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Landlord has decided to sell.

Discussion in 'Personal' started by midnight_angel, Dec 11, 2015.

  1. midnight_angel

    midnight_angel Senior commenter

    Needless to say that I'm currently devestated (found out his intentions last night); I love my little flat, and this is the first place that I have really felt secure and turned into a home - prior to this, I was flats haring in furnished properties, I live alone here and everything in it is mine.

    It's a one bed (selling at a surprisingly large amount), so it will probably be a choice of first time buyers, or a buy to let.

    The former would mean having to find somewhere else. It would take a few months etc to go through, but I still need the hassle of looking (on top of my new bl**day job and added responsibilities in January!), but I'll to take three cats with me. Not to mention the cost of moving etc. I should get a full deposit back from this place, but naturally I won't receive that until after I move out, so will need to get together a deposit and agency fees etc.

    The second will hopefully let me stay. In fact, my landlord has informed me that a couple of investors have already enquired and are keen to keep a current reliable tenant, rather than the hassle and cost of having to find one themselves, and this way they can start earning money on the same day they invest. I've never had an issue with my landlord, and he assures me that I'll be highly recommended whether it be a future landlord here, or elsewhere.

    I'm praying that one of these investors offer a good price, but at the moment I'm still uncertain about what will happen, and still in shock - my landlord had always told me that this was a long term investment to boost his pension, and so this has come completely out of the blue. I've been wanting to cry all day at work (on top of crying last night), and whilst managed to hold on during my lessons, did cry twice to a colleague (once when she closed her office door, during my free period, and the other after school). I'm now sitting on my living room floor crying again.

    I know this is what happens in renting (I'm one of those on a good wage, but no deposit available for a mortgage), and to be fair, my landlord is being as helpful as he can. But a couple of days ago, I was happy and secure and looking forward to Christmas, and then a new start in a new job. Now the security of my home has been stripped from me, and I am completely helpless - I have no say on who decides to buy the property, and what offer landlord decides to accept. To top it all, I have people viewing tomorrow, and potentially strangers walking through my home over my Christmas break. F**king great. I intend to be here for as many viewings as possible though, so an investor can see how lovely and charming I am.

    Sorry for the long post, but I just needed to get it out as I sat here and cried. Now I need to go and pretty the place (see, I'm an excellent tenant!) for tomorrow. Sucks that I'm going to have to sell myself, as much as the place itself. :(
     
  2. foxtail3

    foxtail3 Star commenter

    So sorry to hear you've got this hanging over you @midnight_angel. It must be very unsettling to be in a state of limbo.

    I 've never rented for any length of time and really only when between houses, so I can't say that I know how you feel, so I'll just hope for your sake, that an investor buys the property and keeps you on as a tenant.
     
    midnight_angel, ScotSEN and Kartoshka like this.
  3. Sillow

    Sillow Lead commenter

    Ah, @midnight_angel I'm sorry to hear you're so down. :( I'll keep my fingers crossed you find a lovely landlord who keeps you on with the minimum of hassle.
     
    midnight_angel and ScotSEN like this.
  4. lexus300

    lexus300 Star commenter

    The bar-stewards:mad:
     
  5. Grabthar

    Grabthar Established commenter

  6. monicabilongame

    monicabilongame Star commenter

    You have my sympathy. My son and dil have had to move around 4 times in as many years because of landlords either deciding they want to live there, or selling. Every time involves frantically hunting for something they can afford in an environment of ever-rising rents, paying for the searches on them that the letting agents do, paying for schedules to check they're not nicking the silver, cleaning from top to bottom (and generally leaving the places in far better condition than when they moved in, because of fear of losing deposits), to say nothing of the upheaval and paying for the moves.

    I don't have any answers - just a deep anger.
     
    ScotSEN and midnight_angel like this.
  7. gameofdrones

    gameofdrones Established commenter

    How is he a bar steward when he's going to recommend her to a new landlord?

    btw OP, I would remove all valuables from sight if there are going to be viewings. I had things go missing during viewings in a rental flat.
     
