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Moving into a property pre-completion ???
Comments
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He would be a tenant so eviction couldn't happen overnightI think OP would be stuffed if the seller changed his mind after exchange but before the 16th.
Unless the seller puts something into a contract that says OP can live in the house from the 16th, I'm not sure if OP would have any redress if the seller simply changed his mind - so he could potentially be homeless for a fortnight. I suspect seller wouldn't want to have that sort of contract, because his solicitor will strongly advise against it.
On the other hand, most of the time people make agreements and stick to them, regardless of whether those agreements are legally watertight. So, OP might judge that the risk of seller screwing him is minimal.Changing the world, one sarcastic comment at a time.0 -
pinkteapot wrote: »Odd comment. If a mortgage offer was ever pulled after exchange the buyer would be in such trouble that it would make no difference where they were living. A solicitor won't let someone exchange on a purchase until the mortgage offer has been made and I've never heard of an offer being withdrawn post-exchange!
Are all mortgage offers and completions run past you first?0 -
You would be a tenant and he would be a Landlord!!!
Not if no money or other consideration is involved, which appears to be the case here? Not a lot of difference letting friends stay in the house.
Where will the vendor live after exchange if you move in?
If you are happy to assist the vendor you can ask your solicitor to draw up an agreement to protect your interests. The solicitor may advise against the arrangement, but you either act on or ignore that advice. The vendor and their solicitor would have a say and the vendor could pay for your costs of drawing up any arrangement?
obm0 -
I tried to use the garage the night before completion for the last house I bought. The house I was buying was empty.
Their solicitors advised a straight no to this due to the complexities involved in not completing yet.
I understood and that was that.
I am very surprised they are offering this.0 -
I think OP would be OK once he actually moved into to the property - my concern is if the seller changes his mind post exchange but before OP planned to move in.0
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Easy enough to pay a token rent
The seller would be well advised not to touch this with the proverbial bargepole as already mentioned. I
The seller would need certifying if they accepted any rent. They immediately become subject to all the legislation such as GSC and the tenant cannot be evicted for months usually.0 -
Ha ha
Years ago we had a problem when we needed to be out of our property before the completion date on our purchase (don't asked me how we got into this silly situation I can't remember). The couple we were buying from however were having a problem in that their new house would not be ready by completion. So we agreed a compromise. We moved in a couple of weeks before completion with an 'understanding' that they could stay for a couple of weeks after completion.
We neglected to mention this to our solicitors
So yes we all lived together in the same house - the owners to be and the current owners. And then it changed to the new owners and the previous owners. :eek:
No rent changed hands.
Was it wise? No
Did it work? Stressful but sort of
Did it go pearshaped? Yes when the former owners tried to delay moving out! But one day I overheard one of them on the phone telling someone they were going to dig in their heels as long as possible. I went into Nora Batty mode and they were gone by the following weekend.0 -
The sellers are the ones with the problem, ie the ERC. So it's their choice which they accept. Either way the buyer is in a good position to negotiate and make sure they are protected.The seller would be well advised not to touch this with the proverbial bargepole as already mentioned. I
The seller would need certifying if they accepted any rent. They immediately become subject to all the legislation such as GSC and the tenant cannot be evicted for months usually.Changing the world, one sarcastic comment at a time.0
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