Treetrunk24
New Member
- Messages
- 2
Hi,
I'm sale agreed with my landlord. Negotiations were fast: I offered, they counter-asked and I met their asking quickly due to not wanting to lose the opportunity. We've had an excellent tenancy and working relationship up to this point.
We've been sale agreed for 3 weeks today and everything is lined up and ready to go from my side but it's a very, very tight squeeze financially. Rent is due next week and I asked if they'd be willing to keep my deposit in lieu of last month's rent but they said no, that they expect me to keep paying rent until completion. I respect their refusal on the deposit, as that request was asking a favour, but am really hoping I can negotiate to pay rent until signing and deposit rather than completion. All my financial cushion has gone into the purchase and I'm desparate to get it over the line as the rent is €550 more than the mortgage and my head is barely above water until the deal is done. The motivation for them to speed things up is not as strong if they're still bleeding me for €1900 a month!
I would appreciate both clarity on what is legal and perspective on what is acheivable. Obviously they're legally entitled to rent until I sign but are they still entitled to it after that?
If they are entitled to it, is there a deal to be made? I'm very wary of rocking the boat but really want to improve my position, mainly because I can barely afford prolonged rent but also because I'm feeling slightly shafted at the moment. Some context is that we negotiated when a neighbouring property, identical to mine, had just gone sale agreed. The landlord's asking price was 2K higher, equivalent to a 5K higher open market price when you consider they don't have to pay an estate agent. Subsequent BER assessment also revealed that although the neighbour is a B3, my property is a C1 due to the very old boiler and it will take an investment of 3K to get the BER up to B3. Essentially I've agreed to 8K more than the sale is worth because I was too nervous to be demanding in this market, feeling that they had all the leverage. I know it seems like a small amount in the grand dance of buying a property but it means a lot to me! I'm also aware that if I weren't the one buying, they'd either be selling with me in situ for a lower price or else waiting until it was vacant and not getting any rent for a few months from then until completion.
What should I do: accept what's on the table and just pray they come to closing quickly or try to negotiate a better position? I would so appreciate some perspective and advice. Thanks.
I'm sale agreed with my landlord. Negotiations were fast: I offered, they counter-asked and I met their asking quickly due to not wanting to lose the opportunity. We've had an excellent tenancy and working relationship up to this point.
We've been sale agreed for 3 weeks today and everything is lined up and ready to go from my side but it's a very, very tight squeeze financially. Rent is due next week and I asked if they'd be willing to keep my deposit in lieu of last month's rent but they said no, that they expect me to keep paying rent until completion. I respect their refusal on the deposit, as that request was asking a favour, but am really hoping I can negotiate to pay rent until signing and deposit rather than completion. All my financial cushion has gone into the purchase and I'm desparate to get it over the line as the rent is €550 more than the mortgage and my head is barely above water until the deal is done. The motivation for them to speed things up is not as strong if they're still bleeding me for €1900 a month!
I would appreciate both clarity on what is legal and perspective on what is acheivable. Obviously they're legally entitled to rent until I sign but are they still entitled to it after that?
If they are entitled to it, is there a deal to be made? I'm very wary of rocking the boat but really want to improve my position, mainly because I can barely afford prolonged rent but also because I'm feeling slightly shafted at the moment. Some context is that we negotiated when a neighbouring property, identical to mine, had just gone sale agreed. The landlord's asking price was 2K higher, equivalent to a 5K higher open market price when you consider they don't have to pay an estate agent. Subsequent BER assessment also revealed that although the neighbour is a B3, my property is a C1 due to the very old boiler and it will take an investment of 3K to get the BER up to B3. Essentially I've agreed to 8K more than the sale is worth because I was too nervous to be demanding in this market, feeling that they had all the leverage. I know it seems like a small amount in the grand dance of buying a property but it means a lot to me! I'm also aware that if I weren't the one buying, they'd either be selling with me in situ for a lower price or else waiting until it was vacant and not getting any rent for a few months from then until completion.
What should I do: accept what's on the table and just pray they come to closing quickly or try to negotiate a better position? I would so appreciate some perspective and advice. Thanks.
