Allowing the seller to stay in the house after completion

robbieh_2

Hi,

Please help, we are first time buyers and the seller wants us to complete early and allow him to stay in the property for a month after completion. But, he has said he would pay the first mortgage payment etc.
The reason being he needs the funds for a property he is buying up front. Is this something that ever happens? Is this a bad idea to allow this?

Oh, he also does not want it to go through the sols. He is a nice older man with a family who seems very trust worthy...

Any advice appreciated.

Thanks,

Rob

Pee

You need it to go through the solicitors, and there will be problems. If he needs the funds for another purchase, that is what is known as a chain, happens all the time, you all complete and move on the same day.

If he doesn't move out, you will have to get him out and with the correct paperwork in place, this will take a couple of months.

I wouldn't do it, myself.

furndire

I wouldn't do it either. People can say anything which suits them at the time, and convieniently forget later

sunshine_shell

don't do it!!! do everything above board and with solicitors involved!

Caroline73_2

No way! Your house, you move in.

QTPie

If anything, delay completion (for a month)... As soon as you have exchanged, then he is in a very solid position to offer/proceed with another property - he doesn't have to wait until completion.

"Letting him stay beyond completion" is dodgy ground (we have stayed beyond completion in the house we sold, but we sold to an investment buyer and have a formal 6 month AST through a Letting Agent...). No matter how "trustworthy" he seems - a lot of people are not what they seem.

QT

slipp_digby

not sure i understand. he will have the funds on completion day if he wants to make a cash offer to someone. he can then also complete his purchase on the same day, otherwise he will have to stay with someone or rent.

is he trying to avoid creating a chain? i cant see the logic

dont allow it on an informal basis, this will give him opportunity to !!!!!! off without paying and you may have diffiuclty getting rid of him.

tbs624

Why not just confirm with your own solicitor what his/her views are on such an ad hoc arrangement?

robbieh wrote: »

HOh, he also does not want it to go through the sols. He is a nice older man with a family who seems very trust worthy...

I think the first sentence here knocks out the second: I wouldn't entertain it.

Gwhiz

DANGER!!!!! DANGER!!!!!! He's a lovely old man when it suits him. You just wait till it all goes tits up!!!

robbieh_2

Thanks for all of your thoughts they are very helpful.

The problem is we are worried the seller may pull out if the completion is the end of June!

Also, we have discussed this with our solicitors who have said it can be done but not by the end of this month.

princeofpounds

NO NO NO NO NO
NO!

The moment he stays in the house beyond completion and you take any money from him you will create a tenancy!

That will entitle him to 6 months in the property minimum, unless he fails to pay that 'rent' in which case you could get him out in 2 months plus the time it takes to go to court.

If you shut him out before getting a court order you could end up in jail, with a large fine, for illegal eviction.

Tell him all this and tell him it's a non-starter.