Buying a rented property

[Coobeastie]

Hi.

I'm currently renting a property via a letting agency, but would be really keen to purchase it. Has anybody done this? All the books I have looked at refer to properties that are already on the market so aren't of much help.

I presume if the owner is willing to sell, he'll need to arrange his side of the dealings as if he'd been planning on selling in the first place.

[WoWo]

You just need to ask him if he would be willing to sell. But... have you checked out how much the property may be worth? It's likely that the purchase price when your land lord purchased it is much lower than it's current value meaning that the rent is less in relation to a mortgage on the property.

Therefore by purchasing it your mortgage may be much larger than your current rent. You do of course get the "benefit" of owning it.

Check www.nethouseprices.com to see if the purchase price and sale date are listed.

[Coobeastie]

Will give that a go thanks.