Renting from seller

pretamang

Asking some opinions here, I don't know if people have done this before and whether this may cause more problems.

Our house purchase has hit a stalemate (seller has dispute with their solicitor and cannot give an exchange date). The house is actually empty (was previously rented out) and I am looking for somewhere to live in the meantime.

What do people think about me approaching the seller to rent the house whilst he sorts the problems out? I would be looking for a good discount seeing as they are currently getting nothing and are already costing me by pushing back the date at which I start paying off the mortgage.

To add some detail: mortgage, surveys etc are all done, my solicitor says I can either wait or pull out, but I haven't floated this idea with them yet.

G_M

seller would be mad to agree. Forget it.

He'll become a landlord, with a whole host of legal duties (and tax to pay).

If you change your mind and don't buy, he'll be stuck with you as a tenant for 6... 8... 10 months.

He''l have insurance problems.

He'll be unable to sell to anyone else but you as no one will buy a house with a tenant.

The reasons just go on......

pretamang

I see, but I have met some mad landlords in the past so you never know.

The seller already is (or was) a landlord having only just moved the previous tenants on (confident of an imminent exchange). I'd happily agree to move out if the sale doesn't work, it just seems silly that we are both losing out whilst the house sits empty.

tbs624

pretamang wrote: »

I see, but I have met some mad landlords in the past so you never know.

The seller already is (or was) a landlord having only just moved the previous tenants on (confident of an imminent exchange). I'd happily agree to move out if the sale doesn't work, it just seems silly that we are both losing out whilst the house sits empty.

You may well agree to do just that but the law means that should you change your mind the owner would be unable to apply to the courts to get you out until a min 6 month period had expired.

Totally agree with G_M's points above but you could always discuss the matter direct with the vendor. Whilst G_M and I plus others who frequent these boards wouldn't do as you suggest he may be prepared to run the risks.

G_M

As tbs says, you can only ask.

To you, there's no risk and no problem.

It is the seller who takes the risk. If he's willing..... fine!

Fire_Fox

Many years ago I rented a house I intended to buy, we stayed six months and bought something else. You have nothing to lose by asking.

securityman

How about as a holiday let?

Soundgirlrocks

Hi, we did this our seller asked for a 28 day completion ( Church owned the property and appaerently this is standard practice for charities), then couldn't complete that quickly - very long story! I naively gave notice on our rented place so it was with walk away from the sale and rent for 6 months, or rent the place we wanted to buy. It was fairly simple and the solicitors were happy for it to happen, we agreed a partial refund of the rent when we completed, and we had the security that no one else would buy the flat. The sellers got 6 months rent (5k)which they would 't have. Yes they had responsibilitys as a landlord, but to be honest the only thing they had to do was fix the boiler, and get a gas cert so they profited from the delay, That would be my only consern that the seller will start to drag their heels to keep the rent coming in. Worked for us.

pretamang

well, they didn't go for it. I guess I'll have to find somewhere else to wait it out. Thanks for all the replies