Renting: signing the tenancy agreement & paying deposit?

QTPie

Answer back from the letting agent:

With the monies, I appreciate they are not due until completion but we cannot allow you to sign the contract without having paid cleared funds. The order in which we must let a property is monies, contract, keys. If it was not done in this way we would be making people the legal occupier of a property for 6 months (legally binding) without having taken any monies at all.

With this in mind would you rather come in to pay and sign closer to the date of completion?

Any thoughts?

QT

theartfullodger

Unless the pruchaser TELLS the agent to go ahead with signing the contract and handing over keys, money arriving later... He just might...

The order he is stating is that followed, in my experience, by all sensible LLs & Agents. Keys usually provided on the day of tenancy start- (otherwise person with keys acuires rights to reside in property). I've done (I'm a LL) it different once, for very very specific reasons, nothing like your case.

Try saying you won't sell unless this is sorted out?? Biiiigggggggggg gamble...

Good luck!

Artful

Notlob

QTPie wrote: »

Answer back from the letting agent:



Any thoughts?

QT

Quite right, I would never allow TA's to be signed prior to receipt of cleared funds. And the idea of a posted dated cheque is just plain daft - it can easily be cancelled.

Notlob

QTPie

theartfullodger wrote: »

Unless the pruchaser TELLS the agent to go ahead with signing the contract and handing over keys, money arriving later... He just might...

The order he is stating is that followed, in my experience, by all sensible LLs & Agents. Keys usually provided on the day of tenancy start- (otherwise person with keys acuires rights to reside in property). I've done (I'm a LL) it different once, for very very specific reasons, nothing like your case.

Try saying you won't sell unless this is sorted out?? Biiiigggggggggg gamble...

Good luck!

Artful

I don't think there is an issue with the keys, since we already have them... I don't think they can take them away from us before completion

No, contracts exchange, completion date set for 15th April. Don't want to mess about.

If we have to pay the £3875 now, then we will (although it will take a couple of days to transfer between accounts). I am just a little confused that he said that money wasn't due until completion, but now he wants it now . But surely it is better - for both sides - to sign the tenancy agreement now?

QT

BettyDebt

In our case we weren't permitted to sign the tenancy agreement or pay the remainder of the deposit until move in date. We were told the TA takes place from the sign in date. But my EA were useless so I wouldn't hold that as gospel.

theartfullodger

Yes, better - particularly for you - to sign early as there's a bit more certainty about your position after the sale...being able to rent the place.

Good luck!

Artful

QTPie

Thank you very much, everyone: as usual, good, insightful, sensible advice.

Will see if they take American Express, otherwise will have to move some funds around. Will sort it out and sign sooner rather than later.

Thanks
QT

R4D5

a little off topic but

Are you physically moving out and moving back in (I assume not because that would be silly) . I ask as I am interested in how the inventory check will be dealt with as you are already in occupation, has this been mentioned as yet?

QTPie

R4D5 wrote: »

a little off topic but

Are you physically moving out and moving back in (I assume not because that would be silly) . I ask as I am interested in how the inventory check will be dealt with as you are already in occupation, has this been mentioned as yet?

Hi

No, we wont physically move out and move back in (would be expensive and a lot of hassle ).

The inventory check in going to happen a week before completion. LA coming found and dictating and taking photos and then it being printed and written up and then signed. I guess he will have a good prod around and into cupboards etc.

BEFORE he comes around, I will go around and do my own inventory and try to ruthlessly note EVERY mark, scuff, stain on carpet, dodgy paving slab etc. Our house is as immaculate as can be for being lived in (no pets of children) for just over 5 years (without redecoration), but we are human afterall... If I do my own inventory, I can give it to him for when he walks around (make sure he doesn't miss anything).

QT