Short term letting agreement prior to closing house sale

2013Lara

Hi all,

Were seven weeks sale agreed on a house 20 minutes from where we are living. Negative equity sale. The bank have agreed to the sale, and prior to the 7 weeks, we were waiting four weeks for them to accept the offer. We've been waiting about a month now for vendors solicitor to answer pre contract queries. No response to most recent letter which was sent to them, I rang the estate agent on Friday to see if he knew what the situation was, still awaiting return phone call. Our daughter starts school the first Wednesday of September down there so were starting to get anxious. No sign of a closing date in sight. I think they need signed contracts to get the permission to sell letter from their bank, but could be wrong on that one. Our solicitor is away from the 26th August for 2 weeks so if we haven't closed before then it'll be at least mid September. Which is far from ideal as well have to drive up and down for school runs, which make things difficult work wise. Our mortgage approval also runs out around that time.

The house is rented, and I don't think he can afford to leave it empty. So what we were thinking of proposing was a short term letting agreement for a few weeks prior to sale closing IF it hasn't happened before our solicitor goes away. Anyone ever heard of anyone doing this? Bad idea? Opinions please!

djmcr

I did it for a month prior to closing on my house last year