Vendor has died during buying process

poppysarah

Chris2685 wrote: »

Nah, you can get rooms in a travel lodge from £19 a night. The only difficult thing will be getting food though, that could turn out expensive if you have to buy it every day

£570 a month plus storage, plus all meals, plus the inconvenience of having to use laundrettes etc.

Nahh

PasturesNew

You can't pick a travel lodge then find £19 rooms. The £19 rooms tend to be in just a few lodges and have to be booked X weeks in advance. And some never have £19 nights. Even those that have £19 nights, they're only that price a few nights a month.

The TL at the end of my friend's road is never less than £51/night. I've been keeping an eye on it in case I fancied visiting her.

Unless you can cut a deal with a despearate TL manager, the best bet is to talk to the LL and get some flexibility in.

Incisor

hairypete1138 wrote: »

My wife and I are in the process of buying our first house. There is no chain at either end, and our solicitor was confident that we would complete by the end of September at the latest. Given this, we informed our letting agents that we would not be renewing the contract on where we are now when it expires in the middle of October.

Solicitors being confident is no basis for acting as though you had a contract. Although it could cost you a few weeks rent, the thing to do is let the rental run periodic and only giving notice once the contract is exchanged, and agreeing a removal date towards the end of a rental month if poss, leaving yourselves a little time to move out and clean up. The costs will be predictable, whereas if you move into a hotel and put your stuff in store without a sale contract, the costs are openended.

As for getting probate taking a while, you should try and get a realistic estimate of how long it would take if the executors set their minds to it. A discussion to confirm their intentions and a renewal of your offer with a time limit is required. Beware if the 'child' really is a child, then executors will be obliged to have a process which ensures that they get best offers, which could add more delay.

lovethymini

I was trying to buy a house ages ago, and it took a year to go through probate! By the time it was ready for selling, the children who had inherited it decided that they wanted more money for the house, pushing it over my budget, so I had to pull out.

Should you be told that probate may take up to six months, you may choose to pull out which no-one wants in the current market with it's shortage of buyers!

I'm sure you trust your solicitor, but what if something happens which is out of out of his control on the vendor's side?

Could adding a clause be suggested so as to financially protect you in the event of probate dragging on? ie £1000 per month beyond the original time period? This would give you some much needed peace of mind.

I think speaking to your LL and explaining exactly what is happening would be an excellent idea.

Good luck!

Incisor

lovethymini wrote: »

... Could adding a clause be suggested so as to financially protect you in the event of probate dragging on? ie £1000 per month beyond the original time period? This would give you some much needed peace of mind.

There is nothing to add a clause to at this stage. Until probate is granted, no contract can be signed. Once probate is granted, it can all go ahead very quickly - mortgage and surveys could be completed or arranged before probate. Big risk is like buying new build, that probate takes so long that the mortgage offer runs out and a new offer does not support the initial offer.