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Getting rental house valuer if interested in buying it?

9 replies

ParkingFeud · 16/01/2022 16:49

We are currently renting and looking to buy a property but struggling to find something. Our most recent attempt at purchase fell through due to a bidding war that we won then a down valuation. Our landlord tried to sell our property 4 years ago (can see records online) for what was probably a lot back then as really it is a full renovation project that needs a new door, windows, kitchen, bathroom and flooring. There aren't any internal doors downstairs (but two oddly shaped doorways) and the upstairs doors and woodwork are very badly fitting, there's a large hole in one wall, shared water supply etc. It also has weird access and a flying freehold so all round a bit dodgy and we would need a price to reflect this as its not large enough to be a forever home and we would have to consider resale value.

We would be interested in asking him if he is still interested in selling it but have no idea what a realistic price would be due to the above oddities. Apart from being friends with an estate agent and asking for their opinion (we aren't!) is there anyway we can get a non biased opinion that reflects the work needed and dodginess to at least think about it?

OP posts:
sunshinesupermum · 16/01/2022 16:52

I wouldn't buy it because of flying freehold and massive amount of work that sounds like it will cost ££££ unless you have very good reasons for wanting to stay put.

Knittedfairies · 16/01/2022 16:54

I think the first thing to establish is whether your landlord still wants to sell; you could waste a lot of time trying to find answers to your questions if he doesn't.

ParkingFeud · 16/01/2022 16:55

@sunshinesupermum

I wouldn't buy it because of flying freehold and massive amount of work that sounds like it will cost ££££ unless you have very good reasons for wanting to stay put.
When I wrote out this thread I thought god people will think I'm mental, this does not look like a good idea written down! That is probably realistic to be fair. Just feel defeated by market and want to feel permanent. :( We love the area and that's probably the big reason.
OP posts:
sunshinesupermum · 16/01/2022 16:58

So sorry ParkingFeud know the feeling many years ago when ex and I tried to buy our first home together. Lost out on three and had to move to new area. (which we did grow to live TBH!)

TracyHorrobin · 16/01/2022 22:47

Whats the problem with a flying freehold? bought a house with one and sold it 12 years later, no problems. My next door neighbour also had a flying freehold, never mentioned any problems. Why dont you get 3 local Estate Agents in to value the property?

sunshinesupermum · 17/01/2022 09:43

TracyHorrobin a flying freehold can be simple or difficult issue to resolve and can cause neighbour disputes. As the OP has plenty of other issues with this property she doesn't need the added stress of investigating the impact of a flying freehold imho.
e.g.
Semi-detached or terraced houses where the dividing line between the two adjacent properties isn’t straight down the middle from top to bottom.
Balconies overhanging next door’s property.
Basements or cellars that go underneath neighbouring properties.
Rooms above shared passageways that lie directly beneath.
Maisonettes or houses where part of the property is situated under or over another freehold property.
www.pettyson.co.uk/about-us/our-blog/421-flying-freehold:

lastqueenofscotland · 17/01/2022 10:48

A lot of lenders don’t like flying freehold so I’d see first if you could even Borrow on it.
Then I’d ask the landlord and see if they have a price in mind.

ParkingFeud · 17/01/2022 11:14

Maybe this is just a really bad idea to be fair Confused I hate the housing market right now :( Thank you for all your insights

OP posts:
Beamur · 17/01/2022 11:18

I've owned a house with flying freehold and it really wasn't an issue.
At least with this house you know all the problems!
You've nothing to lose by asking. If your landlord is an accidental one rather than a career one, they might be willing to sell and offload the responsibility.

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