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Buying half of the house ?

K

Kaan

New Member
Hi,

My landlord decided to sell his house hence asked my partner and I to move out once the sell is completed.

We like the house and we think there is a potential in the house as well.
We won't be able to buy the house (valued above £580000) but we tought we could purchase half of the house.

I wonder if buying 50% of the house from the landlord exists at all? I know our landlord still pays mortgage for the property.

Regards,
Kaan
 
T

totallyproperty

Administrator
Staff member
Hi,

My landlord decided to sell his house hence asked my partner and I to move out once the sell is completed.

We like the house and we think there is a potential in the house as well.
We won't be able to buy the house (valued above £580000) but we tought we could purchase half of the house.

I wonder if buying 50% of the house from the landlord exists at all? I know our landlord still pays mortgage for the property.

Regards,
Kaan
Hi Kaan,

Welcome to the forum :)

I would imagine the landlord wants to sell to release some cash, so your issue would probably be whether you had a lump sum you could pay him that might make your proposition attractive to him? I'm not sure he would be keen on co-owning a house with a complete stranger though (you could be the best tenants in the world but are still a relative stranger to him),but if you did have a lump sum to pay him, you might be able to make a financial arrangement that appealed to him... you never know!
 
L

Longterminvestor

Administrator
I have seen similar situations in the past which have ended badly. One investor, the landlord, wants out and a potential buyer cant afford the whole property - people going in different directions. What happens if the landlord sold his 50% to someone else? Sounds like a tricky situation to me but if he is desperate you might be able to do a deal.
 
K

Kaan

New Member
Hi,
I would like to thank both of you for your answers.

I assume I would need to talk to a mortgage advisor ( as well as the landlord of course :) )
 
N

nmb

Well-Known Member
I would take as much advice as you can and then you will have enough info to make an informed decision. One last thing, don't let your heart rule your head.
 
R

realdeals

Active Member
I would be interested to hear how you get on in the future?
 
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