  8. Dragonlady30

    Dragonlady30 Star commenter

    We have rented for years and, although your present situation is SO unsettling, all will be well. We've been in the situation of having a house sold from under us but something, in fact something much better turned up.

    Take care. XXXXX
     
    midnight_angel and ScotSEN like this.
  9. HelenREMfan

    HelenREMfan Star commenter

    So sorry to hear of your problem :(

    I rather think the landlord has to give you 2 months notice..... I don't know whether any additional time is allowed you considering where Christmas falls.

    I rent 2 properties..... the less said about the shop/flat I had to sell earlier in the year the better. It is a fact that things like insuring these properties can be a headache. Then there is the yearly complete nightmare of dealing with HM Revenue and Customs. I do really resent doing their job for them. Tenants need only give one month's notice of course.There is always new and current legislation to keep up with. I have had to have carbon monoxide sensors fitted which is done at quite some expense cos I am not "handy" and don't have any "handy " males in the family either so I pay top $ to a property maintenance company.

    Am sorry you are losing somewhere you have invested so much care over..... I alas have never had that good a tenant. To be fair I have been lucky in that only one did a lot of damage but one is one too many.
     
    needabreak likes this.
  10. needabreak

    needabreak Star commenter

    In my limited experience property sales can take a while so if you are not being evicted for viewing this may bide you some time, esp as this is a slow time for home buyers and if it were a cash investor they may want you to stay, but in any case I am pretty sure the solicitors will shut for Christmas so unless it is already sold you are likely looking to the new year the buyers solicitor to do the searches etc that they need to.

    All the very best to you!
     
  11. ScotSEN

    ScotSEN Senior commenter

    I sold 2 properties in Scotland this year and its a minimum of 6 weeks once everything is agreed. Hope all works out.
     
  12. gameofdrones

    gameofdrones Established commenter

    The landlord needs to give notice.

    She can't be evicted before next year.
     
  13. lexus300

    lexus300 Star commenter

    The whole private rental system treats tenants like cattle.
     
    midnight_angel likes this.
  14. FrankWolley

    FrankWolley Star commenter

    Sorry to read about the worries this causes.

    It's just one reason why l would never rent if l could possibly buy, and why l feel so much for the next generation who are being priced out of the housing market.
     
  15. midnight_angel

    midnight_angel Senior commenter

    Thanks all. It is the uncertainty of knowing whether I'll be here in a few months, or need the hassle and expense of finding somewhere else in that time. Not to mention the cancelling/change over of ally bills, and informing bank, doctors etc of new address.

    Two people coming round this afternoon, and one possibly the first week of my holidays. Of those 3, I have been told that two are buy to let investors (a good chance then, surely?). Ideally, I wouldn't have to bother with a third person, but I have a feeling I will, just in case my hopeful landlord thinks she might make a better offer. Not to mention anyone else that enquires in the meantime. (Although, if she is one of the buy to let, I will welcome her in with open arms and offer her some wine/tea during her visit!)

    @FrankWolley Yep, that's the situation I am in. I earn a very decent wage (Inner London UPS (I actually live in a commuter Kent town though, and the school is just within the inner range) + a rather decent TLR, as a core subject leader), I am by no means poor, and neither do I spend excessively and I do try to save a little each month, but I still do not have the funds available to secure the type of deposit needed to fund a mortgage of the ever increasingly prices for a one bed. I know how much my landlord bought this place for, and it's on sale "offers in excess of" £55,000 more than he paid for it - £55,000 in two years!! No wonder he wants to sell it now.
    I would love to own my own place, but sadly it's not going to happen for a few years yet, as I continue to get a suitable deposit available -after Christmas, I was intending to open up one of the new government "we'll boost your ISA" accounts, but now it looks like the little savings I have will need to pay estate agents fees and new renting deposit etc. Even with the £3000 government boost, I'm still looking at a good few years of saving, and need somewhere to live in the meantime!

