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My Landlord Is Selling Up - He Is Scared

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Hi all. Those who read my other posts will know that I currently rent from a parent, and he has been asking me to buy the house off him for the last month.

Unwilling to insult him with an offer of 100k while others on the street are up for 150k, I've been keeping quiet.

He finally issued me an ultimatum. Either I buy it, or he is definitely putting it up for sale asap, as he is "worried for his retirement fund".

I can either snap up deal at say... 125k instead of 150k (but hey, prices will be that low by christmas anyway!) or wait it out and risk being kicked out into a flat that costs double the rent. It won't sell anyway. That's what I'm telling myself. My options are either buy the house cheap, move out and rent somewhere expensive until early 2011 when prices have dropped a bit, or let him sell the house full price to somewhere else and try to pick up a reduced price house elsewhere in the coming months.

But anyway, this anecdote shows that what we've been talking about for so long is really happening. Landlords everywhere are getting nervous, and flooding the housing market before they lose everything. We are in the fear stage of that lovely little graph we all know and love. It is really happening at last!

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Hi all. Those who read my other posts will know that I currently rent from a parent, and he has been asking me to buy the house off him for the last month.

Unwilling to insult him with an offer of 100k while others on the street are up for 150k, I've been keeping quiet.

He finally issued me an ultimatum. Either I buy it, or he is definitely putting it up for sale asap, as he is "worried for his retirement fund".

I can either snap up deal at say... 125k instead of 150k (but hey, prices will be that low by christmas anyway!) or wait it out and risk being kicked out into a flat that costs double the rent. It won't sell anyway. That's what I'm telling myself. My options are either buy the house cheap, move out and rent somewhere expensive until early 2011 when prices have dropped a bit, or let him sell the house full price to somewhere else and try to pick up a reduced price house elsewhere in the coming months.

But anyway, this anecdote shows that what we've been talking about for so long is really happening. Landlords everywhere are getting nervous, and flooding the housing market before they lose everything. We are in the fear stage of that lovely little graph we all know and love. It is really happening at last!

FEAR is not here yet, sorry. I think we need to wait another 6 months or so and then...MAYBE...

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Considering that rightmove article was plastered all over loads of major internet sites saying all of the gains clawed back since the last dip would be gone by the new year, I think that fits well into the fear stage.

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We've just started the final downward trend into the fear section in my opinion.

Sheeple are reading all about the impending crash and getting worried that the lunatics raving on about it for the last year or so were actually correct.

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Will he "lend" you the money OP?

Since it is a parent, and he'll get near naff-all in interest on the house sale monies, and it's for retirement, why not offer to pay him directly, without you taking out a mortgage. So, let's say he's got 15 years to retirement, you could pay him 1/15th of the £125k per year (perhaps on a monthly basis) with interest at say 3%, which is what he'd get from a bank. This would work out a lot cheaper for you than a mortgage at 6% and therefore equivalent to an even greater discount off the purchase price (I'm assuming you'll need a mortgage of course) and just the same for him. Nobody loses - he gets full retirement funds at retirement, you get big discount on property. Oh, there is a loser, the banks B)

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Can you afford to fund your dad's retirement? Do you want to? Or would you be better letting some other fool fund your dad's retirement?

Hell no. I refuse to put myself in negative equity just so he can have some goats and acres of space by the seaside instead of a few less acres of space.

The house is going on the market next monday. The estate agents lied and said they have sold loads of houses in our estate over the past few months and are sure it'll sell easily. They've also overvalued it.

I've put £100 on the table and bet them it won't sell by christmas. Big fan of money where the mouth is.

Gonna be annoyed at having to pay more rent elsewhere though while I ride out price drops.

Fear stage of the bubble? Definitely.

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The fear stage seems to be creeping in, although I wouldn't say it's anywhere near full swing yet. My landlord is also selling up. He knows we will happily rent here for at least another two years, but is still opting to put it on the market right away. The most he's said about it is 'future uncertainty'. Which I'm inferring as he wants to cash in his IO mortgage (I know he has one) whilst things still look rosey.

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But anyway, this anecdote shows that what we've been talking about for so long is really happening. Landlords everywhere are getting nervous, and flooding the housing market before they lose everything. We are in the fear stage of that lovely little graph we all know and love. It is really happening at last!

He is already too late. I haven't seen anything sell for a month.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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