can't afford to buy another property anyway.
  • ElephantBoy57
    ElephantBoy57 Posts: 799 Forumite
    500 Posts Name Dropper
    The house is not in great nick tbh. We have done what we can to make it habitable but it really needs stripping back, replumbing, re-wiring, damp proofing, properly insulating and new doors and windows. We do not wish to do any of this as we are renting and this would have no return on our investment. 
    They said we should buy the place we are in now for a discounted rate and that they want to buy the house we have put in an offer on and asking how much we had offered (we did not tell them). 
    I am very cross that they are interfering so much
    You obviously don't have a very good relationship with them. I am generally open and honest, surely you can be honest with your close relatives, that have already helped you out greatly.

  • AW618
    AW618 Posts: 242 Forumite
    100 Posts
    Thanks for the advice people. We have done several things on the house which was costly but we certainly have not been in any position to do a full top to bottom refurb. This would costs tens of thousands! 
    We have:
    Had the slate roof repaired
    Replaced the front door 
    Redecorated all rooms but 1 in the house
    Had some wiring and plumbing replaced 
    Had a new boiler installed
    Had two new windows installed
    Had the flat roof replaced
    Replaced the bathroom suite



    Can you elaborate on what sort of price they are offering you that house for?
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