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Jamie-Law
Jamie-Law, Solicitor
Category: Property Law
Satisfied Customers: 14429
Experience:  Solicitor
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There is a property we’ve recently seen and fallen in love

Customer Question

Hi, there is a property we’ve recently seen and fallen in love with. Ideally we would wanr another 6 months to save for a larger deposit to reduce our mortgage . (The property has recently been renovated and is standing empty chain free) Is there a way we could offer to rent the property first? How would we go about this? Could we exchange and complete later? Any advise would be greatly appreciated. Thanks
Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No, we didn’t know how to proceed?
Assistant: Where is the property located?
Customer: Bedfordshire
Assistant: Anything else you want the lawyer to know before I connect you?
Customer: Not that I can think of :)
Submitted: 11 months ago.
Category: Property Law
Expert:  Nicola-mod replied 11 months ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Jamie-Law replied 11 months ago.

Hello my name is ***** ***** I will help you with your question today. I am reviewing it, please give me a moment.

Expert:  Jamie-Law replied 11 months ago.

Have you approached the seller to see if you could rent first?

Customer: replied 11 months ago.
Hi Jamie,
No, not yet. Would we put this offer to the estate agent they’re using?
Would it more likely be accepted if we went over asking price on an offer?
If this offer to rent first is accepted; how would we proceed? What are the steps in theory? Thanks
Expert:  Jamie-Law replied 11 months ago.

Steps in theory you would rent. You would need a contract saying you have the OPTION to buy once the fixed period has expired.

You could put an increased offer but prices may change in 6 or 12 months.

You can say for example, that you would offer a % in the contract over the market price, or a fixed sum.

That should do it for you.

Can I clarify anything for you about this today, please?

If not, I would appreciate a 5-star rating for my answer, by clicking the button at the top of the screen. I am not paid for my time unless you rate. If you need anything further I am available for a follow up at no extra cost.