Buying a house, Vendor wants to rent short term

afterthoughts

Thank you all! Really helpful information

FlorayG

No no no no no!
That's THEIR problem, don't make it yours
Say that you understand their difficulty but you need to move in ( they don't know any different)

TheSpectator

thegreenone said:

afterthoughts said:

The vendor has made contact to say they've alot of work to do on the property they are purchasing and asked if I would consider renting back to them for few weeks.

"A lot of work" to be done in a few weeks ..... mmmmm.......  They need to get a bridging loan to buy the new property and find somewhere else to live while they are doing the work.  Not your problem.

For you:
a)  don't leave the house empty for too long
b)  get empty house insurance or at least let your insurer know
c)  cctv or similar that links to your phone (Blink or similar from amazon)
d)  lights on timers
e)  visit the property regularly

f) change the locks immediately

saajan_12

afterthoughts said:

I wonder if they'd agree to a reduction in asking price if we agree to push the completion date back?

Well pushing completion later just means that they can't complete on their purchase for that long, which will usually mean they can't do the work for that time as they don't own it. . They could ask their vendor to do the work and increase the price to cover it, but that's usually unadvisable as work done by a seller isn't a good idea. 

They do have other options, eg 
1) move in and live through building work 
2) rent elsewhere in the interim (might not be as bad if they can move the majority of furniture and belongings in to the new house, just keeping essentials in a short term rental)
3) separate the transactions by getting a bridging loan for the purchase which they pay off when you later complete the purchase at a later date (but that's expensive)

theartfullodger

No.  As a tenant he doesn;t have to leave until & unless court orders him to and large bailiffs turn up.  Tell him you understand his need but to go rent somewhere else..