Buying house directly from Landlady

elsien

GerryM6 said:

canaldumidi said:

A surveyor is optional. If you feel confident that you know the property and are sufficiently knwledgeable to spot problems (leaks, subsidence, damp, dodgy roof) then no surveyor needed.

If you want a valuation to help you decide how much topay, an RICS will give you that if you pay him. Or do research and look at sold prices for other recent similar local properties.

Your landlady will need to check her contract with her agent - it may include a clause giving them the right to claim a fee for introducing you, even though initially that introduction was as a tenant. Though recent law may have outlawed that - I'm not sure.

Given your non-existant understaning of the (legal) process, you both need solictors to manage checks and the ownership transfer.

Note: conveyancers/solcitors don't get involved in valuation. You tell them what the agreed pice is, and they make sure it is paid!

Ultimately you and the seller agree the price, but you can get advice on this from a surveyor (or estate agent!). Or do your own research.

Right so here are the steps I should do:

1. Get RCIS to get a price for the house. I'm not comfortable evaluating a house as I am new to this.
2. Optional: Get surveyor to inspect property for defects & condition.
2. Landlady needs to end contract with estate agents. We need to end contract as well.
3. Her & I need to get solicitors each to deal with money exchange & legality of ownership.
4. Bish bosh bash, we own house.
 

You don’t have a contract with the estate agent to end. If you mean your tenancy, then that’s with your landlady even if she uses a letting agent to deal with the day to day stuff. 

canaldumidi

Bish bash bosh- did you read the link I gave you?

Have you used google?There are 100s of websites that describe the house-buying process (which is a bit more involved than bishing and boshing). eg

https://www.which.co.uk/money/mortgages-and-property/first-time-buyers/buying-a-home

Or try your local library for a free book eg

https://www.waterstones.com/book/how-to-buy-your-first-home-and-how-to-sell-it-too/phil-spencer/9780091935375

Slithery

You don't need to end the contract with your LL.
As soon as you buy the property you take over her role as LL and so can just mutually end the tenancy you have with yourself.
Remember to confirm what will happen to your deposit (if any) in the sale paperwork.

SusieT

Landlady needs to read carefully her contract with the estate agents. There may be a clause about selling it to the tenant, to the point that she would have to pay them comission due to their role in the rental of the property

GerryM6

elsien said:

You don’t have a contract with the estate agent to end. If you mean your tenancy, then that’s with your landlady even if she uses a letting agent to deal with the day to day stuff. 

Yes, sorry. I meant tenancy. 

Slithery said:

You don't need to end the contract with your LL.
As soon as you buy the property you take over her role as LL and so can just mutually end the tenancy you have with yourself.
Remember to confirm what will happen to your deposit (if any) in the sale paperwork.

I will look into the tenancy agreement & try to get the deposit back, definitely.

SusieT said:

Landlady needs to read carefully her contract with the estate agents. There may be a clause about selling it to the tenant, to the point that she would have to pay them comission due to their role in the rental of the property

I will talk to her to see what agreement she has with the estate agents. We would rather not give them commission for the sale but if that is the easiest/most direct route to it then so be it. 

Thank you all for your help. I believe I have some critical information I didn't know before hand in which to move forward.

Thanks again!

eddddy

SusieT said:

Landlady needs to read carefully her contract with the estate agents. There may be a clause about selling it to the tenant, to the point that she would have to pay them comission due to their role in the rental of the property

GerryM6 said:

I will talk to her to see what agreement she has with the estate agents. We would rather not give them commission for the sale but if that is the easiest/most direct route to it then so be it. 

If there's a term like that in your landlady's contract, the High Court ruled in 2009 that term would be unfair and unenforceable.

But if there is a term like that, and the agent aggressively insists that your landlady pays a sales commission fee...

....Is your landlady the sort of person that would know about High Court judgements, and would she stand up to the agent - and be prepared to complain to the Ombudsman, and/or fight the agent in court? Or would she just pay, to get a quite life?


(But hopefully, her agent will be aware of the High Court judgement, so they won't ask for a fee anyway.)


Some info:
https://www.tpos.co.uk/images/documents/media-articles/property-drum-sept-12.pdf
https://www.gov.uk/cma-cases/foxtons-hidden-fees-in-lettings-agreements-with-consumer-landlords

GerryM6

eddddy said:

....Is your landlady the sort of person that would know about High Court judgements, and would she stand up to the agent - and be prepared to complain to the Ombudsman, and/or fight the agent in court? Or would she just pay, to get a quite life?

She is in her mid 80s & isn't super knowledgeable on the subject. She has asked her children to be informed about what's going on with the sale. I will relay everything I've learnt & talk to them about options. Problem is I am/was not super familiar with the subject either so it's finding out what's easiest & sensible. I think we both want to take the quiet life option.

macman

As a buyer, you do not contract with an estate agent to buy a property. The vendor contracts with the EA, not you, and pays their commission. There is no cost to you, but of course you will expect the price to reflect the saving on EA commission if a private sale is agreed.
Neither of you need to use an EA. You simply agree a price and appoint your own conveyancers.
No, you cannot 'buy' a property just by paying for it: Land in the UK is registered and need to be legally transferred to give you good title.