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would you do this

Further to my previous thread - would you sell your house and then rent it back to the buyer just so he could meet his entry date?
Smile though your bank is breaking:)

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    If I sell my house, how can I rent it to anyone?
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I presume the OP is asking if we'd sell our house now, immediately, but continue to stay in it and rent it from the buyer, so the buyer manages to squeeze the sale in before the stamp duty goes up.

    a] I can't see how you could lose, depending on what you expect from the deal in the short-term and long-term
    b] There might be some bitter feelings if the stamp duty date is moved again at the last minute
  • Further to my previous thread - would you sell your house and then rent it back to the buyer just so he could meet his entry date?

    Aye: And assuming you didn't care about getting a bad rental reference you could play the system by not leaving until
    a) After 6 months any section 21 notice becoming valid
    b) Then waiting until being taken to court for possession...and then..
    c) Waiting for the Bailiffs to carry me out...

    Probably 9-12 months overall from sale date??

    Cheers!

    Lodger
  • pawpurrs
    pawpurrs Posts: 3,910 Forumite
    1,000 Posts Combo Breaker
    The OP meant to say would you buy a house and rent it to the vendor, so that he doesnt have to move out, before he is ready.
    On the whole the answer would be no, not in your circumstances, howeverif I was not ready to move in to the property (working abroad etc,) and it suited me as well as the vendor, then I would consider it.
    But again it all depends if the house was a bargain and my dream house, and I felt that the price was so good, it paid for my rental, and the rent covered the mortgage and it was only for a month or so then I*may* consider it, there are so many variables.
    Pawpurrs x ;)
  • Thanks pawpurrs, one to many wines last night and now followed by very little sleep. I reckon the rental would cost me roughly 3k all in with mortgage, my rental and council tax and I hardly think he would pay this or even split it. Also given that he does not want to move twice, what is to stop him staying put if the other one falls through? Think I have answered my own question haven't I?
    Smile though your bank is breaking:)
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