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Vendor wants to rent back for 6 weeks
Comments
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Gosh, I think I have the message, thanks everyone.
I will speak to my solicitor tomorrow and also check out the new regulations on rent back SARB sales. I would not have thought of all these implications myself. Just thought it would be nice to be accomodating if I could.
Cheers0 -
Bear in mind too, that if a LL even for 6 weeks - gas safety cert, notification to HMRC and so on. would be required. Even though your LL is handling the conveyancing he may not be fully au fait with LL & T law: you can offer an Assured Shorthold Tenancy for any length of time you like, but the fact remains that you, as the LL, could not kick the T out before an initial 6 months was up.0
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Alternative to look at is IF you do rent then get Solicitor to withhold 5% of the proceeds that are payable on vacant posession.
Be mindful of the SRB rules but also could look at staged completion where on exchange pay X% to her and only on completion pay the rest, no idea how to go about this but get solicitor to look at it.0 -
Also, once you complete, it's your house .... you'd need to do a full inventory or you'd never know what she broke before/after it was yours.
She can move out and get herself a holiday let, it's off season.
All the above posts are also true and valid ... especially read those that start to lay out your legal obligations as a landlord.
It's simply not practical even if she did leave it perfect and only stayed the 6 weeks.... which of course will drag out ... and then it's Xmas... etc etc0
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