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Needs some help wording an email re house sale

6 replies

EarlLeighIndamornin · 24/05/2020 02:16

I live abroad and rent my house out. My tenants are interested in buying it but I've been waiting to get a valuation done which obviously isn't happening right now.

They've offered 50k under what I would really want (and about 100k under the 'online' valuations) but it seems the best solution all round if we could conclude this without us both incurring fees to put it through an agent.

Thing is, if I did put it on the market I'd put it on for more expecting to be negotiated down. My tenants have lived there for a year so they know the house - what I want to say to them is that I'll sell to them a xx price (which I think they'll be happy with) but that it won't be subject to a survey and I won't negotiate.

I just need some help with the wording - I can tend to be too business like and a bit abrupt.

OP posts:
OpthalmosVerde · 24/05/2020 02:21

Living in a house is not the same as a survey. Would you really refuse to negotiate if it turns out that major work needs doing?

cabbageking · 24/05/2020 02:27

I would assume there was a problem with the house if you said this.

You can get a free evaluation from an estate agent who will do some research on the area and sold prices. If they need a mortgage any provider will insist on an inspection valuation at least.

A online valuation doesn't take into consideration the condition of the house and area and are widely inacurate.

Witchend · 24/05/2020 05:12

We bought our first house from our landlady.
We had 3 evaluations done (2 chosen by her, one by us) and went for the middle one.
We did also have a survey done-I seem to remember our mortgage insisted on it, but we would have anyway as you can't tell some things.

AJPTaylor · 24/05/2020 05:27

O understand what you mean. Our last house we sold the second it went on the market for slightly higher than asking but at a v reasonable price because the buyers met our need for motivated buyers. I made it very clear though that I would not reduce/negotiate on survey, we would put it back on the market or stat put. Needed a specific sum to move.
In your shoes I think that I would say the following.
"Having considered all the factors at play in the current situation, I am willing to sell at x. However, I think it is only fair to be transparent and advise that I cannot sell for less than this, and should you not be able to complete at this value then I would cancel the sale with the intention of continuing to rent the house out.

missionalmostimpossible · 24/05/2020 05:31

If they are buying with the help of a mortgage, they will have to have a survey so the bank can confirm valuation and loan to value percentage. You won't be able to dictate that, so don't write anything about it in your letter.

EarlLeighIndamornin · 24/05/2020 14:35

Thank you @AJPTaylor I think that's the type of wording I am looking for!

Regarding the survey, yes I know that the mortgage company need a valuation survey done, what I was hoping to avoid was an expensive (for the tenant admittedly) full structural survey.

I'm certainly not trying to hide anything about the house - they have lived there for a year and I have spent quite a lot of money on usual maintenance and more.

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