MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
Following on from earlier, was wondering if anyone can offer some constructive advice.
Landlord has gone bust,
receivers of rent have written to say that they wish to sell the property with sitting tenants. ie me and the SO in situ.
The landlord owed a number of similar properties in the street.
Basically late victorian 2 up 2down with modern extensions on the back.
Next door sold, bigger extension and bigger loft, 120k, 5? months to sell, next door but one bigger extension sold for 107k 10months to sell, both these were sold through agents. A few other properties have i believe also been sold but not sure of the prices, but they were advertised for slightly more than these sold for, but the same as they were advertised for.
As both were bigger and in similar repair can i draw any guidance for what the property i am living in is likely to go for? are there any rules the reciever must follow? etc,etc.
Just trying to be positive about facing eviction again and wondering if i have options.
Find out who the landlords bank is and approach the bank
and ask how much is left to pay on the property.
Check houseprices.co.uk for average price for street and offer 20% under to the receivers. They can only reject the offer giving you option revise your offer. They be wanting a quick sale so take advantage
Have a look on UpmyStreet as well.
+1 Grantway .
A direct approach to the receivers , cutting out estate agents fees might be the way forward.
I take it you like the property , and are happy there?
The receivers are supposed to get the best price possible for the client (HMRC , Bank) . At then end of the day , they get paid alot and might take a direct offer to avoid auction sale /screwing around for a year trying to get a sale.
I take it you like the property , and are happy there?
Not so much happy, but know what it is like, can't really face moving AGAIN, trying to find a pet friendly house, it isn't that bad, could do with a like of paint, new windows, etc. etc.etc.
On the basis that the rent we are paying and the mortgage repayments would be very close i think i can afford it, and in 5 years maybe look at buying somewhere in a nicer area etc etc.
I have a phone number, will give them a ring and see if they will talk to me, at least i can get an idea of there plans.
as a minor point, what sort of percentage deposit is minimum?
I can get a bit over 10k from the bank of mum, so on a 100k property is this going to cut it with the banks?
It seems 10% minimum deposit at the moment but this isn't your only cost. You will need to pay the convayancing, about 1500 as you'll be under stamp duty. You'll need a decent survey, but the mortgage provider will want a valuation as minimum, 300-500. Quite probably an arrangement fee on the product about 500. So you need a deposit and another 2500 quid basically, maybe a few extra hiden costs too.