Agreeing a completion Date

scousejen1983

Just after a bit of advice really. We viewed a property at the end of Jan-when viewing the vendor chatted to us for a while and said he was happy to rent if someone wanted the property straight away. We were thrilled as we end our rental period in April and this seemed like a great timescale to make it achievable around that time.
We've put the offer in- its been accepted and we have the mortgage in place. The estate agent has now said that the vendor has only just started to view properties and is looking to make an offer soon- therefore April doesn't seem achievable for him.
Surely the ball is in our court? We have priced storage and are looking at £500 to store all our belongings for a month so would need to avoid this and our estate agency for the rental property doesn't allow rolling contracts. Has anyone been in this situation who can give me advice??

Browntoa

tell them you will pull out unless completion is April XXth 2016

G_M

as we end our rental period in April

please explain.

our estate agency for the rental property doesn't allow rolling contracts.

The law allows them. The agent cannot not allow them.

See

* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?


Have you been back to the vendor re their earlier offer to move into rented? What did they say?

What exactly are you asking us?

Or use Browntoa's aproach above - though this may backfire on you......

DRP

why oh why do vendors make promises like this...*



*i know why, but it is very selfish

marksoton

It's in your vendors court until exchange.

As for your rental property, the agent is talking tosh. Circumnavigate them and go direct to the landlord.

Even if they don't agree to a periodic tenancy they have to follow a procedure that'll buy you more time.

dc197

1. Don't you automatically go onto a rolling tenancy if you do nothing at the end of the initial period?
2. It's annoying for you to have to wait for the vendor to find somewhere, but to be fair to him he needs to be in the strongest position to find. He will be more attractive now that you're on the end of his chain than if he'd tried to find before agreeing to sell to you.
3. The ball is in your court to do as much as you can to get things moving - i.e. make your official mortgage application, ask him to take down his listing, get your solicitor, etc.
4. But the ball is in his court in terms of other actions, such as finding his next house.

We were/are in your vendor's situation. We agreed to sell before finding to buy, for the reason stated above. Our FTBs are being patient but are surely pleased to hear that we have now found somewhere.
So please be patient.

scousejen1983

Our tenancy agreement ends in the April (fixed rental period of 12 months) sorry. Hmm thats great to know that they have to let me have a month by month if I need to and I do have a good email relationship with the landlord. thanks!

pinkteapot

You don't know that completion will only be delayed by a month (you mention storage for a month). Vendor is looking now. Might find something in the next few weeks. That person may not be chain-free and may need to look. Until the chain is fully-formed (ending with a house with no onward chain), you can't progress and can't even guess at timescale.

Speak to your LL about rolling onto a periodic tenancy, where you just have to give one month's notice. Most LLs won't mind. LAs will try to say no because they love making their contract renewal fees. Try the LL direct.

EDIT - I'm not sure if there's anything to say they HAVE to let you go onto a rolling tenancy, but if you're still in the property and don't renew a contract, it becomes a periodic tenancy by default (in legal terms). Agent might want to start eviction proceedings at that point though. Best route is to try to agree periodic with your LL.

scousejen1983

thanks for all the advice- much appreciated

always_sunny

pinkteapot wrote: »

Speak to your LL about rolling onto a periodic tenancy, where you just have to give one month's notice. Most LLs won't mind. LAs will try to say no because they love making their contract renewal fees. Try the LL direct.

I am in a similar situation and often see this 'talk to your LL, LL won't mind' but does it happen?
When I did that at 5PM, the LL issued a Section 21 by the morning after...

(and I am not a bad tenant, no arrears, always on time, no issues at all)

sam1970

I was in the same position 12 years ago. I put an offer on a house (I was first time buyer) and the vendor lied to me and promised me the earth. He said he was not in a chain and he will move to stay with his parents as soon as we exchange. When we became ready for exchange, he said he still did not find a suitable property to buy !! and that he was not prepared to rent...If I want the house I will have to rent and wait. I had to sign a rental contract for six months but I managed to find another property and complete within 8 weeks (So lost 4 months rent I had to pay). I moved to my new house but kept quite and did not tell the agent of the first vendor who was still under the impression that I was waiting for him. 3 months later his estate agent contacted me to say they were ready for exchange...I had a big laugh over the phone and told them to get stuffed. The vendor phoned me and he was nearly crying on the phone..he offered £10000 discount on the agreed price..told him too late and put the phone down on him. Yes I lost the legal fees and 6 months rent but that will teach him a lesson