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My wife and I have found our dream house, we hope, but are still nervous. Maybe there is something wrong with it that we don't see or hear by just walking through the house. It's a big commitment to buy and have to live there for five years to just break even.
Maybe there are barking dogs, or bad neighbors, or a motorcycle that roars it's engine right outside our window or thin walls (Townhouse).
As a seller, for a fee would you let a serious buyer rent the place for a while to see if they like it before they buy the place?
As a seller, for a fee would you let a serious buyer rent the place for a while to see if they like it before they buy the place?
No way in Hell would I go along with that! What if the would-be buyers damage the property and refuse to pay for the repairs? Worse, what if they decide not to buy - and also not to leave? Allowing them to rent for a week means I'd have to undertake a formal eviction proceeding to get my house back, and depending on local laws that could take months.
Spend as much time as you can scoping out the neighborhood at all hours (evenings weekends, early mornings, mid-day); it increases the chances that you'll spot any noise or bad neighbor issues. As for the townhouse itself - of course it has problems, it's a house! No house is perfect. If you're not ready to face the reality that all houses have flaws and that houses break on a regular basis, you'd best stay a renter.
As a seller, for a fee would you let a serious buyer rent the place for a while to see if they like it before they buy the place?
Nope. Not at all, and definitely not in a market where there are more buyers than sellers.
Plus i'd imagine if an owner was living in the house, they would not be in favor of moving out for a week so a buyer can "test drive" their house. Moving and storage fees alone would be expensive.
Never would agree to it. If a buyer had this much doubt that they wanted to live in my house for a week, I'd expect that they would be a real pain throughout the entire transaction and nitpicking every little thing during the inspection process.
No thank you.
Last edited by rrah; 12-02-2015 at 11:42 AM..
Reason: mistake
Maybe.
If the house was empty.
If I got to charge a high fee (hotel rates).
If I got a huge deposit.
If you passed a credit check and my Google searching.
If I were desperate to sell the house.
Only if the owners have absolutely zero interest in the home outside of you and have had it on the market for many, many months or even years. Then there's a small chance you might be able to make that arrangement.
Just drive around at night and walk the neighborhood.
This. No way would I ever let someone live in my house for a week just to see how it is - even if I live in the safest, quietest, friendliest town in America.
OP, just take a drive by the home a couple evenings during rush hour, and Saturday and/or Sunday afternoon. You'll get an idea of what the neighborhood and general outlying area is like that way.
Besides, by the time you buy it you should know WAY more about it than you would know after just renting it for a while. You will have spent time and money getting it inspected by several inspectors, talking to your realtor about it, talking to your insurer about it, walking around every part of the house and yard, researching the area on the internet, talking to neighbors, visiting the neighborhood and house at all times of day and night, making measurements, possibly bringing in contractors to give you estimates for planned renovations - - it's not like you are buying a can of hair spray at Wal-Mart, after all.
As a seller, for a fee would you let a serious buyer rent the place for a while to see if they like it before they buy the place?
Nope. I wouldn't want to be a landlord again. Plus, there's more potential downsides to that situation than there would be upside.
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