Advice sought on buying from landlord

Gycraig

theoretica said:

You say 'as communicated by the EA' was that the EA talking to you?  If it was, I would be tempted to ask the EA to explain to the landlord all the advantages of selling to a sitting tenant.  That way hopefully you aren't the one pointing out how hard you could be to evict.

Imagine going to court to TRY to remove a tenant who wants to buy the house At it’s valuation price, looking a long time and a lot of money. 

Landlord is trying to take the !!!!!! here I think 

seven-day-weekend

When the time comes to sell our flat, if the existing tenants are still in it, we would offer it to them at LESS than the valuation, for all the reasons given above!

Mahsroh

seven-day-weekend said:

When the time comes to sell our flat, if the existing tenants are still in it, we would offer it to them at LESS than the valuation, for all the reasons given above!

I did exactly this. I showed her the details from the Estate Agent (which detailed the difference in what they *think* it was worth vs what it was marketed at) and offered the tenant the house for £2.5k less (EA fees were £1.5k, I then estimated a £2k saving from no vacant possession and split that down the middle - in the end sold to an investor with her in-situ so that last part was a moot point). Still gutted now that she wasn't in a position to buy though, for her more so than me. 

eddddy

theoretica said:

I would be tempted to ask the EA to explain to the landlord all the advantages of selling to a sitting tenant.  

I doubt any EA would do that.

In fact, the EA is likely to want to do the opposite - because the EA would get a fee for introducing a new buyer, but they'd almost certainly get no fee if the landlord sells privately to the tenant.


(In the 'old days', letting agents had terms in their contracts saying landlords had to pay a letting agent a fee, if they sold to a tenant. But the high court ruled that to be an unfair contract term, so it's no longer enforceable.)