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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

First time buyer, advice?

13 replies

StarEclipse · 31/10/2019 10:59

Sorry not a aibu but was hoping to get a larger audience for replies.

DH and I are FTB, we have put a low offer in on a house we love. It hasn't had much interest before us.
The sellers say they will accept our offer if they can rent the house from us for 1 month after completion to do works to their new property (it is empty so no chain). They are a family so I can see that to vacate with nowhere to go would be difficult.

We are going to talk to a solicitor before agreeing to anything. But I feel super uncomfortable with this, am I right to feel this way? Surely this will throw up a world of problems?

Has anyone done anything similar? We are complete novices and I am almost hoping that is a simple and usual thing to do

OP posts:

Cloverbeauty · 31/10/2019 11:05

No I wouldn't. That's quite cheeky of them really. Why can't the completion date just be pushed back to when their house is complete?

Cloverbeauty · 31/10/2019 11:06

Plus will it only take a month to complete their house when they have kids? Will they actually pay you for rent, or just stop payments and refuse to leave?

Original poster

StarEclipse · 31/10/2019 11:08

I presume they plan to use the money on our end to fund works on the new house? I just think this might put us into murky landlord/tenant area!

OP posts:

ThreeLittleDots · 31/10/2019 11:08

You won't get a mortgage on it with what they're proposing. You could however agree to completion one month after exchange.

ThreeLittleDots · 31/10/2019 11:09

I presume they plan to use the money on our end to fund works on the new house

They will negotiate a deposit on exchange of contracts, before completion, but it's up to their solicitor whether this is released.

I would get in touch with your solicitor ASAP.

ThisThat · 31/10/2019 11:12

No, I wouldn't advise this. Everyone who sells their house has a short term where they need somewhere to live while waiting to buy/renovate their new house. It's up to them to find a proper short term rental, and once it's yours, completely within your rights to decide you'd rather not rent to anyone!

Cloverbeauty · 31/10/2019 11:12

I presume they plan to use the money on our end to fund works on the new house?

Their problem not yours. No one would agree to this. They can either accept your offer without their additions or keep looking for a buyer. You might be finding out now why they haven't got a buyer.

Not sure I would buy it to be honest at all now. If they accept, they may retaliate out of anger and damage your home.

Igmum · 31/10/2019 11:13

Speak to your solicitor but I think you may end up in trouble with mortgages/contract here. Suspect they need the money from the sale to finance this so they may be stuck too. By all means offer a later completion date but that may not solve their problem

BarbaraStrozzi · 31/10/2019 11:14

No. Definitely not.

SunniDay · 31/10/2019 11:19

Hi, agree with PP your mortgage will require vacant possession.

I dont think you solicitor would allow it either. What would you intend to do if after a month if they don't move out? Evicting someone can take months at the best of times and there can be many reasons a section 21 is not valid including if you haven't fulfilled your obligations as a landlord such as gas checks.

In your negotiations point out that unless they can get a cash buyer no one will be able to agree to it as mortgage terms don't allow it.

If your new home burned down during the month you were renting it out will it be insured? Do you intend to take landlord insurance? Is any landlord insurance that you did take out going to be valid when you don't have the permission of your lender to let it out?

Sorry I don't think you can agree to this but it sounds like you don't want to anyway - they will probably back down when they realise that no one (unless cash buyer and a pushover) could agree.

Parrerdale · 31/10/2019 11:19

We thought about asking our buyer something similar. But eventually decided it was all too complicated.

It'll put you in a difficult position with your mortgage company if you do it officially, you'd have to get an agreement signed up as well through your lawyers, they might not look after the house for that month and any insurance claims are yours. It's not unreasonable of them to ask but also not unreasonable for you to say no. And do it via your solicitors.

Original poster

StarEclipse · 31/10/2019 11:20

Thank you for your responses, all seem to confirm my initial reaction is correct!

Will check with our solicitor but I just can't see how this would work especially with our mortgage conditions

OP posts:

AliceLittle · 31/10/2019 11:57

No way, they can put their stuff in storage and go to a hotel.

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