received an offer, we can't find anywhere. Should we rent or turn down

Wobblydeb

IF you can find somewhere reasonable to rent, then yes renting can be okay. However it is not easy to find decent places with pets, so take your time and don't be rushed.

We did it, and are still in rented more than 2 years later. Unfortunately we got too comfortable in our first rented place and couldn't agree on a property to buy. It almost felt like it had to be "perfect" to justify buying it.

Then we were given notice on our rental place, and went through a horrid time finding somewhere else decent that would accept the pets. Lots of LLs just give a straight out no, even when you are professionally employed, responsible owners, with enough cash to pay 6 months rent upfront.

Grimbal

Another one here who went into rented & was therefore able to get the place they'd been looking for.

We were selling a tricky property - townhouse with no vehicular access to front or rear, and looking to buy a place the type of which very few still existed (do-er uppers, no previous extension on a "nice" road with a decent garden).

Nothing came up after a month or so of us accepting the offer, so we made the decision to hold on to our buyer & move to rented. It was worth the extra expense & hassle as we were able to get that one house that came up in our search area!

I would call LAs now, just to gauge the likelihood of being able to find somewhere to rent with pets. If it seems a reasonable proposition, then go for it



ETA: if you do go into rented, please remember not to give notice on your rental until after you have exchanged on the new place - you could request a longer gap between exchange & completion from your vendors to accommodate this (we did for our buyers of our townhouse)

FireWyrm

Move and Rent every time. I've always said that this is what we'd do if we sold our house because I've always though that a same-day simultaneous move was just plain making life hard for yourself. Renting for 6-12 months isnt bad, you dont have to worry about stuff breaking and you can then take the time to look around for something you really want to buy instead of having the heartache of a chain disintegrating around you. That's not to say it wont, but if you are 'chain free' and 'cash buyers' at the same time, you're a much better prospect to a vendor than one with baggage attached. Like others have said, take the time to downsize, declutter, throw out and lighten your life a little at the same time, then move someone where you love at a pace that suits you.

DiscoCat54

You might find this thread useful https://forums.moneysavingexpert.com/discussion/4284719

Ignore the negative sounding title as it goes on to give useful tips for securing a rental when you have pets.

I've been in a rental waiting for my new build and I have 4 dogs and 3 cats. I had the choice of 3 properties and was surprised at how flexible LLs can be.

samtoby

If you want to sell sell if you don't take it off the market. You can't want people to take you seriously -considering offering or even viewing if you actually are not sure about selling.

But on the other hand through the conveyancing process you may find that you find something.

Browntoa

another vote for renting

did it in the past and was able to knock 10% off the asking price of the pllace we ended up with as cash buyers with agreed funds and no chain so we could complete quickly

MelaBella

When i was looking for property I came across tons of vendors who were facing similar situation. I dont understand the fear of renting and why people make a problem of this, i mean even if you have pets you would still be able to find smting, just dont tell the LLs you have 4 pets, just say perhaps 1-2, im sure they are not going to come and check, you can always ask friends and family perhaps to accomodate cats for a few months. Find a property to rent with the 6 months breaks clause and try to find the property within this period.

Lister_2

How are all you guys handling any mortgage tie-ins when you rent?

For example, we are in year 4 of a 5 year fix. If we moved on the same day, we would simply get a second mortgage product for a year to cover the difference in house price.

If we rented, we would presumably have to pay off the mortgage and thus incur early repayment penalties?

hazyjo

Generally, yes - although some lenders give you a certain amount of time to continue with the same product. Can't see it being more than 6 months though.

Last year, YBS told me "If it comes to you selling your current home before you move into the one you are buying you will have to pay the early repayment charges then as long as you complete within 6 months on same product you will be refunded your charges."

Jx

kidmugsy

If you can rent in the area where you'd prefer eventually to buy, you'll have a chance to learn whether that really is where you want to settle. That could be invaluable information.