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Buying a house
Hello,
We are going to buy a house which is going to be free in November (owner is moving out then). The deed is planned to be signed in August the latest so it looks like for September and October I might have to pay both mortgage loan and rent for our current residence. How can I try to minimize financial damage here?
Will appreciate any advice. Thank you
If you're buying the house in August, and the seller isn't planning to move out till November, then you should charge them rent for September and October. Sounds to me like you need to speak with your notaire.
Why don't you ask your notary to sign the deed only in October?
The owner is going to pay you rent. Its calculation is based on the precompte immobilier, which actually shows the possible rental income from the house.
Your notary should help you with this and you should ask to have the amount paid when you sing the final act.
I've visited a house for sale where the owners said they would live in the house for another 6 months but they wouldn't pay any rent. That was their condition and we were no more interested in the house. So you should clarify this in advance.
When buying a house you sign an irrevocable agreement to buy and then have 4 months to finalise the deal.
This period can be varied if all parties agree - we moved in 3 months later. Unless you have already signed something that makes it impossible why not agree with the seller that the deal will only be completed when you have vacant possession?
In any case, this is something that your notaris should be able to advise on. The notaris' fee is fixed so it won't cost you any more to take advice.
Have you signed the compromis de vente? The final sale takes place at the latest 4 months later. Do you have your own notaire? This is essential. And there is no additional cost if two notaires are involved - they just split the fee between them. If you have used the seller's notaire, you still have time to appoint a different one. One notaire logically cannot defend the interests of the seller and the buyer. Clearly, if the seller wants to stay on for two months from the date the property becomes yours, he has to pay rent to you and this must be stated in the sale document.
It's odd I presume because they need that time to pay for somewhere new, once you have signed the compromise there is a set time frame and if they or you drop out then there is a penalty. If it were me I'd be asking them for some money, because they are on a win win here sold house no mortgage and no rent for a few months. If they don't want to lose money they will have to make an agreement with you. All the best.
