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Notifying solicitor of withdrawal
benson2221
Posts: 26 Forumite
Hi
Can someone list a property for rent while in the process of selling it? Long story short is the last part of the process has been delayed and owner has threatened to pull out of sale but has not officially notified my solicitor. I can see there is a listing with another estate agent for the property to be rented out. Is this all above board?
Can someone list a property for rent while in the process of selling it? Long story short is the last part of the process has been delayed and owner has threatened to pull out of sale but has not officially notified my solicitor. I can see there is a listing with another estate agent for the property to be rented out. Is this all above board?
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No rules saying they can't explore various options simultaneously, if that's what you mean.0
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There's no law saying that a seller can't list a property for rent, whilst selling it.
But maybe the buyer should ask the seller (perhaps via the estate agent), why the seller is doing that.benson2221 said:Long story short is the last part of the process has been delayed and owner has threatened to pull out of sale but has not officially notified my solicitor.
The concept of the seller "officially notifying your solicitor" isn't really relevant. If the seller is threatening to pull out, you can tell your solicitor to stop work or not. It's up to you.
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They can advertise it and, I assume, if they get a tenant before you exchange they will withdraw from the sale.
I would speak to the selling agent though. They might not be aware it has been advertised.0 -
Perhaps tell them you are not interested in buying a property if there's a sitting tenant. If you want to move in it may take a long time to get rid of a tenant so best to have the place empty.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Our last landlord put the place on the market and so we moved out. He got a short term tenant in after we left. Ultimately took him 18 months to sell the place and he needed the funds having lost his job and he himself living in rented accommodation (he'd moved further out to get a small house for less than you can charge for a 2 bed flat)0
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Thanks for the replies guys. Just wanted to clarify that but thought as much0
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benson2221 said:Thanks for the replies guys. Just wanted to clarify that but thought as much
You should report this to the EA you are buying through. They may not know about the rental agent and, probably, the contract they have with the vendor will make them liable to pay the EA fees if they were to pull out and let it instead! That alone may make them think twice!
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That's a fair point. I believe the estate agent knows he is thinking of withdrawing and possibly renting but I've seen an advert for rental via another estate agent. As you say that potentially might be a breach of contract with them.NameUnavailable said:benson2221 said:Thanks for the replies guys. Just wanted to clarify that but thought as much
You should report this to the EA you are buying through. They may not know about the rental agent and, probably, the contract they have with the vendor will make them liable to pay the EA fees if they were to pull out and let it instead! That alone may make them think twice!0
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