I have been renting a 2 bed apartment for last 5 years. Small development of 12 apartments and 20 houses in desireable area and management company ran by residents.
Landlord purchased property about 13 years ago. 3 years ago I expressed an interest to landlord (who lives abroad) about purchasing, luckily for me it was declined. I was approached a year ago to make an offer and declined because of market conditions. Landlord has now again approached me and i have been asked to make offer. For some reason landlord does not want to sell thru estate agent and will not disclose price they expect. The last apartment in complex that was sold was 5 years ago for 340,000. Currently there is a 1 bed apt in same complex for sale at 160,000 but no takers. I have finance and would be a first time buyer.
Any advice on buying tactics would be appreciated.
Apologies for long post.
Landlord purchased property about 13 years ago. 3 years ago I expressed an interest to landlord (who lives abroad) about purchasing, luckily for me it was declined. I was approached a year ago to make an offer and declined because of market conditions. Landlord has now again approached me and i have been asked to make offer. For some reason landlord does not want to sell thru estate agent and will not disclose price they expect. The last apartment in complex that was sold was 5 years ago for 340,000. Currently there is a 1 bed apt in same complex for sale at 160,000 but no takers. I have finance and would be a first time buyer.
Any advice on buying tactics would be appreciated.
Apologies for long post.
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