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Interesting offer on house, advice please

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  • Interesting offer on house, advice please

    Quick background.

    House on Market 18 months, reduced price again beg Jan. Interest generated.

    We are waiting for our house to sell so we can move to Australia.

    Offer is..

    The couple wish to rents ours until they sell one of theirs. (second marriage, two properties on market)

    They then aked for rent they have paid to be deducted from final cost of house price where the property would be bought out right.

    It would all be done via solicitor and contracts etc.

    They wish to know bottom price we are prepared to go to, what rent we want, they did say they would not want to pay top rental rates.

    SO what do we do? it sounds like a let to buy offer. Are they wanting their cake and eating it or is it a sound offer?

    We would need to cover Mortgage and small home improvment loan.
    We would want no landlord recponsibilites.

    Anyone else had experiance like this or views and thoughts most welcome

    Many thanks

  • #2
    Re: Interesting offer on house, advice please

    It sounds like you are losing out on this deal.

    They effectively want free rent (because it is deducted from the purchase price) for an indefinite period, on the assumption that one or both of their own properties may sell at some time in the future.

    In the meantime, you can't continue to market the house, you can't move to Australia without the capital from the house, and you have to find somewhere else to live (at a cost to you?).

    Why do they need to rent your house when they already have two of their own?

    Sounds like they are asking for way too much with no benefit to you.

    So what's the alternative? Leave the house on the market to see if you can get a better offer from less complicated buyers but negotiate with the current buyers to get to a point where a provisional offer is accepted subject to them being able to sell one or both of their houses at some point in the future.

    If they really want your property, and are prepared to pay a sensible price for it, then they'll understand.
    Property for sale in Torquay



    • #3
      Re: Interesting offer on house, advice please

      Thank you, i see your point of view, sometimes it needs a 3rd party to spell it out!

      Rent free indeed !



      • #4
        Re: Interesting offer on house, advice please

        Yes I agree here, it sounds like they want their cake and eat it!


        • #5
          Re: Interesting offer on house, advice please

          In this difficult market, if you want to sell and go out to Australia and the buyer seems trustworthy - negotiate with them.

          I personally missed a sale a few years ago because I wouldn't consider anything that was a bit different.

          My thoughts are - it has to work for you both. Why not sit down and discuss the whole thing with them in detail and see if you can work something out.

          If you are not happy with the entire rent going towards the purchase price, say so or agree a compromise of a third of the rent going towards it.

          Sounds like they are interested and you want to sell and move on without any landlord/management hassle. I wouldn't dismiss an interested seller until you know for sure there isn't a way in which you can work things out.

          As long as you get what you want and your solicitor is happy with the paperwork, I would consider any offer.