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Rent before you buy?

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  • Rent before you buy?

    Hi all.
    I am trying to sell my 2 bed bungalow in North Yorkshire to enable me to move closer to my sons in Wales.
    My wife died back in June and I have no compelling reason to remain at this location.

    I have had the Bungalow on the market for the last month and as yet no interest.
    On the other hand I have found a place I would dearly love to purchase which is
    on the market for approximately £30,000 below my asking price for the bungalow.
    It as been on the market since last February and is vacant.
    The gentleman who lived there passed away earlier this year.
    I guess it is his family who are selling it through a solicitor.
    A thought occurred to me that it may be possible to contact them (I have made a offer)
    to ask if there is any chance of renting the property for a nominal amount monthly
    until mine is sold and then to purchase it for the agreed price.

    Has anyone done this or heard of it working.
    Can anyone see obvious problems that I cannot see.

    Very interested in any feedback.

  • #2
    Re: Rent before you buy?

    Never gone through that situation or heard from anyone but another strike to my mind coming from your case, you could rent out your property too until it get sold and use the rent amount to pay your rent on the other property you wanted to rent out. Does it solve your problem?
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