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Could you clarify please that the property is up for sale to individuals who are prepared to buy the same with her as a sitting tenant?
The society is made up of members of a committee that oversea properties owned by the foresters friendly society but although she has been the occupant of the property for over 50 years she has been told she has to put in a sealed bid with any other member and gets no preferenshall treatment even though she is the sitting tenant.If no member is interested in the price they are looking for it will then be offererd to the general public with her as a sitting tenant .My mother is 78 and is fretting about her her future we are trying to assure her she has no worries about being evicted as this has been her home for so long, but she is still worried
Thanks. If your mother is a secure tenant then any sale will be subject to her continuing tenancy. Beyond this as a secure tenant she has no right of first refusal or right to demand that the property is sold to her.
Buying the property is a matter of negotiation by private treaty between her and the owner. The owner is entitled to refuse to sell it or impose any such conditions he likes on selling the property. From your mothers point of view however if she were to buy the property she should be able to do so at below market price because she is a sitting tenant. Having bought it the property would immediately be worth full market price should she decide to sell it on the open market.
For this reason if the property is being offered for sale, it may be worth your mothers while considering an offer if necessary perhaps with your or another member of the family's help because it could constitute a good investment for any of you.
Though there is no legal rule, a traditional rule of thumb holds that a value of a property with a sitting tenant tends to somewhere between 60-75% of vacant possession value depending on (bluntly speaking) it is likely to be before possession can be obtained. e.g. an elderly person with no family would probably result in a higher value than it would if the tenant were a younger married person with children because he is likely to survive for a long time and to pass his tenancy on to future generations potentially.
Is there anything above I can clarify for you?
I am very sorry that you have had cause to rate my service to you as poor. It is very important to me that you are satisfied with my service to you and I would welcome the opportunity to both change your mind and to assist you further and fully in this matter. I should be grateful if you could advise what aspects of my response have caused you to leave feedback as you have? I look forward to hearing from you. Kind regards