Assured Shorthold Tenancy vs Fixed Term

dimbo61

The Landlord should have had a valid EICR done before April 2021 ?
You should have received a copy within 28 days !
Did you ?

Jami74

canaldumidi said:

Jami74 said: Could we offer to buy our home from the landlord? If so, how would we go about it? 

1st step would be to get a couple of agents round (tell them you are the owner?) and ask for valuations. Also look at prices of similar local properties.

Then decide what you think the property is worth (to you).

Then approach the owner/landlord and make an offer!

Just invite a couple of agents around for a valuation? That easy? Do they charge?

The house opposite sold last year for £270k after 18 months of renovations. The thing that has always worried me is that it's a wooden framed house (with plastic on the outside and plasterboard on the inside) and it's a bit wonky. From the outside it appears that there are brick walls between the properties, although if I tap on the walls between us and our neighbours they sound pretty hollow. I've attached a couple of pictures of the upstairs back of the house, do you think these are fixable? 

canaldumidi

Are you sure you want to buy this house!!?

But yes, EAs will give valuations if they think they might get business as a result eg a sale. But bear in mind they sometimes over-value, hoping you will greedily appoint them as your sales agent! So ask fora) what price they advise advertising for and b) what price they realistically expect it willsell for.

Failing that, pay an RICS surveyor for a formal valuation.

Jami74

canaldumidi said:

Are you sure you want to buy this house!!?

We might be able to afford it I was thinking it might be less than other properties locally because it needs updating. Looks like I can get a level 3 building survey for about £500. The other consideration is the close is a 'private estate' and I see that when other houses have been sold it says 'leasehold'.

 Just worked out that we have paid more than £150k in rent. Would love a new kitchen (was described as 'aged' on the inventory when we moved in) but don't want to pay out a lot of money knowing we could be given 2 months notice at any time. And would love to swap our 'aged' 1990's storage heater for something more efficient. In all fairness, the rent is lower than average where we live. Saving as hard as I can for a deposit.

Jami74

Might the original contract/paperwork 'got lost' when the letting agents merged and became a new business? I still have all our original paperwork from before it was emailed.

Or, might the landlord want to sell with sitting tenants and us being on a fixed term for a period of time makes it a more sellable investment?

canaldumidi

You can buy the land registry title for £3 here. That will give you the owner, lease or freehold, and any restrictions covenants, rights liabilities etc on the property.

You'd be mad to spend money updating a property you rent. Youcould always ask the landlord to ft a new kitchen.........!!!

What you've paid already is irrelevant. In return you got a home! And if you are paying below market rents locally that's great (though probably reflects the outdated nature of the property).

Paperwork might be lost yes.Who knows? Keep hold of your originals.

Selling with tenants will reduce the price he can get.

Jami74

canaldumidi said:

Selling with tenants will reduce the price he can get.

Ah okay, so it's not that. I'll try and stop wondering why. Very unlikely he would agree to a new kitchen based on previous experiences.

I'm frantically reading all the information for first time buyers. 

Thank-you so much for your input.

Jami74

canaldumidi said:

You can buy the land registry title for £3 here. That will give you the owner, lease or freehold, and any restrictions covenants, rights liabilities etc on the property.

Thank-you. 44 years left on lease. 

hazyjo

Jami74 said:

canaldumidi said:

You can buy the land registry title for £3 here. That will give you the owner, lease or freehold, and any restrictions covenants, rights liabilities etc on the property.

Thank-you. 44 years left on lease. 

You won't get a mortgage on that. That's incredibly low. I'd want at least 85 (with a view to extending it soon), and your lender would prob want at least 80.

Jami74

hazyjo said:

You won't get a mortgage on that. That's incredibly low. I'd want at least 85 (with a view to extending it soon), and your lender would prob want at least 80.

Oh

Could he extend it? We could ask him if he would be willing to extend the lease and sell us the property. Does this sound like something a landlord might consider or am I completely in dreamland now?