Completing but letting the seller move out 2 days later. Bad idea?

AdrianC

It's lovely in theory, and it means the EA can put their feet up for the week before Xmas without having to worry about actual transactions...

But what happens if they decide NOT to move out on the 21st?
Clue: You, as their legal landlord, cannot simply boot them out.
And that's without considering your mortgage lender will insist on vacant possession, and will not allow you to let the property.
And that's without considering that letting to the vendor is illegal unless you're FCA authorised to operate a Sale-and-Rent-Back scheme.
And
and
and
and

davidmcn

GDB2222 said:

SpiderLegs said:

Sounds like the EA just CBA and wants an easy fix to me.
Give them either 21st or whatever date in January is most convenient for you. Ether way it’s NYFP and they need to JFDI ASAP.

(been in management meetings all morning)

I understand JFDI, but NYFP????? 

Even google doesn't seem to know. Something to do with New York, perhaps?

Not Your, er, "Frustrating" Problem, perhaps?

babyblade41

Bad on every level.. surprising how a good vendor relationship pre completion can change to the devil incarnate post completion

pinkshoes

So what happens if the booked removal people on the 21st get Covid so have to isolate. Where are you then going to go? 

I'd say 100% absolutely NO. Even if they are the loveliest people on earth, this has so many pitfalls and ways it can go very very wrong...

Either get them to move their stuff out before hand and store it for a few days (they can book a hotel) or complete on the 21st. 

AskAsk

ktf2020 said:

Thanks for your answers. What is the issue with it not being vacant and how would it affect our mortgage? Sorry, FTB and finding it all difficult to understand...
I will ask about the 21st. The estate agent sales progressor seemed convinced it had to be the 18th otherwise would be January.

sounds like the solicitors are not working on 21 so they can't complete.

NameUnavailable

How about you complete on the 18th and just allow the vendor to store their stuff in the home for the weekend?

They hand over the keys and move out (into a local hotel or whatever) and you can move in or wait until the Monday when their removal people turn up to empty the place?

Not ideal but it could be a solution? You would have to make it clear that you aren't going to be liable in any way for loss or damage to any of their stuff and they should take anything valuable with them when they leave on the 18th.

Perhaps someone else can comment on the legal aspect of this?

TheConfused1

Out of curiosity is this a bad idea if buying from close friends or family too?

davidmcn

TheConfused1 said:

Out of curiosity is this a bad idea if buying from close friends or family too?

Depends how trustworthy they are and whether there's a lender involved.

pramsay13

If you have a relationship with them and trust there won't be any issues, then you can complete on the 18th and then allow your friend to stay in your new house for a few days.

greatcrested

It might be fine.

It might not.

But the consequences if it is not are significat.

Only you can make your own life choices though.