Moving into rented to suit buyer?

(6 Posts)
NoonarAgain Fri 01-Jul-16 11:56:26

Sorry to clog up the property boards with 2 threads in one morning, but i need more advice.

We have good reason to expect an increased offer on our house today but need to think about next steps, due to potential buyer's timing.

We have the kind of house that takes a couple of months to sell. The kind we want to buy is more desirable and there is nothing available right now that suits (except one house, but that may not materialise due to brexit).

If the brexit house doesn't happen then we will have to look at going into rented or losing a potential buyer.

We accept that we will need to go into rented, but want to aim for 3 months from acceptance of offer. However, the buyer will want to move much more quickly, we suspect. this would be very annoying for us for a whole variety of reasons.

Has anyone got experience of negotiations re fitting in with buyers (e.g. them paying your rent)?

Also, what would you say was the shortest reasonable amount of time for a buyer to suggest, from offer to completion with a chain?

any experience of similar?

whois Fri 01-Jul-16 12:32:03

This depends entirely on your negotiation positon.

Fantastic house in a fantastic location that rarely comes up? You dictate the terms.

Desperate not to lose this buyer? Then you need to accommodation them as far as is reasonable.

I think 3 months from acceptance to comletion is very normal and pushing for much shorter than that would be a it unreasonable unless you've said you're ready to move/chain free.

NoonarAgain Fri 01-Jul-16 15:24:51

Hi who is, we are keen not to lose a buyer but most importantly, we realise we will be in a better position if we are cash buyers in this (local) market.

but, if we move out really quickly we will; be paying at least £1500 a month rent when currently we are mortgage free, so its really going to cost us to fit in with him!

Lighteningirll Fri 01-Jul-16 16:23:41

Have you Checked that you can rent for three months? Most contracts are for longer and its very risky. If you do consider it do you sums on renting for longer than three months as you may find you either have to sign a year contract or if you can find a six month contract you still might be there longer.

NoonarAgain Fri 01-Jul-16 16:34:43

I'm happy to take on a 6 month contract, I just don't want it to start yet, lightening.

whois Fri 01-Jul-16 19:18:17

Ah that makes it a harder decision if you are mortgage free. Tricky!

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