I have put in an application for a house, paid the holding deposit and passed the credit checks. I have just been sent the contract to sign.
The house is not availbale until the 16th August which works for me. I am currently selling my house and the buyer has the surveyor coming next week. The estimated sale date is around the same time as the tenancy for the rented property starts.
I was expecting to sign the contract, pay the deposit and pay the rent closer to the move in date but I have been sent the contract to sign.
I ideally do not want to sign yet, incase the buyer pulls out (still about 3/4 weeks to go) otherwise I would be stuck with my mortgage and the rent for this property.
Issue is, I am concerned that the landlord will pull out if I don’t sign yet. I was hoping there was some sort of cooling off period but after reading the contract, this is not the case. I haven’t spoken to the landlord about it.
Thoughts? I’d even be more secure signing at the beginning of August, still 2 weeks before I was due to move in.
I’d appreciate any/all viewpoints or suggestions.
You will have to speak with the landlord and be honest about what you want and the dates etc.
He may be prepared to hold it for you if he considers that you will be a good tenant worth waiting for and he has been inundated with a batch load of no-hopers to date.
From the landlords point of view you have to realise that if he holds it and then your sale falls through where does that leave him? He will have to go through the whole painful process yet again when you waltz off into the sunset, so be prepared that he may well decline, but be assured there will be other houses for you if this one doesn’t work out.
You know what your dates are so next time look for properties that match them or maybe be upfront from the start before you view.
Thanks for the reply. We told the landlord about the dates at the time of looking around bit didn’t specifically say we would wait until it was final.
I suppose the issue we have is naivety here. We haven’t rented a house for about 5 years. Prior to that, we rented multiple houses and we have only ever known signing on the day and have never known to sign before.
The money isn’t the issue - its more about getting lumbered with 2 lots of bills. Our mortgage is 600 and the rent for the property is 800 so I obviously don’t want to get caught out paying 1400.
The LL is still getting rent until August 16th. The tenants aren’t in it (for specific reasons) but that was all discussed.
I don’t want to spook the LL but we didn’t expect it to be this quick!
I understand your dilemma and that you don’t want two lots of bills. Landlord doesn’t want a void period though which is why he’s trying to line up a tenant now.
Again, from his point of view why would he want to wait until the day to sign, because if you don’t turn up his property is empty until he can find someone else and he has bills related to the property that need covering.
But he may be prepared to wait until nearer the time. He’s clearly chosen you from amongst others.
What do you think you will do?
Will you lose holding deposit if you pull out now?
It’s a difficult one from a Landlord’s point of view as waiting for you could prove expensive if you decide to change your mind because of something cropping up untoward. There is no doubt that the Landlord will continue to look for a tenant if you don’t sign as he will want to let the property as soon as he can. There doesn’t seem to be a quick solution on this one …
I think you have put the cart before the horse, you should of waited until your buyer signs the contract that would make them binding, then look at the rented market. All your doing is messing the LL around, I cant see you are being fair,you may be niave but you know the difference between right and wrong, do you ?
