Can I still rent my house?

*Summertime*

I am 3 weeks into a signed contract with an estate agent. It is for 14 weeks sole agency.

It doesn't state however that I can not sell the house and rent it instead. Am I allowed to do this?

G_M

You need to read the contract you signed with the EA.

Is there a fee/penalty for withdrawing the property from the market? It is quite likely.

After all, the EA has spent money as a result of accepting your instructions: sent a photographer round? prepared Particulars? placed an ad in the paper.......... They did this, without charging you (I'm guessing) in expectation that they would earn a fee if/when they find you a buyer.

jamie11

*Summertime* wrote: »

I am 3 weeks into a signed contract with an estate agent. It is for 14 weeks sole agency.

It doesn't state however that I can not sell the house and rent it instead. Am I allowed to do this?

If you are thinking about one of those 'sell and rent back schemes' be very careful. You will get a very low price for your property and you will only have as much security of tenure as a normal AST gives you, so in six months time you may very well have a S21 land on your doormat.

*Summertime*

It doesn't say anything in the contract about a fee for withdrawing the property...I understand the work they have put in already...

*Summertime*

jamie11 wrote: »

If you are thinking about one of those 'sell and rent back schemes' be very careful. You will get a very low price for your property and you will only have as much security of tenure as a normal AST gives you, so in six months time you may very well have a S21 land on your doormat.[/QUOT

Thank you, although I don't think I explained myself, I mean can we 'let' our house while still in a sales contract...we are hoping to keep it and let it out.

Werdnal

*Summertime* wrote: »

jamie11 wrote: »

If you are thinking about one of those 'sell and rent back schemes' be very careful. You will get a very low price for your property and you will only have as much security of tenure as a normal AST gives you, so in six months time you may very well have a S21 land on your doormat.[/QUOT

Thank you, although I don't think I explained myself, I mean can we 'let' our house while still in a sales contract...we are hoping to keep it and let it out.

Do you have a mortgage? If so letting may not be allowed.

Also, are you familiar with all the legal requirements, landlord obligations, tax issues etc of letting?

Are you still planning to keep it on the market whilst you are letting? If so this may cause problems with viewing the property as tenant's can refuse. You will also have a binding contract with the tenant that cannot simply be terminated at the point at which you sell, so will limit the market for buyers who do not want tenants in situ.

Explain to us what exactly you are planning to do with the property and there might be more advice for you.