Selling question help

pompeyrob

Hi all, just looking for some advice as a first time seller.
We have agreed a sale with a cash buyer, paperwork all with solicitors and only around 1-2weeks in, however when looking around tonight on RM at rentals (what we are looking to do for the short term) noticed my property was on there up for rent from the end of the month? Checked the agents website (who are also dealing with our sale and it's on there too??)
Main questions are:
A) is this actually allowed as we still own the property and is still going through sale process
are we obliged to let potential renters in whilst we still live here and boxing up etc?

Any help appreciated!

Thanks

HappyMJ

pompeyrob wrote: »

Hi all, just looking for some advice as a first time seller.
We have agreed a sale with a cash buyer, paperwork all with solicitors and only around 1-2weeks in, however when looking around tonight on RM at rentals (what we are looking to do for the short term) noticed my property was on there up for rent from the end of the month? Checked the agents website (who are also dealing with our sale and it's on there too??)
Main questions are:
A) is this actually allowed as we still own the property and is still going through sale process
are we obliged to let potential renters in whilst we still live here and boxing up etc?

Any help appreciated!

Thanks

Yes....if you haven't exchanged contracts yet I'd be very annoyed and strongly consider not selling to them.

No....they cannot expect any access until completion and they have the keys.

pompeyrob

Thanks for reply Happy MJ
We are obviously not worried what happens after we are exchanged/completed but were a little 'surprised' to see it being offered around already as we still own!

Baby_Angel

Just slightly off topic. Why don't you rent from your buyer if you intend to rent in the same area. Your moving cost and hassle will be only once.

pompeyrob

Hi would be great as we love the house.....but we've outgrown it-is a 1bed house and we have a 2yo-so have really stayed as long as poss, prob too long!

Hoploz

It shows you have a keen and committed buyer, I think.

I sold a property last year which we had let, and i found it advertised for let by the EA before exchange too. They had a tenant lined up to move straight in after completion. Of course, it was empty so I don't know how many viewings there had been. I would say do not allow potential tenants into your own home before completion. But take it as a positive sign.

eddddy

I don't see any particular problem with what your buyer is doing. I can't see any negative impact on you. (Although it would have been more courteous, if your EA and/or your buyer had told you about it.)

If your buyer gets lots of interest, I guess that will make them even more keen to buy your house.

You don't have to show any potential tenants around the house - unless you want to,

(I guess it's conceivable that your buyer could say "I'll withdraw my offer unless you agree to let prospective tenants view". So you'd then have to make a decision.)

glasgowdan

Charge the buyer £30 per viewing, paid in advance.

MerrilyA

It would have been better if they let you know just to make you aware of it. If you're not ok with it then you can let them know and get it removed.

Baby Angel, a sell and rent back is not legal unless the buyer is registered with the financial conduct authority.