Exchange before xmas but owners not moving out till new year?

Valli

Years ago this happened to my parents and the people requested to stay in the house for about a week after completion and offered rent. Because they could have gazumped my parents (it was the 70s) and hadn't done my parents let them stay rent free AFAIK... so it's NOT unheard of but it is very much a 'trust' situation...
I believe that there were problems with the property they were moving into.

In the OPs case it seemed like her vendors were trying to save themselves some money (stamp duty) IMHO by completing early but staying put, rather than for any 'acceptable' reason IYSWIM

kmmr

saxo_sazzle wrote: »

Ooooooo there are so many complications that were not even thought about. I will tell them i'll just pay stamp duty if not. Its fine I'm happy now. let the weekend begin!! x

good! Chill...

Both my exchanges had stressful things happen right at the end to do with moving dates. The emotions and the general 'I just want it done' feeling can be pretty overwhelming I know! No other specific advice, just be calm and logical and flexible if needed.

oh, and get a good solicitor, I could't have done it without the constant advice and guidance mine gave me.

Good luck!

saxo_sazzle

They are staying a week now and a contract of some sort will be drawn up. This seems easier. I can't afford another 2k for stamp duty.
They not paying to stay now, so its not fraud.. its with owners permission they are staying
But i need to sort out some sort of insurance. Meh.

Bootski

Saxo sazzle

You said in post No5
"I don't want trouble i just want to have a smooth transaction"

Then in your post No 6
"This situation has got so much worse now" - which was posted about an hour and half later.

This should tell you this is not smooth transaction. It's hard enough, let alone at this time of year. I would NOT give them the benefit of the doubt on this one and get your solicitor moving on it PDQ!!

I'd rather have an empty property than deal with this situation - Hold your stance and Good luck!!

saxo_sazzle

I know... Blackmail wins

roses

saxo_sazzle wrote: »

They are staying a week now and a contract of some sort will be drawn up. This seems easier. I can't afford another 2k for stamp duty.
They not paying to stay now, so its not fraud.. its with owners permission they are staying
But i need to sort out some sort of insurance. Meh.

Why did you agree to let them stay in YOUR house one week rent free when you are not happy with it?

iamana1ias

saxo_sazzle wrote: »

I'm a first time buyer, i don't know anything about this stuff.

Big mistake. This is the biggest purchase you will probably ever make, and you can't be bothered to find out what it involves before you take the plunge?! _pale_

:eek:

Bootski

saxo_sazzle wrote: »

I know... Blackmail wins

Not if you don't let it baby!:D

Turn it around - put a stop on it now. Stay in control and don't be bullied or manipulated. Don't do this stupid rental agreement - sign the contracts, exchange and complete and be done with.

Move in and enjoy - have a gin with a ice and a slice and know its all yours, (apart from what you owe the bank, by hey, that's peripheral!!)

;);)

hileray

My parther was supposed to be moving out before 23rd to complete before 24th so the buyer would save on stamp duty (my partner is moving in with me, so we don't have that issue). Unfortunately the snow has prevented us moving our heavy items. The buyer has agreed to complete on 23rd but give us until 28th to move our furniture! This has all been done on trust, with no additional agreements. What a nice man!

chipsnbrown

I know where you're coming from but strangely, I'm trying to convince the seller to stay in the house I will then own!
They are not going to complete on their new house before the New Year and as a first time buyer I want it all done and dusted. My solicitor has been no help and I've had to do all the work. I've said I'd let them stay where they are for a month under the condition that they pay all the bills. They can't become squatters (well, not easily) because at any time I can take over the bills and turn off the water etc.

This whole thing is called:


Substantial performance

Under the new regime where there is both contract and subsequent completion by a conveyance, SDLT will be charged only once (as indeed is stamp duty under the current regime), though it may be charged on either contract or completion, whichever provides the ‘effective date’. The date of the contract will be the effective date if the contract is ‘substantially performed’ without having being completed. Substantial performance means possession by the purchaser of the whole or substantially the whole of the subject matter of the contract or payment or provision of a substantial amount of the consideration (section 44(4)). Taking possession would include ‘obtaining the keys to the door’ or, if the building is let, receiving the rents. It does not matter that the contract is conditional, for example the assignee of a lease taking occupation pending the landlord consenting to the assignment. If the condition is not satisfied, the SDLT paid can be reclaimed, as indeed also if the contract is subsequently rescinded or annulled. It might be unusual that the purchaser takes possession of the property without at the same time paying a substantial amount for consideration. But it could happen, for example in a family transaction.

The 30 day period for returning and paying the liability is triggered by taking possession even if no consideration is paid and this needs to be borne in mind. What is a ‘substantial’ amount for consideration is not defined, though clearly it will be rather more than the customary 10% deposit.

Hope this helps... both of us!

saxo_sazzle wrote: »

This situation has got so much worse now. I told the solicitor i want them to get out now. He said they were not going to move out till 4th and they are not willing to pay any rent towards staying at the house if they did stay, but will do the money stuff on the 23rd to save paying stamp duty.

I'm going to tell my solicitor i'm going to pay the stamp duty and exchange on 4th, which means they have to pay stamp duty at their end too, sod it!! £1500 more on my costs means they don't live in my house over a week for free just because they have changed their minds about the date they want to move out then thats fine with me!

I feel sick How can they say they want to live in a house that would be legally mine, for free????? What if they didn't let contractors in? What if they didn't move out.. they have squatters rights?! It then turns to sueing someone, not conveyancing! = more costs! This is a nightmare. Why does nothing i ever do go right?