Buyer wants to rent until completion

RobertoMoir

tbs624 wrote: »

No, no it does not. "Wikipedia and property sites"? - gawd bless 'em.;)

Are you saying that the well known legal firm of "some guy wot wrote stuff on wikipedia" won't be available to represent me in court if rely on their advice? Shocking.

chappers

jjlandlord wrote: »

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.

Being an experienced LL I did bring up the point of inadvertantly creating a letting contract but after consulting with other lawyers in his practice he assured me that as part of the contract of sale that this wouldn't be the case and that the buyer would still legally be bound by the contract of sale. I didn't consider the fact about penalty clauses being unfair, as penalty clauses are part of a standard contract , with regards to late completion of the contract.
I was however fully aware that regardless of financial penalty that if the potential buyer refused to complete and also refused to leave that the only recourse would have been to pursue through the usual court procedure.
There would always be some risk in such a procedure and the likelyhood of the whole thing breaking down is only something that could be assessed on an individual basis.