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Buyer wants to rent until completion
Comments
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The completion date would be set at the time of exchange and if they didn't exchange by then you serve them notice to exchange (which has it's own penalties) and also build in sufficient penalties into the licence to occupy, to deter them from doing so.Once the "tenant" is in residence what would prevent them from delaying completion indefinitely?0 -
Typo: notice to complete.No reliance should be placed on the above! Absolutely none, do you hear?0
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For the various reasons outlined I've told the selling agent that I would rather not rent it to her unless I have to.
However, Chappers suggestion of using a licence with a penalty clause for every day over the agreed date would seem to be the best solution but it does depend on her having the deposit available.0 -
Even with a license to occupy agreement, the situation is likely to fulfill the criteria of an AST and thus to be one irrespective of the paperwork.
Penalty clauses in a consumer agreement are likely to be considered an unfair term by a court.0 -
For the various reasons outlined I've told the selling agent that I would rather not rent it to her unless I have to.
However, Chappers suggestion of using a licence with a penalty clause for every day over the agreed date would seem to be the best solution but it does depend on her having the deposit available.
For goodness' sake, don't rely on us or your estate agent. Ask for your solicitor's advice.No reliance should be placed on the above! Absolutely none, do you hear?0 -
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On the subject of licence to occupy, in these circumstances, (asjjlandlord has posted) the arrangement is still likely to be viewed as an AST. The property would have become the buyer's main residence.
Buyer should be channelling her energies into kicking her own solicitors behind rather than pushing the OP to take unnecessary risks.
Despite the fact that the majority of (edit: respond) posters have stated that they would avoid such an arrangement ultimately it is , of course, up to the OP to choose how to proceed , hopefully safeguarding himself by seeking personal legal advice from a solicitor who has appropriate knowledge & experience of LL&T law.0 -
Actually, the line of least resistance for the buyer is to extend her existing tenancy a month.No reliance should be placed on the above! Absolutely none, do you hear?0
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