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Timing Advice, How long to move into rented from buying
debtfreeian
Posts: 146 Forumite
Hi,
It's a long time since I lived in a rented house, but I'm about to exchange contracts on the 28th November with a completion of the 11th December.
My estate agent said don't sign anything with a letting agent until we exchange but now I'm freaking out due to the fairly small gap between exchange and completion.
Am I doing things the right way round? Is that gap too small.
Thanks
It's a long time since I lived in a rented house, but I'm about to exchange contracts on the 28th November with a completion of the 11th December.
My estate agent said don't sign anything with a letting agent until we exchange but now I'm freaking out due to the fairly small gap between exchange and completion.
Am I doing things the right way round? Is that gap too small.
Thanks
0
Comments
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Have you already found a property to move into and just holding back on signing? Or still got to search?
Sounds to me like you should extend the gap, and Complete 3-5 weeks after Exchange.0 -
Hi, I've got a few lined up over the next three days.
Is it normal to have such a big gap between exchange and completion.
Its over Christmas too which is a pain.0 -
I'm confused by what you are doing, perhaps because of your use of the word "buying". Do you actually mean "selling"? Are you currently living in a property that you own, and intend to move into a rental property when you sell? And are you asking how much time you should allow between exchange and completion of the sale so that you can find a rental?
I did this earlier this year and had 4 weeks between exchange and sale, but I still ended up having almost a week between moving out of my house and finally sorting out a place to rent. The period you have seems pretty short but do-able if you have viewed properties and know which one you would like to take, and the LL/LA are happy to work with your timetable.0 -
Yes you've hit the nail on the head. I'm the seller and I'll admit the time between selling and lining up renting seems really short.
I'm viewing today so I'll see what happens.0 -
Not signing a lease until you exchange is the best way of doing it. It would be a right headache signing a twelve month lease only for your buyer to pull out.0
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What has 'normal' got to do with it?debtfreeian wrote: »
Is it normal to have such a big gap between exchange and completion.
If you want a 5 week gap, ask for (insist on) a 5 week gap! (or 6 or 7....)0
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