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want to buy our rental home..any fees involved?

3 replies

ducdo · 02/05/2011 15:08

been renting our house for a few months and very interested to see if we can buy (owners had in on the market before we rented from them). we can approach the owners directly but wonder would they have to pay a fee to the estate agent managing the tenancy agreement?

I am hoping not as could save themselves a few thousand and would assume as they are not in contract with the agent to sell the property, purely rent it, that no fee would be due but wanted to check?

Does anyone know? Many thanks.

OP posts:
LIZS · 02/05/2011 16:17

When we rented ours out there was a clause for a fee should we sell to a tenant they had introduced. Don't think this necessarily applies but it is up to the owners to check.

ducdo · 02/05/2011 18:33

thanks Lizs, so do you think rather than that clause being the norm, could possibly be something that is added? if so, will obviously check with the owners. Thank you

OP posts:
nocake · 03/05/2011 17:02

If your landlord was on the ball then he/she will have crossed out the clause that entitles the letting agent to a fee if the tenant buys. We crossed it out when we arranged to let our flat and the agent didn't complain. The agents know that they're taking the p*ss with that clause and hope that people don't notice it.

If your landlord wasn't on the ball then they'll be liable for a percentage of the sale (as if it had been sold through an estate agent) but you won't be liable for anything.

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