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Private Rent to Buy
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kyle_j
Posts: 4 Newbie
All.
We own our house outright and now looking at relocating to a smallholding. The problem is smallholdings are few and far between and trying to get one lined up whilst in a selling chain is virtually impossible. We are not in a position (running a dog shelter) to sell and then rent. A Bridging loan is out of the question for financial income reasons so was thinking of the possibility of "proposing" via an estate agent a "rent to buy" solution.
To this, we know our house will sell very very quickly as its in the right place and when we did put it on the market to test it we had 10 viewings in the first week.
What do you think the chances are of an agent/seller going for a rent to buy solution on a smallholding until ours sells ?
As I say, we run a registered dog sanctuary and want the smallholding to build a run free centre but seem stuck at the moment getting from A to B.
Any advice would be welcome.
We own our house outright and now looking at relocating to a smallholding. The problem is smallholdings are few and far between and trying to get one lined up whilst in a selling chain is virtually impossible. We are not in a position (running a dog shelter) to sell and then rent. A Bridging loan is out of the question for financial income reasons so was thinking of the possibility of "proposing" via an estate agent a "rent to buy" solution.
To this, we know our house will sell very very quickly as its in the right place and when we did put it on the market to test it we had 10 viewings in the first week.
What do you think the chances are of an agent/seller going for a rent to buy solution on a smallholding until ours sells ?
As I say, we run a registered dog sanctuary and want the smallholding to build a run free centre but seem stuck at the moment getting from A to B.
Any advice would be welcome.
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Comments
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I would say the chances are slim to zero How are the people selling to you going to fund their next purchase?0
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Would you be willing to pay for a smallholding now, then be happy not to move to it for another 6-12 months?
No? There's the answer with respect to your house then.0 -
The only possibility I can imagine is an ex BTL or vacant property where the vendor is looking to come out of the game without (immediately) reinvesting the money. The chance that one of these 'rare' smallholdings' is being sold by such a vendor.. slim.0
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Sorry but I doubt that anyone would offer you that. We were in an opposite situation - saw the house we really wanted but the sale of ours fell through. We decided to break the chain and remortgage our current house as a 'let to buy'. That enabled us to take capital out of the house to use as the deposit on the new house and thus break the chain of purchase - we could proceed without selling ours.
Could you consider doing that? Remortgage yours to get a deposit, buy your small holding then put yours on the market once you've moved out?0 -
I was speaking to an agent earlier today and he said that a large percentage of rural smallholdings appear on the market as part of a deceased estate as there are an awful lot of elderly living in them until they pass on. He said that it is worth asking the executors as they have no chain or forward purchase to consider....
The_Logans...Thanks, I'll look into it0
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