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FTB and renting
david29dpo
Posts: 3,984 Forumite
we are about to exchange on a flat to a lovely couple who have sold there house to a FTB. when the FTB put the offer to the couple, he pointed out he was 10 weeks short of his 6 month tenancy contract. the couple told me this and we were both happy. all this happened 4 weeks ago so were expecting completion in 6 weeks time. had a call from agent today saying the FTB wont complete till end of feb!!!. agent is selling both flat and house so communication has been good so far but the FTB has come up with a story that he now needs to give more notice on the flat he is renting!!. unless the couple can call his bluff and insist on a 6 week completion, i will have to re-market the flat. the couple are in tears about this but what can i do?
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I don't see why you would have to remarket that flat.
Why not just wait until February for completion? Annoying i know, but not the end of the world, unless there's more to the story.Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
this "has to give more notice" sounds like a huge porky pie to me - tenants only have to give one months notice .......0
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If he has a fixed term ast he should be able to negotiate getting out of it at the most 2 months. I agree It does seem slightly suspicious. Even if he had to pay for the remarketing of his rented flat he should be able to get out of the contract unless the landlord is really really difficult.0
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i also think its suspicious. the FTB definitely said he had to give 10 weeks notice at the time of offer. agents still trying to get hold of him. so would i, round his neck!! i need a quick sale as the flat is empty.0
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You could try compromising by all compromising a bit. He gives appropriate notice and you split the owed rent three ways; he covers part himself and both you and your buyers take a small cut on price. I doubt you'd lose more than £400 each if he's renting in the local area.
You can't be the one to call his bluff as he isn't your buyer, you could ask your buyers to try, but I think like most they'd be nervous of losing him altogether. If you pull the plug on your buyers, they'll probably keep their buyer because of the timescales involved. So you'd be cutting your nose to spite your face.Everything that is supposed to be in heaven is already here on earth.
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update. spoke to agent today, there seems to be no record of this 10 week notice when the FTB first put his offer in, and the girl who took it and told me about it is off this week. however i was told that the completion at the end of feb was always the case!! this is the first i have heard of this and said i would have never had agreed to this when the offer was received. it now seems the FTB has been honest from the start and the agent has chosen not to be. no one at the agents will admit to anything. is this the latest scam so they get there commission?0
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Why don't you what I said, but force the agent into paying your share out of their commission, otherwise walk from them?Everything that is supposed to be in heaven is already here on earth.
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no reason why you can't exchange now and complete in february. Try calling this FTBs bluff and ask if he is prepared to exchange this week; you'll soon find out if he is lying or not.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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we are developers so this delay is not on. our buyers are on the case to bluff there buyers so we will see what happens.0
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good idea. if i can prove something is going on with the agent i can try!!Doozergirl wrote:Why don't you what I said, but force the agent into paying your share out of their commission, otherwise walk from them?0
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