Can I let the Sellers stay in the house for 3 weeks?

GDB2222

And what happens when, after the 3 weeks, the sellers announce that they can’t travel because of COVID regulations? 

moneysavinghero

If a buyer said to me "I wanna save 15k so you are going into a hotel ok, but dont worry coz we gonna pay for your stay" it would not go down too well.

Irishpearce26

Its risky letting them stay but that's up to you.

I cant believe the amount of people saying that you should demand they leave before the SDLT holiday when you agreed an offer knowing that they cant complete until July. Its almost holding someone to ransom.

Niv

Irishpearce26 said:

Its risky letting them stay but that's up to you.

I cant believe the amount of people saying that you should demand they leave before the SDLT holiday when you agreed an offer knowing that they cant complete until July. Its almost holding someone to ransom.

This! I am quite surprised how this thread seems to have turned on the seller here when it is the buyer that is moving the goal posts!

JGB1955

Friends of ours moved out of their house upon completion, then lived in a caravan on the driveway for 2 months before their new build house was ready.  Seemed bizarre at the time, but it worked out well for all parties.

GDB2222

Irishpearce26 said:

Its risky letting them stay but that's up to you.

I cant believe the amount of people saying that you should demand they leave before the SDLT holiday when you agreed an offer knowing that they cant complete until July. Its almost holding someone to ransom.

This is very true, but it’s hard to believe that an extra £15k cost won’t affect prices when the SDLT holiday ends. Essentially, the buyer has agreed a pre holiday price, without the benefit of the holiday. Unsurprisingly, this was a bad idea, and they are looking for a way out. 

Sadly for the sellers, whether they are in the right or not morally, they are in a terrible negotiating position.

Irishpearce26

GDB2222 said:

Irishpearce26 said:

Its risky letting them stay but that's up to you.

I cant believe the amount of people saying that you should demand they leave before the SDLT holiday when you agreed an offer knowing that they cant complete until July. Its almost holding someone to ransom.

This is very true, but it’s hard to believe that an extra £15k cost won’t affect prices when the SDLT holiday ends. Essentially, the buyer has agreed a pre holiday price, without the benefit of the holiday. Unsurprisingly, this was a bad idea, and they are looking for a way out. 

Sadly for the sellers, whether they are in the right or not morally, they are in a terrible negotiating position.

The buyer has said she knew she wouldn't make the SDLT holiday and offered the price knowing she would pay an extra £15k. The OP is actually trying to find a solution that works for both parties.

In my opinion its the buyer who is in a terrible position as they will either run the risk of letting someone stay in their house for 3 weeks or fork out £15k. They agreed that mid July completion was ok to complete but now the SDLT holiday has been extended they are hoping to capitalise which is fine but not at the expense of someone else.

steampowered

lookstraightahead said:

Why do they need to pay anything as a sweetener? They're unlikely to pull out. I think this theyre being ridiculous and in danger of losing a buyer. Who can't rent for three weeks? 

5 grand to let someone buy your house?

This family were always clear that they would not be moving until they emigrated. 

The Op said that he was never expecting to get stamp duty relief. The sale process started long before the stamp duty holiday was being extended.

By asking the sellers to move into rented, it is the Op that is changing the terms of the deal. Not the sellers.

If the Op turned round and simply said "you have to move into rented at your own cost or I'm not proceeding with the sale" - that's no different from gazumping / lowering the price. A lot of sellers would tell you where to go.

It is inconvenient to sell a house from across the Atlantic, sure, but perfectly manageable and not difficult - they have a letting agent. 

GDB2222

Irishpearce26 said:

GDB2222 said:

Irishpearce26 said:

Its risky letting them stay but that's up to you.

I cant believe the amount of people saying that you should demand they leave before the SDLT holiday when you agreed an offer knowing that they cant complete until July. Its almost holding someone to ransom.

This is very true, but it’s hard to believe that an extra £15k cost won’t affect prices when the SDLT holiday ends. Essentially, the buyer has agreed a pre holiday price, without the benefit of the holiday. Unsurprisingly, this was a bad idea, and they are looking for a way out. 

Sadly for the sellers, whether they are in the right or not morally, they are in a terrible negotiating position.

The buyer has said she knew she wouldn't make the SDLT holiday and offered the price knowing she would pay an extra £15k. The OP is actually trying to find a solution that works for both parties.

In my opinion its the buyer who is in a terrible position as they will either run the risk of letting someone stay in their house for 3 weeks or fork out £15k. They agreed that mid July completion was ok to complete but now the SDLT holiday has been extended they are hoping to capitalise which is fine but not at the expense of someone else.

As I said, I entirely agree with you that the seller is absolutely in the right, morally, in insisting on not moving out a day earlier than previously agreed. Nevertheless, £15k is quite a lot of money, and the buyer might just decide to pull out over it. In that case, the sellers will find it difficult to find a buyer who can complete when they want. 

Irishpearce26

GDB2222 said:

Irishpearce26 said:

GDB2222 said:

Irishpearce26 said:

Its risky letting them stay but that's up to you.

I cant believe the amount of people saying that you should demand they leave before the SDLT holiday when you agreed an offer knowing that they cant complete until July. Its almost holding someone to ransom.

This is very true, but it’s hard to believe that an extra £15k cost won’t affect prices when the SDLT holiday ends. Essentially, the buyer has agreed a pre holiday price, without the benefit of the holiday. Unsurprisingly, this was a bad idea, and they are looking for a way out. 

Sadly for the sellers, whether they are in the right or not morally, they are in a terrible negotiating position.

The buyer has said she knew she wouldn't make the SDLT holiday and offered the price knowing she would pay an extra £15k. The OP is actually trying to find a solution that works for both parties.

In my opinion its the buyer who is in a terrible position as they will either run the risk of letting someone stay in their house for 3 weeks or fork out £15k. They agreed that mid July completion was ok to complete but now the SDLT holiday has been extended they are hoping to capitalise which is fine but not at the expense of someone else.

As I said, I entirely agree with you that the seller is absolutely in the right, morally, in insisting on not moving out a day earlier than previously agreed. Nevertheless, £15k is quite a lot of money, and the buyer might just decide to pull out over it. In that case, the sellers will find it difficult to find a buyer who can complete when they want. 

If the buyer pulled out they would ultimately pay the same amount as they would miss the SDLT holiday with another purchase. The seller as stated by someone else can still sell the property if they pulled out even if they are overseas. The seller holds the card on this situation in my opinion.