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Can a buyer rent out a property before exchange and how can I resolve this dispute?

13

Comments

  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    mivvin wrote: »
    Well that's quite right but seeing as I've already clearly stated what I am and am not willing to do, he's a bit idiotic to advertise it anyway. What's he going to say to people who want to see it? "Oh I can't actually show you around because I don't own it yet and I haven't reached an agreement with the current owner". It'll make him sound like a complete idiot.

    It's not that far removed from a landlord advertising a property which is still occupied by their current tenant - who might not cooperate with viewings, isn't necessarily going to move out on the date which suits the landlord, etc etc.
  • mivvin
    mivvin Posts: 10 Forumite
    Sorry David but it is totally different. It's like me telling you that I might buy your house and then advertise it to let and send people over to look around
    It. I've no right to do that as I clearly don't legally own the property in any sense. Landlords own the house and that's the difference.
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    On the other side, what harm does it do to your sale for allowing viewings? does it cost you?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • marksoton
    marksoton Posts: 17,516 Forumite
    If i had a good relationship with the purchaser i might consider this scenario.

    But i sure as hell wouldn't if they just assumed they could do so and were dicking me around with exchange and completion.
  • mivvin
    mivvin Posts: 10 Forumite
    csgohan4 wrote: »
    On the other side, what harm does it do to your sale for allowing viewings? does it cost you?

    It's costs me a continued uncertainty of when we'll exchange and that he's serious about buying it. It might cost me my mental well being if I'm honest!
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    mivvin wrote: »
    It's costs me a continued uncertainty of when we'll exchange and that he's serious about buying it. It might cost me my mental well being if I'm honest!



    But as a purely business transaction, it would not cost you financially in the short term, but tbh I would also remarket the property after an ultimatum.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    On second thoughts ...... Its Easter weekend. Prime house selling time. Get in back on today.

    I think the guy is a chancer, most likely hasn't even asked about a mortgage yet, is expecting with renters lined up, he'd get a BTL.
  • Bubblecat
    Bubblecat Posts: 51 Forumite
    eddddy wrote: »
    Out of interest, why wouldn't you agree to it. Is it just the inconvenience of having to allow viewings?

    Would you be prepared to lose a sale over it? And therefore perhaps lose a house you hoped to buy?

    Perhaps it's a fine line between 'punishing' the buyer for cheeky behaviour - and cutting off your nose to spite your face.
    marksoton wrote: »
    If i had a good relationship with the purchaser i might consider this scenario.

    But i sure as hell wouldn't if they just assumed they could do so and were dicking me around with exchange and completion.

    ^^^This

    I doubt I would allow it before exchange but would probably be open to it afterwards. If I was living there I would still want my privacy, not every Tom, !!!! and Harry traipsing through my living room. Even more so if I was concerned the sale could fall through because the buyer might be trying to pull a fast one over his mortgage lender.
  • Hoploz
    Hoploz Posts: 3,888 Forumite
    OP I understand you are reluctant to give this buyer the elbow, because you're in a chain and it's been hard enough getting your sale this far.

    I think I would firstly get confirmation from my solicitor that the buyer and rest of the chain is good to go, ie ready to exchange.

    Then make it absolutely clear to the EA that if he does not exchange by a certain date, eg a weeks time, then you will assume he is a time waster and remarket.

    I would certainly tell him no viewings until exchange, but you are happy to have x weeks after exch before completion, which would have to be agreed by the whole chain of course. Do you live there? Unnecessary disruption at an already stressful time!

    If this BTL idea was a last minute one, it's not an unreasonable assumption. He gets jitters, wants to clear off but the thought pops into mind he could do the BTL thing. Anyone who does not exchange despite being legally in a position to do so, is I'm afraid, delaying deliberately and could pull out any time.
  • mivvin
    mivvin Posts: 10 Forumite
    Ok so I've received some good news. Each previously proposed completion date has been fine with my buyer but the solicitors haven't been able to get it together quick enough and haven't had the decency to ring and say so.

    My buyer is 100% behind my next proposed completion date and it's all on the solicitors to get the contracts exchanged in time.
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