Is it possible to rent the house your buying during the conveyancing process ?

ID1_2

The house I'm buying is totally empty.
I'm a cash buyer.
I would like to get in before the move in date to start moving my stuff in so it's not such a big upheaval on the day.
Is it possible for me to rent the house for a month? and start moving in.
Or is it made complicated by solicitors etc?

agrinnall

While it would be good for you, and potentially advantageous for the seller, the problem for the seller would be that it creates a tenancy and if you then decided not to go ahead with the purchase and stayed put the seller would find it difficult to get rid of you. I'm fairly sure their solicitor will strongly advise them not to agree to it.

jen_br

My inlaws did this and drew up an agreement worked for them.

Ulfar

Any solicitor that advises this is a good idea is mad, the risk to the Vendor are massive.

How about if you want to move in earlier, you complete earlier.

ID1_2

Ulfar wrote: »

Any solicitor that advises this is a good idea is mad, the risk to the Vendor are massive.

How about if you want to move in earlier, you complete earlier.

How can I complete any earlier?
I'm a cash buyer and the house i'm buying is empty with no chain.
I'm waiting on the solicitors, they said it can take 5 or 6 weeks

Slinky

If you're a cash buyer, what's stopping you completing earlier?

There have been many threads on this subject on here over the years, the overwhelming opinion being that the seller is putting themselves at enormous risk by doing this, so it's very unlikely, although not impossible, that you'll be able to do it,.

Ulfar

If your a cash buyer and it is a no chain purchase then I wouldn't expect the property to take six weeks to purchase.

SailorSam

If you were a tenant renting and then bought the property isn't that what happens all the time when people buy the Council house they've been living in.

G_M

jen_br wrote: »

My inlaws did this and drew up an agreement worked for them.

Presumably it worked because everything went according to plan.

The problem is, as suggested, if thisngs do NOT go according to plan. As agrinnall said, if you, the buyer, withdrew from the purchase, the seller would be unable to sell with you, a tenant, in place. Big risk for him.

No agreement you drew up could over-rule the tenant's legal rights:

1) Provided the tenant pays rent, the landlord cannot evict within the 1st 6 months (whatever the 'agreement'/tenancy says!)
2) after 6 months, landlord must apply to court. Another 2 - 6 weeks.
3) if tenant still stays, LL must apply for bailiffs - another 1-4 weeks

so it could take the seller/landlord 8 months or more to get vacant possession, during which time, incidentally, the tenant could refuse the LL access for showing the property to prospective buyers, even assuming buyers were willing to waste their time looking at a tenanted property!

If you are a cash buyer, and do personal searches yourself, you could Exchange and Complete in a week. I slightly higher risk than doing forml searches etc, but that is a personal choice.

Werdnal

Has vendor got a BTL mortgage - if not, highly unlikely to get permission for you to move in.

What about LL insurance? Doubt that would work either.

Are they happy to declare whatever rent you are offering to pay them for tax?

Never a good idea, too much to go wrong. GM's advice above is spot on. Regardless of any "agreement", you move in, you become a tenant with all the statutory rights that tenants have. Sale goes wrong, you have a right ot stay for 6 months before vendor/LL can evict you.

ID1_2

G_M wrote: »

Presumably it worked because everything went according to plan.

The problem is, as suggested, if thisngs do NOT go according to plan. As agrinnall said, if you, the buyer, withdrew from the purchase, the seller would be unable to sell with you, a tenant, in place. Big risk for him.

No agreement you drew up could over-rule the tenant's legal rights:

1) Provided the tenant pays rent, the landlord cannot evict within the 1st 6 months (whatever the 'agreement'/tenancy says!)
2) after 6 months, landlord must apply to court. Another 2 - 6 weeks.
3) if tenant still stays, LL must apply for bailiffs - another 1-4 weeks

so it could take the seller/landlord 8 months or more to get vacant possession, during which time, incidentally, the tenant could refuse the LL access for showing the property to prospective buyers, even assuming buyers were willing to waste their time looking at a tenanted property!

If you are a cash buyer, and do personal searches yourself, you could Exchange and Complete in a week. I slightly higher risk than doing forml searches etc, but that is a personal choice.

Everything seems to be made extremely complicated and difficult in the property game.

Looks like it's all go on the move in date, just would have been so much easier to move all our stuff in in advance, even if only in the garage. As work needs to be done on the house immediately on move in day... it currently has no kitchen, no carpet, no bath etc. but we'll survive.