Landlord selling, but won’t sell to me

I'm bemused, too. I'm having to sell a rental that I 'inherited'(long story), and I'd have been thrilled if the tenants could have bought it. Apart from anything else, it would save the hassle of insuring an empty property, preparing it for advertising, and paying for utilities and council tax etc for an indeterminate amount of time. As well as that I'd be selling to particularly motivated people who would be unlikely to drop out.

But sadly they were nowhere near financially able to do so.

He probably wants you out so he can carry out any improvements, market the property and get the best price possible on open market. Are you sure you weren’t expecting an easy buy by offering to purchase now? As tennant no matter what the relationship is you don’t get first dibs on the purchase. Just move on and look for another property to buy if it comes on open market and you are seriously interested then purchase through the estate agent but I would be doing lots of research on property prices in the area.

Well that's swell when you've inherited a flat, it's all a lovely bonus for you. Other people have paid for their properties so aren't so inclined to give them away.

Agree with PPs that the dickish options open to the tenant - being difficult about moving, viewings etc - are precisely what has led to landlords' wariness around this issue and why it's more sensible to serve notice and have a clean slate than trust that the OP won't be one of those kinds of flakes.

Where did I say it was selling at a lesser price? Although without exposure to the open market, who knows? And it wasn’t me as my three line post makes clear - did you even bother to read it before rushing in guns blazing?

It's still like that here. Bottom end of the market is still mad, houses flying off the market over asking within days.

Purposefully sold at below market rate?Lesser price?Below market rate That’s what your recommending
You said you’d sell below market rate to a sitting tenant.

You’re inferring some Kind of altruism were you would have happily taken less money to accommodate tenant finances. As it happens they couldn’t afford the flat anyway

Getting EA estimates on sale price and closing the middle isn’t necessarily selling at lesser price . It’s not the same

I'm surprised that several people are talking about bidding wars, sealed bids and houses going for way over the asking price. That was common in 2021 after the Covid lockdowns, but that was an unprecedented situation. Where I live, the market has slowed considerably and the balance of power between buyers and sellers is much more equitable.

OP is of the opinion that the house is worth £50k less than the valuation. Did you give your tenant that large of a discount?

It’s not just because though. My friend sold to her tenant because it saved her paying estate agent fees and because she needed to do nothing to smarten it up before marketing it. She got three valuations and went for the middle one.

Has he said he would not sell to you once it's on the market?

Is your furniture okay ? It’s possible that the house is so poorly styled or decorated that he’s better off selling empty. It’s also easier with home opens & showings if it’s empty.

I would speak to some agents about its value and then offer slightly higher depending on how the market is where you are.

Essentially he wants the highest price he can get for the property. So unfortunately yes, you will need to move out and then go through the estate agent once it comes on the market. Lots of landlords are selling up in my area. Property behind me has been put on the market recently, it needs new bathroom, cloakroom, kitchen, boiler, fascias, doors and windows! The landlord has just tarted up around the edges, and put it for sale at an asking price, which he will never achieve! Looking on Rightmove, it's probably £40K overpriced!! Pure greed.

You know couple of LL inc you who'll happily accept a lower property price out of misplaced sentimentality, sense of duty? Ok
That is nice for you all and makes me think you don’t need or don’t want to maximise sale price. Happy to settle for a lower price just because

Yes I know that is what he wants but many landlords to give tenants first refusal and are happy to accept a lesser price.

I am selling a flat I i inherited. It is currently let. I have offered it to the tenant at below market price; I'm not desperate to make a fortune out of it and I would be happy with what I got if the tenant bought it. Unfortunately he is not in a position to buy so it is on the market, he's prepared to move out if the new owner doesn't want a tenant.

I've known a couple of people who've bought a house or flat that they've rented, they were given first refusal with some knocked off the price. It's not uncommon but obviously depends on the landlord's circumstances.

All those advising tenant to act up ,wait on eviction etc that’s the reason LL wants tenant gone
Potential hassle. Costs. Hassle. Disruption to sale

well she could do that. Or she could just move out so the landlord does not have to take her to court where she would probably have to pay court costs or damage her credit rating.
good advice from someone with a business brain

And that attitude nails why the landlord wants the tenant out before it's marketed!

What? You think LL take a lower price from tenant out of misplaced sentimentality. Utter mince
It’s a transaction. To maximise profits and make the asset appealing to multiple buyers

Why is it greed when the landlord wants the best price he can? Stop being ridiculous.
Why should he give money to his tenant?

We've just sold a rental property where we had to evict the tenant as she wouldn't move out. Load of fucking hassle.
Had she offered the asking price to buy the house we would have absolutely accepted as it's so much easier.

I think you should ask for a lump sum to leave with no fuss.