- going from Tenant to homeowner, same property.
In the process of buying a house (“corporate sale”) and assuming that nothing goes wrong, been told an offer has been rejected as we are so far through the process so hopeful nothing will, touch wood, cross fingers etc etc…
We are currently paying rent for the house through one agent and buying the same house through a second agent.
How does the rent work? The owners are asking for completion next week, which should be ok, but it does put us into a new rental period.
Our rental contract states 1 months notice???
But in a month we will be owning the property? so that would make us the landlord and the tenant, which is just stupid!
If i cancel the rent standing order now i am in breach of anything, does it matter?
I have spoken to the renting agent and they weren’t aware of our offer and weren’t sure what to do.
I don’t want to pay a months rent and then claim back etc.
I don’t want to be in breach of anything that could be used against me,
Then there is the rental deposit to get back as well….
Wondering if anyone in STW land had come across this situation before and had any advice.Posted 4 years agodavid jeyMember
We are also in the process of doing this, and we did what teethgrinder did too!
I don’t understand how you’ve ended up buying the house thro an agent if you already lived there, and thus presumably had notice it was being sold before it went on the market…? As soon as we found out our place was being sold we were straight on the phone to our landlady to let her know we were interested in buying it – no agency fees = more bargaining room on price.
We’re out of contract with the letting agent in a couple of weeks and will be paying rent directly to our landlady til we complete. I’d speak to the landlord direct if that’s an option. Oh and cancel your standing order or the muppets will continue happily taking your money.
At the end of the day, only reason to worry about messing letting agents about is getting a good reference for a future rental. Since you’re buying and won’t need that, screw em.Posted 4 years agomrmoMember
I don’t understand how you’ve ended up buying the house thro an agent if you already lived there, and thus presumably had notice it was being sold before it went on the market…?
house doesn’t belong to the Landlord we initially rented it off, he was declared bankrupt house repossessed. The bank has then put the house on the market and is obliged to get best price. It has also taken a bit of time for us to get the funds together to be able to make an offer.
I did talk to the banks agent before the house went on the market(the ones running the landlords portfolio on behalf of the bank, another agency!) and they said they would not accept any offer accept through the estate agent they appointed to handle the sale.
Does that make sense????Posted 4 years agocbSubscriber
Might not apply in your case as the original landlord is out of the picture but as a landlord I am obliged to pay the agency that rented the property for me a fee on any sale price if the tenant were to buy it. I suspect your original agent will now be trying to claim a fee if they can. Bloody leeches.Posted 4 years ago
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