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Thoughts on renting a house back to the sellers?

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    #32
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    JustAThought wrote: »
    I can see how it could go pear shaped for the OP on a number of fromts - but also how it could be handy for the sellers as they might not have somewhere fixed to go yet or may know that their new place might take a few months to be ready/ available. They just might not want to have to pack and move twice within a short timeframe or to have to try and find a short term rent which can be a nightmare.
    You could consider their (detailed) offer and reduce your buying offer price to reflect a fair monthly rental for the delayed
    period they are suggesting - taking into account the 50% hit in rent tax and the put in a date for them to be out - if they and your mortgage loan approval will streatch that far. This would show goodwill and accommode their needs while incorporating the ‘rent’ into a reduced price
    offer and still allow you to gain vacant posession by an agreed date that suits everyone and not being sucked into the renting/no evictions vortex the government has created.

    I’d also be pissed off at their estate agent for
    putting such a wishy washy proposal to
    you with no detail. Unless they did
    just innocently fly it by them without thinking it through. I wonder how many viewings did it get and if there are other viable bidders?
    That is about as good as it can get .
    As you say once the mortgage approval lasts that long and the buyers employment is secure and they are willing to wait it could work


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    #33
    10pennymixup
    Registered Users Posts: 516 ✭✭✭10pennymixup


    brisan wrote: »
    What happens if your mortgage approval runs out and its not renewed
    What happens if you or your partner lose a job or suffer a reduction in income ?
    Too risky .
    Either a normal closing date or look for another property

    Two good points that I'm sure the OP will take into consideration when weighing up how much this particular property is worth to them.


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