Should seller pay for my rent, whilst waiting for chain to complete and exchange contracts?

februarybug

***EDIT: Just moved from overseas and chains are totally foreign to me! However, overarching sentiment is NO so thanks for your input and hope you had a good giggle***
Hi there
first post! Would love honesty and experience.
First home buyer here, renting currently.
I've had an offer rejected, and now the seller has found a home they want to move into, and accepted that offer (or asked if it still stands).
I am now in a position to advise whether my offer still stands, and the conditions I intend to put forward are that property is taken off market, and weekly updates on chain progress are provided.
HOWEVER - can I ask for the seller to 'subsidise' my rent, after say 2-3 months elapses and contracts haven't yet been exchanged??
From my point of view, I'd rather be paying off a mortgage, rather than paying rent, and to me it seems ridiculous that I have to bear the cost of renting, because the rest of the chain may not be able to 'get their act together'. My alternative is to go elsewhere and buy a chain free house.
Is this a done thing? Can I ask for this to be included in the terms? Maybe I can reduce the offer price by my monthly rent (or 50% of it), for each full month after January 2020? Or is it unheard of and sort of ludicrous?
Thanks!

Flugelhorn

No unfortunately house buying is expensive and no-one is committed to anything until exchange of contracts

laptop80

I'd tell you to get stuffed if that's any help.

Comms69

februarybug wrote: »

Hi there
first post! Would love honesty and experience.
First home buyer here, renting currently.
I've had an offer rejected, and now the seller has found a home they want to move into, and accepted that offer (or asked if it still stands).
I am now in a position to advise whether my offer still stands, and the conditions I intend to put forward are that property is taken off market, and weekly updates on chain progress are provided.
HOWEVER - can I ask for the seller to 'subsidise' my rent, after say 2-3 months elapses and contracts haven't yet been exchanged??
From my point of view, I'd rather be paying off a mortgage, rather than paying rent, and to me it seems ridiculous that I have to bear the cost of renting, because the rest of the chain may not be able to 'get their act together'. My alternative is to go elsewhere and buy a chain free house.
Is this a done thing? Can I ask for this to be included in the terms? Maybe I can reduce the offer price by my monthly rent (or 50% of it), for each full month after January 2020? Or is it unheard of and sort of ludicrous?
Thanks!

You will be laughed at by everyone involved, save yourself the emabrassment

lincroft1710

Of course you can ask.

But unless the vendor is desperate for you personally to buy the house, I think the answer would be no to any of the ideas or permutation thereof

SallyDucati

Honestly? Never heard such a thing and it does sound a bit ludicrous. Standard timescale I have heard is 3 months but some can take longer particularly in a chain. It's not the rest of the chain 'getting their act together' its all the searches that need doing, legal work etc. You'll don't see this as you've not been through it before. You soon will with whichever house you buy.

scalextric

Just offer a bit less than you initially offered when it was rejected, that will cover some of your rent.

februarybug

righto!
I've just moved from Aus and chains do not exist, so the concept is entirely foreign to me. It sucks for the renter to commit, and then have to wait potentially many months for everything to line up.
I guess we can always pull out before exchange of contracts, but we do like the place.
Thanks for sharing your sentiments. "get stuffed" sums it up quite well!

vroombroom

As others have said you'd get laughed at, not taken seriously and they'd probably reject your offer.

februarybug

gotcha - yes expecting searches and conveyancing to take up to 8 weeks no problem, but worried about chains failing and the process dragging on to 5,6+ months. Thanks for the input though.

Skiddaw1

Good luck with your purchase februrarybug. And it was a nice idea....:)