    To others, my landlord hasn't given me the two months required notice yet, just told me about putting the place on the market. He said that even with a first time buyer, everything will take 3-4 months to complete. He has therefore, tried to give me as much notice as possible (up until this point, he has always been an exceptionally decent landlord, and I a good tenant - he has pretty much just left me alone to live here/look after the place and pay the rent. The only issue I have had, during my time here - a leaking toilet once - he dealt with straight away).

    For those of you who have bought/sold places. In your exceriences (I know that every case can differ though), how often after viewings are people likely to make an offer? Say two people coming round at 4.30/4.45 this afternoon? I'd much rather stay here, but even if I know I'll have to leave in 3-4 months, I'll at least know for certain and will put plans into action.
    @HelenREMfan Don't suppose you're currently taking on a single (and yes, I am biased, but definitely reliable) tenant and three cats? Nope? Dammit, worth a try :p
     
  16. foxtail3

    foxtail3 Star commenter

    People might view and then come back for a second viewing. Second viewings are likely to be more serious about buying.

    It all depends really. Someone might look at the property and go straight to the agent to put in an offer. Others might muse on it for a while before doing so. It's said that the majority of viewings take place during the first two weeks of being on the market. Bearing in mind the time of year, there may be a lull after next week.

    An offer doesn't have to be accepted though and the asking price is just that. It depends what the landlord will accept.

    The landlord has to give you a section 21 notice to quit which gives you a couple of months and he'd be silly to do that before he has a firm offer in place and possibly he might want to wait until exchange of contracts. Best case scenario is that he sells to a new investor, who is happy to maintain the status up and keep an excellent tenant, without the hassle of goung through the process him/herself.

    Unsettling for you though and I feel for you.
     
  17. lanokia

    lanokia Star commenter

    Oh I had this in my last rental property... landlord decided to sell, put the house on at a vastly inflated price, couldn't sell [but I had to put up with lots of buyers traipsing through my home] before I got my present abode with Mrs Lanokia. The plonkerlord then gave up trying to sell and tried to rent again at £100+ existing monthly rental.

    Not sure what happened next as I stopped caring.

    Best of luck to you @midnight_angel!
     
  18. grumpydogwoman

    grumpydogwoman Star commenter

    @midnight_angel

    So sorry.

    The wheels can grind exceedingly slowly though.

    At this time of year the private buyer is traditionally not scouring the market so I think the chances of selling to an investor are high. Also the rules are changing soon for buy-to-let landlords so a lot of them are looking to exchange/complete quickly.

    But don't panic. It's rotten news but the odds are in your favour, I'd think, to stay on and continue to be the good tenant you are. Fingers crossed.
     
    midnight_angel likes this.
  19. needabreak

    needabreak Star commenter

    Yes very true and on reading again she doesn't expect to need to go till next year anyway, I was thinking about other peoples posts clarifying timescales.
     
  20. bluelemonade

    bluelemonade Occasional commenter

    My son who is 24 has had this recently, and the landlord does not have the right to harass the tenant before the two month notice period, and even then, does not have the right to "disturb the tenants peaceful enjoyment of the property".. In other words, you don't have to put in with investors invading you privacy, on the half promise of the tenancy continuing. That will be a cost/benefit choice for you, but you can just say "no", unless you are given 24 hours notice in advance and if you find it inconvenient
    Avail yourself of the help of CAB.

    I have no time for landlords, and have secured enough deposit for all my kids to buy a house eventually, but I am certainly not giving it to them yet, because I think there will be a crash, whilst these profiteering persons get a come down. I give my son some money a month to make his life liveable, and indeed my daughters, but then I have a problem with one of my daughter's partners who makes her son pay rent on a property she owns. These people are beyond selfishness.
    .
     

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