buying a property from the landlord

Strawbe11y

afternoon everyone i am hoping for some advice on how to go about buying from my landlord

the property we rent is, to say the least, outdated and has structural damages- to name one is rising damp and an extensive history of it. we also know the landlord has had to apply for a hardship fund in the recent past. 

we are worried and have reason to believe she can't afford the repairs needed in this house it is an Edwardian 1 bed flat that has not been sufficiently maintained. 

I want to buy it from her through a mortgage. i am aware the current prices are 50,000 in the last year but as this place needs a lot of work done I was thinking of an offer price of 35-40000 any advice to go about this ?

user1977

Before worrying about the price, do you know whether she's interested in selling?

tacpot12

I would also worry about whether the structural problems can be fixed if you only buy the flat. If there is work that needs doing in areas of the buildingg that you don't own, you may struggle to make the property damp proof.

You might want to get a structual survey done before you make any approach to the landlord. The risk is that they have no interest in selling, so you have wasted the survey fee. 

I would suggest that you write to them and just say that you are considering moving due to the damp and that you are looking to buy somewhere. Then ask if they would be interested in selling the property to you, and ask them to call you to discuss it if they are interest in selling. I would give them at least a couple of weeks to mull it over before writing the idea off. 

When they contact you, you can discuss the price, and you can make an offer, but make it very clear that the offer is "Subject to Survey and Contract". I would suggest you offer £37,000 and tell the landlord that this is based on your estimate that of the work that needs doing and that if the survey is more positive about the amount of work , you may be willing to offer a little more. You should make it clear that you want to pay the market value, and that there a benefits to the landlord of selling to the sitting tenants in that they save the Estate Agent's fees and they will not have the worry and responsibility of managing the property.

AdrianC

Strawbe11y said:

the property we rent is, to say the least, outdated and has structural damages- to name one is rising damp and an extensive history of it. we also know the landlord has had to apply for a hardship fund in the recent past. 

we are worried and have reason to believe she can't afford the repairs needed in this house it is an Edwardian 1 bed flat that has not been sufficiently maintained. 

I want to buy it from her through a mortgage. i am aware the current prices are 50,000 in the last year but as this place needs a lot of work done I was thinking of an offer price of 35-40000 any advice to go about this ?

Honestly? Sounds like you'd be mad... Ten grand isn't going to be a drop in the ocean of what the structural repairs will cost you - let alone the updating.

Can you even get a mortgage for the place in that condition?

And, given it's a flat, who's the freeholder? Who are the other leaseholders? Are they willing to address the structural issues?