This idea ok?

[Elke]

Vendors want to rent the house back for 6 months. Loan hasn't yet settled. Our idea is to inform them of the rental amount we were/will publically list it for, if they agree they want to rent it for that, then ask if they agree to deduct the 6 months rent off the sale price of the house.

Win for them is they have 6 months 'rent free' and use their cash for furniture purchases, etc

Win for us - less stamp duty, less loan.

Legally Ok?

Other suggestions or cautions for renting to vendors? How to protect ourselves from them removing the insides of the house one piece at a time while they are there and we are left with a carcass?????

Photos and a detailed condition report would be my two.

Also, there's a pool. We were going to remove it before we rented it out. Can we sell it back to them and say it's their liability?? Put it in the contract? BUt that seems very messy.

Ta

 

[depreciator]

Too messy. Put them on a 6 month lease starting the day of settlement.

It's an above ground pool? Make a condition that the pool is gone before settlement.

But that's just what I reckon.

Scott

 

[chilliblue]

What Scott said or delay the settlement with the requirement that the pool be removed.

That way you are clear about what you are receiving and there are no disputes down the line.

 

[Salvatore1]

To late for the pool as it would be included in your sales agreement as a inclusion. The solicitor should be able to do the 6 mths agreement under licence and deduct from the purchase price. As for the way they leave the property it is the same as when they move out when settlement/sold. You never know until the day and there is no legal requirement. Hard to do an ingoing inspection with their items still in the house. Also if the property is untidy when the new lease commences that is how they have to leave it at worst scenario.