Landlord selling the house with us in?

macman

He'll need to get it valued for CGT purposes before sale, so at some point he may realise that it's worth a lot more than £80k. But if not, then it sounds like a very good deal.

markin

BlueJ94 said:

macman said:

Why have you spent your own money improving the LL's property, so increasing it's value, only to have to pay them for the rise in value?
I hope you can persuade him to take into account the extra money you have effectively given him.

Well when my OH moved in he wanted to do up the place, change the radiators etc he’s a self employed plumber so any jobs he had he would take the radiators if they were fine and were better than our ones. We recently spent money on changing all the carpets etc, we wanted it to feel like home. Since I mentioned to OH about the LL selling OH straight away asked me to ask shouting buying the house. The house was last sold at 75K in 2009, so for it to only be 80k now is a really good steal. Just have to think about either buying it or staying here until we get a new LL and hoping they don’t throw us out 

After 14 years the house is likely paid of now so its 80k in the bank for him, Was the 8 years of reduced rent in the knowledge that you've improved the place? Would that offset your new carpets, ect?


Odd you didn't get offered first refusal, Or maybe its that the is no other buyer!

BlueJ94

markin said:

BlueJ94 said:

macman said:

Why have you spent your own money improving the LL's property, so increasing it's value, only to have to pay them for the rise in value?
I hope you can persuade him to take into account the extra money you have effectively given him.

Well when my OH moved in he wanted to do up the place, change the radiators etc he’s a self employed plumber so any jobs he had he would take the radiators if they were fine and were better than our ones. We recently spent money on changing all the carpets etc, we wanted it to feel like home. Since I mentioned to OH about the LL selling OH straight away asked me to ask shouting buying the house. The house was last sold at 75K in 2009, so for it to only be 80k now is a really good steal. Just have to think about either buying it or staying here until we get a new LL and hoping they don’t throw us out 

After 14 years the house is likely paid of now so its 80k in the bank for him, Was the 8 years of reduced rent in the knowledge that you've improved the place? Would that offset your new carpets, ect?


Odd you didn't get offered first refusal, Or maybe its that the is no other buyer!

When I first started renting the other areas were also around £300 to rent. He just never increased it as he never did anything to the house. I don’t even think he knows we’ve changed anything in it. The only thing we’ve had done recently was he had to have the fire alarms fitted. 

I don’t think it’s up on the market yet, this is the email I had from my EA

Well just for you to know the Landlord has always said he would rather sell it, to you. 

He is looking to market the property for £80,000. 

 

Let me know what you think and if you require mortgage advice then please do let me know and I will get Pierre to give you a ring if needed. I can’t really give you a time scale on the sale sorry but its still early days as yet. But if you are interested then landlord is interested to hear what you have to offer.  

diystarter7

Hi OP

That is great news. I hope it works out for you as you appear to be a really nice poster/person judging by your posts I've read on this thread.

You are a very reasoable person as well.

Good luck

lookstraightahead

Op that's great news. Low rent and then the option to buy sounds like a great deal. No chain or issues for the landlord either so they are likely to give you a fair deal, makes sense on both sides.

Edi81

Is landlord filling all his legal obligations? 

BlueJ94

diystarter7 said:

Hi OP

That is great news. I hope it works out for you as you appear to be a really nice poster/person judging by your posts I've read on this thread.

You are a very reasoable person as well.

Good luck

Hello! 

aw, thank you! I just think there's no point in me getting annoyed or angry at the LL and then OH decided to just question if we could buy it from him. The LL did state it was early days for the sale yet so at least that gives us some time to get a deposit when the time comes for him to think that he does want to sell up! 

Thanks for the best wishes!

BlueJ94

Edi81 said:

Is landlord filling all his legal obligations? 

He wasn't for years, I still have the leak that's been in my extension for the past two years. But when the EA was speaking to me about the house sale he asked if there was anything I needed to ask or tell him and I said yes the leak thats been there for two years and he said hes going to get that sorted asap! 

BlueJ94

lookstraightahead said:

Op that's great news. Low rent and then the option to buy sounds like a great deal. No chain or issues for the landlord either so they are likely to give you a fair deal, makes sense on both sides.

Thanks, the way OH is looking at it, if we stay when we get a new LL say our rent is £600 (going rate currently) then we may aswell get a mortgage and stay put if we can buy the place! We will just see what happens next, I'm going to email the estate agent back Monday morning 

macman

Is the LL not concerned about you making 'changes' to the property without his knowledge or consent? Has there been no annual inspection? GSC? EICR?
It sounds as if the changes you have made have increased the value of the property, but in law you could be asked to return the property to it's original state if he does not agree with the changes which you see as improvements.
He does sound to be quite a bizarre LL.