Out on the streets!

NoddyDog

We have had an offer on our place that seems to be going through. The buyer has paid extra for his solicitors to 'fast track' the process. Yesterday we discovered that this could mean that we complete as early as three weeks time. This leaves us with a problem since we are relocating to a different area (approx 50 miles away) and right now we haven't seen anywhere we like. So what should we do?

Does anyone have info on short term rentals in and around Kent? Short of that should we put our household effects into storage and stay in a hotel since in reality we will probably only need a few more weeks to find the right place?

southsea13

Hi

Don`t be too sure about the `fast track` process until you`ve looked into it more. If you`re paying your rent ok, then you might want to think about digging your heels in until you find somewhere new to live.

If you want to discuss matters more please contact me.

Best Wishes :money:
David

Doozergirl

If you're moving quite far then maybe renting for 6 months would be better than forcing yourslef to find somewhere. It will allow you to ensure you know the area you want to buy in properly and leaves you without a chain beneath you, which is a good thing! It also allows you a bit of leisure to move rather than trying to do it all in one day.

You'll be surprised how much time gets taken up by the sale process. If you are in a chain, then you are looking at an average of three months, often more between having a complete chain and actual completion. Nobody ever has any idea on how long the process takes, so there is no way on earth you would catch me living in a hotel - you could throw a lot of money away in the waiting and the practicalities of living in a hotel anyway

pingu79

Think i'd go with renting for 6 months in your new area as you can get somewhere quickly and if you don't really know the area its much safer to do this than buy somewhere you'd later regret.

Nenen

We are having to sell ours and rent for a while in a new location (move out tomorrow... why oh why am I on here when I have sooooooooo much to do????) :rotfl: :rotfl:

To find rental properties you can look on Rightmove (for letting agents and Estate agents who deal with renting as well as buying/selling). You can also try doing a google search for letting agents and the name of the town as many of the smaller ones don't advertise on rightmove. I think fish4homes might do rental properties too.

If you want to rent privately (saves a lot of money to EAs or LAs) then get copies of the local papers (many are available online), look at the gumtree website and if possible drive to the area you want to rent in and look in shop windows for local ads.
If you or your partner are already working in the new area you could try asking around at work. I did a blanket email to all staff and actually found a colleague who was looking to rent his property... saved us both a lot of money to the LAs!
HTH good luck
Good luck

nollag2006

What is the market like in the area of Kent you are moving to ?

By stepping off the property ladder for six months, you may find the market has pulled away from you.

How is your own house search going ? It sounds like you need to give it more focus, so as to identify the property you want.

Why are your purchasers in such a rush ? Is it something your EA has told them, or do you need to have your solr have a conversation with theirs to agree more realistic timelines.

By all means, scour the local papers in Kent for short term lets, but be wary of staying out of the market for six months

nifferwilko

southsea13 wrote: »

Don`t be too sure about the `fast track` process until you`ve looked into it more. If you`re paying your rent ok, then you might want to think about digging your heels in until you find somewhere new to live.

Think you misunderstood the OP - they are moving out of a house they are selling, not renting.

If you don't know the area, I would rent to get an idea of where the good and bad areas are. If you do, I would look to buy. I would talk to your buyer though - perhaps they are "fast tracking" they are doing it as they are worried you may pull out? You can always exchange, then complete at a much later date (?)

NoddyDog

Thanks for all the advice. To answer some of the questions. Is the house market rising in Kent? Yes, but not nearly as fast as it is here in London. Our property has risen in price by £45K since Nov (when a neighbour sold with an identical layout). That's a bit unnerving since we don't want to be out of the market too long, even in Kent. In the short term it's ok since we can come back to the market with cash in hand and we are looking at a price bracket that is generally above first time buyers. Therefore I would expect to secure a better discount if the seller wants to move fast. However the shortest rental contracts we can find are 6 months and Kent is quite pricey to rent. One place offered to us was £2000 pcm. Six months at that price is silly! Why does our buyer want to move fast? well firstly they were in a bidding match with another couple and several times I guess they thought they'd lost it. Secondly the market is very buoyant in our area and perhaps they want to get the deed done before the market could rise and they may have competition again. Thirdly they are renting right now and I guess they have an option to leave soon.

All things considered I think we will have to rent for at least six months, but hopefully we will find something within a few weeks of moving. Then if we do we will have a buffer for buying. Who knows maybe there won't be too much left on the rental agreement.

Thanks for all the advice. It certainly has steered us towards the renting option.