Moving in on license

[susie100]

Really interested to hear from anyone who has done this?

Our sellers are not going to be able to complete for a month due to a charge on their property. They have somewhere else to move to. The idea is that we exchange subject to this issue getting resolved, we move in on license (so we don't own it) but it solves our 'we are going to be homeless in 2 weeks' dilemma.

Has anyone ever done this?

Never done that but it sounds interesting. Wondering if it could solve our problems? Will be watching this thread with interest.

Thanks Rebl, I will keep you posted! I have never heard of it either. Should get an update from the solicitor today.

Looks like we are going ahead and doing this Rebl.

It works like this -

we exchange and move in on x date as licensees.

We take over all bills, insurance etc as though we had completed. We can't make any structural changes to the house. We have a date by which completion must take place so it can't go on forever.

You don't have many rights as a licensee ususally but in this case as we have exchanged they are obligated to complete by a cetain date.

We are doing it because there is one very specific issue holding up completion (not general slowness along the chain or anything)

Let me know if you want anymore info on this and good luck with your situation.

Whats holding your completion up? Ours is general slowness at the top of the chain. It still sounds like a good idea and that it will work for us. Who is responsible for the bricks and morter so to speak? You know, who pays for maintanence, buildings insurance etc?

Rebl - we have EXCHAGNGED! I am so relieved. There is a charge on the house which is slowing completion. We move in 3 weeks and have a long stop date by which time they have to have sorted the charge and we complete.

During the licensee period we are responsible for the house and its maintenance but you have to insure from exchange anyway I believe.

I hope your solicitor can do the same for you if appropriate, good luck.

We were going to do exactly what you describe susie because our seller had a specific legal issue to resolve with the title of their house before we could buy it - but in the end their solicitor said they weren't going to sort it out so that was the end of that!

But it was a good solution to the problem had their solicitor not been a complete waste of space.

hope it all works out.