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Can we rent to buy whilst we sell?

We have found a property we want but we have to sell both ours and my fathers property to buy it. Is there a way of offering to rent the property whilst ours is being sold so we don't lose it?

Asked on Mar 19 2014, General in Burton-on-Trent | Report content

Answers (1)

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  • Hi Lizzfp, This would all come down to the seller themselves and whether they are willing to wait for the actual sale of the property going through, although you may find some difficulty in finding someone willing to do so in the current property climate. In the midst of the financial crisis, when it seemed like no one was actually buying houses, many people who were looking to move house but could not find someone to buy their own were looking to let their properties to tenants instead, and at this time I would have said that you would have faced very little opposition. However, times have changed, and there are now more people actually buying than there have been at any time since 2007. It means that your sellers will have far less trouble actually acquiring a buyer, so the likelihood of them being able to hold onto the home for you until you are able to actually buy it will be drastically reduced. There is nothing legal to stop you doing so, though, and it will all come down to the preference of the seller themselves, so it might be worth asking to see if they would be interested. Many thanks, Scott

    Answered on Mar 25 2014, Report content

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