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Landlord wanting to sell the house I rent

(27 Posts)
Caraandhercats Sun 02-Aug-20 22:15:33

We have been renting our house for 9 years Landlord has always been great basically let us treat it like our own decorating how we want etc we really like the house and the area is great for our daughter close to school etc
Landlord contacted us last week to say he will be putting the house on the market within the next couple of months I think he is gutted to have to but financially it is what he needs to do
We would obviously love to buy the house and save the hassle of moving we don’t have a lot of savings towards a deposit but are able to borrow a bit to make it possible to try to buy the house
Would we be unreasonable to tell him we have a budget of a certain amount that is about five thousand below the market value and ask him to allow us to buy and not put he house on the market at all?

OP’s posts: |
EnglishGirlApproximately Sun 02-Aug-20 22:18:09

It wouldn't hurt to ask. He may well be willing to negotiate on price for an easy sale if he wants things to move quickly.

PrayingandHoping Sun 02-Aug-20 22:18:48

Not at all. £5k below asking price is not much of a drop and if u go direct he won't have to pay estate agents fees

snowspider Sun 02-Aug-20 22:18:51

If you may be in a position to buy then yes go for it, selling to you would be a potential good solution for both

Brenna24 Sun 02-Aug-20 22:19:02

It would certainly be worth asking.

Percephone Sun 02-Aug-20 22:20:04

He might accept at £5k below market value as it avoids a chain and probably estate agent fees too. Definitely worth asking!

snowspider Sun 02-Aug-20 22:20:31

Bit odd he didn't offer to you first, which would have been an obvious thing to do

Mmmmycorona Sun 02-Aug-20 22:21:05

I would definitely ask. I’m sure he would love as hassle free sale as possible.

jelly79 Sun 02-Aug-20 22:21:22

That seems really reasonable to start the conversation... good luck OP

Pinotpleasure Sun 02-Aug-20 22:21:31

Also do tell the LL that he won’t have to pay commission to an estate agent if you buy directly from him. To get a fair idea of the price it would be best if there were valuations from 3 different estate agencies and comparing recent selling prices on Zoopla of similar properties nearby.

You have nothing to lose by suggesting to your LL that you would be interested in buying it.

hilariousnamehere Sun 02-Aug-20 22:21:39

Definitely ask, I did this with a similar value compared to market value and he said yes! He was happy to save estate agents fees and I was happy to stay in a home I already loved smile

MrsWooster Sun 02-Aug-20 22:21:54

Definitely worth a go-he’ll pay that in fees.

Didyousaysomethingdarling Sun 02-Aug-20 22:28:05

He may have to pay fees. Very often there is a clause in the tenancy agreement, from the letting agents, stating fees are payable if a tenant they have introduced buys the property. shock

Whyamiwastingtime Sun 02-Aug-20 22:35:32

I would say yes try it. I had to sell a flat i was renting out and if the tenants had wanted it at 5k below asking i would have jumped at it. It needed various works done and also removal of the furniture that had been left behind, cleaning,windows,carpets blah blah. lots just to get it into viewing condition and it was still being sold as a doer upper.

Caraandhercats Sun 02-Aug-20 22:37:35

Thanks everyone we’re hoping he’ll accept for a quick sale and less hassle all round
@snowspider he did say he wanted us to have a chance to see if we would be in a position to buy so guess just have to ask him now and see if he’ll accept our offer as we won’t find anywhere as good for us in the same area for the amount we can afford and really don’t want to get in to another rented property if we can avoid it

OP’s posts: |
notheragain4 Sun 02-Aug-20 22:39:10

Absolutely ask! £5000 under budget is not a big ask, you'd be FTB and he wouldn't have to worry about serving notice and complications that can arise with tenants not able to leave- you'd be attractive buyers in that regard. Mention it ASAP before he speaks to an estate agent as that'll likely save him a chunk anyway as well. Good luck op!

Mosaic123 Mon 03-Aug-20 00:41:19

You would be making life easy for him. Definitely ask. Good luck.

netflixismysidehustle Mon 03-Aug-20 01:05:53

It is worth asking. You'll be saving him estate agents fees.?

AmICrazyorWhat2 Mon 03-Aug-20 01:16:53

I'd definitely ask him, he may jump at it, especially during these uncertain times. Good luck!

Porridgeoat Mon 03-Aug-20 01:20:20

Ask him for the valuations and how much he would like. Then offer 5k less

2bazookas Mon 03-Aug-20 01:30:02

We sold a flat to the tenant who was renting it, no problems at all.

jessstan2 Mon 03-Aug-20 01:43:47

Do ask him. £5,000 is not a great reduction, he will expecting to receive less than he asks for. Go for it and good luck.

Aquamarine1029 Mon 03-Aug-20 01:45:40

If you did a private sale, he would need to use an agent. There's about 5k right there. I would definitely ask.

Notfeelinggreattoday Mon 03-Aug-20 02:08:22

Definitely ask and good luck

sunshinesupermum Mon 03-Aug-20 16:27:51

Good luck!

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