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Selling and moving to rented -advice please!

(5 Posts)
thecherryontop Sat 04-Jul-15 17:49:58

Please could I have some wisdom as this is the first time I have sold a property and am unsure of realistic time frames for things and the order in which to do things. -have tried to give enough info so as not to drip feed smile

I have accepted an offer on my property (about 9 weeks ago), survey has been done and dusted, only a few minor enquiries raised and being dealt with, buyer has been round to take measurements so looks like all going to plan (fingers crossed).

When the buyer came they suggested a completion date of 5 weeks away which in theory suits me (they are first time buyers so no chain). But.... The my property is leasehold and we are currently awaiting the "management pack", also, we are planning to move to rented short term (6months) until we find somewhere...if I'm moving to rented should I take out the lease after exchange but before completion so as to give time to move (don't have a lot of stuff really but it's about 25 miles away) -or what would others suggest? Ideally we would take the lease out on completion but this feels like a lot could go wrong? Also -is there likely to be any more hold ups on the leasehold side? All wisdom welcome! winethanks

specialsubject Sat 04-Jul-15 19:56:56

once you have exchange the sale WILL complete or you get lots of money. So sign up for your rental on exchange - but absolutely not before!

You can agree a moving in date, it takes an amount of time after you commit for references etc. You start paying from the moving in date.

an overlap is useful.

don't forget to take out tenants insurance.

LittleBearPad Sat 04-Jul-15 20:10:41

Look for a property now but don't sign the lease until you've exchanged. In terms of reference fees etc don't pay them pre-exchange unless you can afford to lose them.

We had a three week completion when we did the same earlier this year.

Gingerandcocoa Sat 04-Jul-15 20:14:01

Ask for two weeks between exchange and completion so you have enough time to find a place, get references done etc.

thecherryontop Sun 05-Jul-15 03:24:45

Thanks all -will chase upon Monday regarding a longer period between exchanges and completion.

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