Temporarily Renting House We Are in Process of Buying

Dazzajudd

Hi All,

Bit of a strange one here. Currently in the process of buying a property, in which I requested we get contracts exchanged by the 16th so I can hand in notice on our rented accommodation by the 18th without the worry of the purchase falling through.

I have a rescue dog so getting temporary accommodation if the sale doesn't go through on the agreed completion date isn't an option.

Just spoken to our solicitor and apparently there solicitor has delayed answering the queries sent back to him which means an exchange is unlikely for when I want it for.

Would it be possible/legal to ask to rent the property I am buying for a short time (week or two) if the sale hasn't completed by the 31st (which is when completion has been agreed for).

The vendor is moving into rented accommodation so the house will be empty. If I don't give notice in until after the 18th I wouldn't be able to then move for another month, which would mean another month of mortgage cost for my vendor and another months rental cost for us.

Thanks in advance for any advice!

patricia..xx

You could either hand in notice anyway and hope it goes through - risky but depends just how close you are.

Alternatively, accept there will be some crossover when you have both houses. Yes, there's extra cost but having 2 weeks or so overlap isn't such a bad thing, you can clean and decorate the new place and move your stuff slowly. And then clean the rental slowly so you get your deposit back.

Any sensible solicitor will not allow you to rent it. There isn't as much risk for you but as a buyer its huge, you could pull out of the purchase and continue as a tenant for e.g.

floopnoodle

When I worked in an Estate Agents many, many, many years ago it was never allowed as you are likely to find 'niggles' which could affect the sale adversely for the Vendor.

These days I'm not even sure if it is legally allowed.

egoode

It is allowed to rent it as I'm currently renting a place I had an offer accepted on before I started renting. Unfortunately my sale is taking a massive amount of time to progress and even looks like it may fall through now.

If you are going to do this it's best to set it up as a proper rental with a tenancy agreement, deposit etc.

Also don't forget that you could end up in the situation I'm in that the sale falls through and will need to move again.

Soundgirlrocks

floopnoodle wrote: »

When I worked in an Estate Agents many, many, many years ago it was never allowed as you are likely to find 'niggles' which could affect the sale adversely for the Vendor.

These days I'm not even sure if it is legally allowed.

It is I did it!

The risk is for the vendor as you will be a tenant, the vendor will have all the responsibilities that go with being a landlord. TBH most vendors I don't think would consider it though. I bought from a church so it was slightly different situation as they were used to having tenants.

floopnoodle

Sorry, I got confused, it is no longer allowed to rent the property back to the person you bought it from.

Yorkie1

Do not give notice until you have exchanged. Very risky.

You can ask about moving in early but the seller would be strongly advised against it for the reasons already outlined.

I would suggest that you wait to see how much longer it will take to deal with the paperwork, then look to negotiate an exchange / completion date which allows some overlap.

sandsni

I can't imagine many vendors wanting to become landlords (with all the legalities it entails) when there is absolutely no guarantee the sale with go through and then they would have to go through all the legalities of evicting you if you decided you didn't want to leave.


Could you put the dog into kennels for a few weeks and kip with family or friends?

Guest101

floopnoodle wrote: »

Sorry, I got confused, it is no longer allowed to rent the property back to the person you bought it from.

It is allowed just not recommended

Dazzajudd

Cheers for the Replies everyone.

The searches are done, and just enquiries between solicitors are left.

Looking further into the contract that is due to be exchanged it has the following provisions in that I think could be relevant?

If the buyer is not already lawfully in the property and the seller agrees to let him into occupation, the buyer occupies the following terms:

The buyer is a licensee not a tenant. The terms on the license are that the buyer:

-cannot transfer it
-may permit members of his household to occupy the property
-is to pay or idemnify the seller against all outgoings and other expenses in respect of the property
-is to pay the seller a fee calculated at contract rate on a sum equal to the purchase price (less any deposit paid) for the period of license
-is entitled to any rents and profits from any part of the property which he does not occupy
-is to keep the property in as good a state of repair as it was in when he went into occupation (except for fair wear and tear) and is not to alter it
-if the property is leasehold is not to do anything which puts the seller in breach of his obligations in the lease
-is to quit the property when the license ends.

Am I right in thinking this or is it something completely different?