Renting a house when its up for sell as well

moneysaver12

I went to the estate agent today to fill in the form to rent a house that i really liked. To find out that the house is up for sale aswell. I don't know why they didn't tell me in the first place. Has anyone else had this. Has anyone actually moved in to a property that is up for sale. Im wanting a long term let.

JanCee

Yes, I rented a house that was up for sale and ended up buying it!! However if you are looking for a long term rental then I wouldn't take a house that was up for sale. There are plenty of rental properties and you would be better off taking a property where the LL was grateful for a long term let.

Doozergirl

It's likely that your landlord isn't all that committed at the moment, but you can't tell with anyone whether they will sell from under your feet. I've seen plenty of developed houses come up for sale, not sell at their overinflated price and then be let for a long time.

And there are plenty of people on these boards to testify that a landlord can promise a long term let and try to give notice before the first six months are even up!

Rock. Hard place.

moneysaver12

Thank you jancee for your help. Im going to look for a house with a long term let

moneysaver12

Thank you doozergirl for your help. At the moment im currently renting and have been for two and half years through the estate agent. Am looking for somewhere bigger now. This house that i want to look at someone else asked for a reduction in price but the landlord wouldn't reduce it as she has a mortgage.

Debt_Free_Chick

The key is ..... what is the term that the LL will offer on a rental?

If it's "only" six months then you can bet your bottom dollar that they want to sell, rather than let.

If it's twelve months, then ..... well, at least you have the security of a twelve month fixed period.

I feel for you. I am in your position. What I've done is to offer a lower rent for a longer fixed period. If the LL doesn't bite, then that tells me "something".

What I'm finding is that too many rentals are on the market, offered by "sellers" who have absolutely no intention of letting their property. They simply want some income until a buyer comes along. Absolutely nothing wrong with that - if only the LL would say that - but I need to rent for the next 12-36 months and I don't want/need the insecurity of rolling 6 month ASTs.

And .... I'm prepared to pay for what I want (to the tune of £2k per month for the next 24-36 months). Still ... no takers .....

moneysaver12

Debt_Free_Chick wrote: »

The key is ..... what is the term that the LL will offer on a rental?

If it's "only" six months then you can bet your bottom dollar that they want to sell, rather than let.

If it's twelve months, then ..... well, at least you have the security of a twelve month fixed period.

I feel for you. I am in your position. What I've done is to offer a lower rent for a longer fixed period. If the LL doesn't bite, then that tells me "something".

What I'm finding is that too many rentals are on the market, offered by "sellers" who have absolutely no intention of letting their property. They simply want some income until a buyer comes along. Absolutely nothing wrong with that - if only the LL would say that - but I need to rent for the next 12-36 months and I don't want/need the insecurity of rolling 6 month ASTs.

And .... I'm prepared to pay for what I want (to the tune of £2k per month for the next 24-36 months). Still ... no takers .....

I looked on the estate agents site and have found that quite a few propetys that are for rent are up for sale, yet they don't seem to tell you, they where keen on showing me one property and when i looked it was up for sale as well. i need something for at least a couple of years now. I wish they would tell me too before i go and view the property. I hope you find somewhere nice

JanCee

Debt_Free_Chick wrote: »

What I'm finding is that too many rentals are on the market, offered by "sellers" who have absolutely no intention of letting their property. They simply want some income until a buyer comes along. Absolutely nothing wrong with that - if only the LL would say that - but I need to rent for the next 12-36 months and I don't want/need the insecurity of rolling 6 month ASTs.
.

I think that Debt-Free-Chick is absolutely spot on with the above comment and this can cause it's own problems because the seller/LL is completely unaware of all the rules and regulations that come with being a LL.