Renting our property from the buyers - advice!

[aidanhh]

Hi there,

My husband and I have sold (STC) our house. The buyers are looking at it as an investment property to rent out. My husband and I are now looking for a short-term lease to move into after completion, before we move abroad. The buyers have offered to rent our house to us on a short-term lease. It seems like a reasonable idea, all our stuff can stay put, and we wouldn't have to move twice in just a few months. But... I'm just worried if anything were to go wrong with the house (it's a very old house in a conservation area), things happen - damp problems occur when there wasn't a problem before, places need plastering over time, etc... I'm just worried that if we are there when something happens, can the new owners legally do anything to hold us libel? Staying, we become more a of target, than if we just pack up and go.

Thoughts? Advice? Thank you so very much!

[Dougie]

I don't think it's any different to selling to them and moving out. Whether you sell and move out, or sell and remain as a tenant, and sometime down the line some problem emerged with the house, they'd have no comeback on you as it is the buyer's responsibility to get a survey done before they buy, and anything that goes wrong with the house afterwards is nothing to do with the seller.
I can understand your concern though as in theory they might claim a problem with the house and claim that it's something you must have known about when you sold - and because you are their tenant, they might make things awkward for you, or try to withhold your tenancy deposit to cover their costs. But legally I'm guessing they wouldn't have a leg to stand on if they tried this

[aidanhh]

Thank you Dougie... That makes me feel a little better! And it makes sense...

[Dougie_tps]

Hi

I can see what you're saying about being an easy target simply because you're there, but as (the other) Dougie says, they would have no legal comeback on you....Caveat Emptor. That said, you (as vendor) must never intentionally hide or withold information about the property to the purchaser.

[jodieB]

yeah i agree if you stay in the house if anything did happen you may feel more liable as it was your house but thats why you have to look at it asif your brand new tenants as once its sold its sold and any underlying needed work that needed doing should have been said upfront or should have been found when it was surveyed.. its not ur fault just like if a new set of tenants came in it wouldnt be there fault..