Would you go into rented if you run the risk of losing your buyer?

dc197

We considered it but the short term properties rented by the month were extortionate and the reasonable place wanted 12 months. Clincher was our dog though, we doubted anyone would take a dog on a short term let.

phoebe1989seb

Waterlily24 wrote: »

I wouldn't but we are in a position where we don't have a mortgage and it would be money down the drain.

Same here.

We also have five pets (cats & dogs) and more than the average amount of large furniture/stuff including a heck of a lot of mature plants in planters. Moreover, our two moves prior to the most recent one we also had a large hot tub that we were moving with us, all of which combined to make the prospect of going into rented not really viable for us

Since our parents are no longer living we can't even move in with them, although years ago we did do this between a sale and purchase with our worldly goods going into storage for six weeks.

Thrugelmir

wateva wrote: »

I must add we have looked at other properties since a month ago but to no avail.

Hence why it's best to be patient. Sit tight. Even if you found one you are back square one in the process.

wateva

We have put forward the suggestion of renting and offered cash incentive to complete before our mortgage expires in August. All suggestions were turned down

kilby_007

We ended up renting. Our buyers were really good and said they didn't mind waiting, but after the third property we offered on fell through due to structural issues, we ended up renting. It's taken the pressure off massively. I would do it again.

Bonfire_Bride

I would. Or try and move in with someone while it goes through. It also depends how much you want to leave your current house.

Congratulations on the new arrival x

Prothet_of_Doom

sniggings wrote: »

I don't know why more people don't go into rented.

It would save a load of stress.

Yes moving can be stressful, but if you start from the beginning of the process that going into rented is all part of the selling/buying process then I don't think it adds as much stress as not going into rented can add.

You pack anyway, send most of the stuff into storage, limit what you take into rented, seems a no brainer to me.

It does not save any stress at all.

We once made the mistake of selling our house, because the buyers were apparently impatient, because their FTB was getting impatient.
Our First vendor, to my face, when I explained this problem, explained that the 300 year old cottage they were buying (on a !!!!ing whim) had a flying freehold, but the solicitors were resolving this, so yes, they'd definately exchange contracts in 2 or 3 weeks.
So with the offer of staying at my parents for 3 weeks, we put all our stuff in storage, and waited 6 weeks to find that they'd decided not to buy it after all. But if we wanted to wait, they'd have a look to see if there was another cottage they might fall in love with.
We then had an offer accepted on the identical house that almost backed onto that house. And were told by the (Good christian vendors) that they would move into rented accommodation, as they hadn't found the house, but they knew the exact area they wanted, so they knew they'd have to wait a little while until the right house came alone. They promised that in 8 weeks they would exchange whatever.
10 weeks later they pulled out due to my "putting too much pressure on them"
Eventually we found a new house, but it was 5 months living in 2 box rooms in my parents with a toddler. and no stair gate. and a garden pond and.............me having to travel 180 miles to my new job and stay in a bed and breakfast putting on 2 stone I reckon.
Don't do it. Make them wait.

kilby_007

Prothet_of_Doom wrote: »

It does not save any stress at all.

We once made the mistake of selling our house, because the buyers were apparently impatient, because their FTB was getting impatient.
Our First vendor, to my face, when I explained this problem, explained that the 300 year old cottage they were buying (on a !!!!ing whim) had a flying freehold, but the solicitors were resolving this, so yes, they'd definately exchange contracts in 2 or 3 weeks.
So with the offer of staying at my parents for 3 weeks, we put all our stuff in storage, and waited 6 weeks to find that they'd decided not to buy it after all. But if we wanted to wait, they'd have a look to see if there was another cottage they might fall in love with.
We then had an offer accepted on the identical house that almost backed onto that house. And were told by the (Good christian vendors) that they would move into rented accommodation, as they hadn't found the house, but they knew the exact area they wanted, so they knew they'd have to wait a little while until the right house came alone. They promised that in 8 weeks they would exchange whatever.
10 weeks later they pulled out due to my "putting too much pressure on them"
Eventually we found a new house, but it was 5 months living in 2 box rooms in my parents with a toddler. and no stair gate. and a garden pond and.............me having to travel 180 miles to my new job and stay in a bed and breakfast putting on 2 stone I reckon.
Don't do it. Make them wait.

Yes but your experience is pretty extreme!! We moved into rented in March on a 6 month tenancy agreement, giving us a while to look for the right house, selling pre-Brexit. We've got the added benefit that we're able to live in the area for a while without committing to it, we're not worrying about doing the house up or anything like that and it's quite refreshing not to be in DIY mode as soon as I walk through the door after work!

To the OP, plan it out properly and find the right rental property, don't try and move in 'short term' with family etc in a less than suitable location!

jimbog

Prothet_of_Doom wrote: »

It does not save any stress at all.

We once made the mistake of selling our house, because the buyers were apparently impatient, because their FTB was getting impatient.
Our First vendor, to my face, when I explained this problem, explained that the 300 year old cottage they were buying (on a !!!!ing whim) had a flying freehold, but the solicitors were resolving this, so yes, they'd definately exchange contracts in 2 or 3 weeks.
So with the offer of staying at my parents for 3 weeks, we put all our stuff in storage, and waited 6 weeks to find that they'd decided not to buy it after all. But if we wanted to wait, they'd have a look to see if there was another cottage they might fall in love with.
We then had an offer accepted on the identical house that almost backed onto that house. And were told by the (Good christian vendors) that they would move into rented accommodation, as they hadn't found the house, but they knew the exact area they wanted, so they knew they'd have to wait a little while until the right house came alone. They promised that in 8 weeks they would exchange whatever.
10 weeks later they pulled out due to my "putting too much pressure on them"
Eventually we found a new house, but it was 5 months living in 2 box rooms in my parents with a toddler. and no stair gate. and a garden pond and.............me having to travel 180 miles to my new job and stay in a bed and breakfast putting on 2 stone I reckon.
Don't do it. Make them wait.

Why didn't you get a stair gate and not cover the pond?

glasgowdan

I hope you're keeping an eye out for other houses to buy.

We ended up going into rented as we found ourselves being very fussy about buying a new place. It's been ok, but is expensive. Our mortgage was cleared and we've ended up paying £950/m for a house a similar size for 6 months. No storage fees though.

If I could go back and do it again I'd wait until we had a 100% purchase before agreeing to sell ours, and try and do it all within a chain, but we were in a different situation in that our house sold in 5 days in a desirable area so we should have been picky.

In your shoes, I'd agree that a rental is a good idea.