Vendors unusual request, help!

iamana1ias

LillythePink wrote: »

Not only that, but surely you have to have the house insured from the day you complete, therefore, if anything happened to the house from something they have done or left insecure or something, then it would be your insurance that would suffer the claim - not theirs!

If they need a few days, then complete a few days later unless it's a problem for you

WRONG. You have to insure from the date of EXCHANGE, not completion.

SJsmith_2

Yes all of the answers make perfect sense to us, buying and selling is stressful enough without all of this to consider... I wish we never became so friendly with them, now I feel awkward about saying no.

jackomdj

Are you selling your current property & buying in the same transaction? ie same completion date? If so tell them no simply because you need to vacate your house on completion....they would not possibly be able to cross with you for that...surely?!

SJsmith_2

Yes good point Jackomdj, we are selling and buying on the day but our buyer is a ftb so quite flexible.

bitsandpieces

Speak to your solicitor tomorrow and they will tell you you can't/really really shouldn't do this. You can then tell the vendors quite honestly that your solicitor is telling you this isn't an appropriate thing to do.

If it is just a couple of days work (and won't become a week then longer after you agree :eek: ) I don't see anything stopping them from piling their stuff in one room/a garage and staying with a friend or in a hotel for a couple of nights. Even if they need to pay a removal firm for storage, a couple of nights shouldn't cost that much more.

You may be friendly with them and they may seem decent, but they're asking you to trust them with an asset worth a lot of money. I imagine you wouldn't give other recent acquiantances the use of a house (if you would, I'll pass you my phone number ). Repairs can drag on, they may have family problems, there might be an accident with what's now your house... They're asking you to take lots of risk for no real benefit to you.

If they would be unreasonable enough to "get !!!!ed off with us and do something spiteful to the house" then you really wouldn't want them there after completion anyway. If they are really spiteful they might take the towel rail or kill the lawn - but imagine what they could do if still living in the place.

DVardysShadow

SJsmith wrote: »

Hi all,

we are buying and selling a house and due to exchange in two weeks or so. The vendors and us have become quite friendly and yesterday they asked us if we could complete on a day but not move for a couple of days as they need to do some work on the house that they are buying.

I am not adverse and not is our buyer but my husband is dead against it.

Any suggestions? What could go wrong? They are decent people and I can't really see anything wrong with it.....

Would be very grateful to hear some legal opinions if possible.

Many thanks

What this means is that their sellers are not helping your sellers deal with a problem on the house they are buying. This is between the 2 of them and I see no reason for you to be the ones who are taking up the slack. Their problem, not yours.

bitsandpieces

SJsmith wrote: »

Yes good point Jackomdj, we are selling and buying on the day but our buyer is a ftb so quite flexible.

If your FTB gets advice on whether to let you stay in your place after completion, this advice will also be along the lines of 'no, for the love of God no!' Sounds like this wouldn't be workable, even if you and your vendor both wanted it.

tbs624

Don't feel awkward about saying no.

Lots of people manage to live in a property whilst work is done and if they can't then they need to store their stuff for a couple of days and stay with mates or at an hotel.

They may well be aware of mortgage conditions etc but just have thought "let's ask anyway...."

I'd simply say "awfully sorry, we've been advised that we're unable to do that" and leave it at that.

Ulfar

If your inclined to say yes, I will take your money and not give you a house as well. They could sit tight and then you would have to evict them. The legal ramifications of this are quite severe.

You would then be open to being sued by your buyers for breach of contract and this can be very expensive, there was a long thread by Welshwoofs on vendors who wanted to breach a contract read it and it will scare you silly as to the consequences.

So in case you missed the message the answer should be NO. If there is the potential of them causing damage ask your solicitor to make a retention on the funds until you have inspected the property after they have left.

You would also be in breach of your mortgage conditions and if it does go pear shaped then the bank would not be impressed.

blackshirtuk

can't your vendors ask their vendors if they could the work after exchange and before completion?

If that is not possible the people who you are buying from will have to sort out a hotel and storage for a few days if they don't want live in a house with work going on. What is this "work" that makes the house uninhabitable?

As others have said "don't do it"