Buying A Home
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Q for those who have sold/are selling a house

If the home you were selling had been on the market for quite a while and you had already moved out, would you be open to renting it while continuing to try and sell it? 

DH and I are learning that finding a decent house to rent in our small hometown is next to impossible.  There are many homes for sale in the area, however, that have been on the market forever.  Someone suggested that we approach some of the sellers and ask if they would be willing to rent to us.  Is this good advice?  I feel weird about it.  

Re: Q for those who have sold/are selling a house

  • I'm not selling a house (i'm buying) BUT.. Several years back - before I was married - my mother and I rented a house while the owners were trying to sell it. All they asked was that we keep it nice and impersonal, but they made money and it was already staged for the buyers. We had to be open to them coming and going and to our surprise, the house sold within 3 months of us moving in - therefore we had to find another place with only 3 weeks notice.  So, something must have worked. I would say that It can't hurt to ask, all they can tell you is "no, not interested".
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  • The exact situation happened to us. Our house has been on the market for over a year now. This past summer our neighbor's friend approached us about renting it out to her. I was 9 months pregnant at the time and we wanted to keep it on for the summer since it was "peak" time but we definitely considered it and didn't find it strange. Another neighbor's friend also approached us about renting a few weeks ago but that situation fell through for us. It's definitely worth a shot. I know we definitely took it into consideration.

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  • That's the other thing that makes me wary of doing it - what if it sells 5 minutes after we move in?  Haha.  I'm so tired of moving, but if this is the only way to find a nice place in our area I guess I'm open to it. 
  • imageSparrowGreen:
    That's the other thing that makes me wary of doing it - what if it sells 5 minutes after we move in?  Haha.  I'm so tired of moving, but if this is the only way to find a nice place in our area I guess I'm open to it. 
    We did not move out of our house while selling so I can't answer your question. We wouldnt be in the situation like that but I would say in your case to ask. If you are renting it, I would assume that they would take it off the market during that time and you would have an agreement to live there x months. I would not rent while they are selling and be responsible for vacating for showings and not knowing when they'll sell.
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  • imagelil_jen051708:
    imageSparrowGreen:
    That's the other thing that makes me wary of doing it - what if it sells 5 minutes after we move in?  Haha.  I'm so tired of moving, but if this is the only way to find a nice place in our area I guess I'm open to it. 
    We did not move out of our house while selling so I can't answer your question. We wouldnt be in the situation like that but I would say in your case to ask. If you are renting it, I would assume that they would take it off the market during that time and you would have an agreement to live there x months. I would not rent while they are selling and be responsible for vacating for showings and not knowing when they'll sell.

    Well it's definitely not ideal for us, but I highly doubt the sellers would want to take it off the market just so we can rent it.  If we did end up with this arrangement, I fully expect to allow them to show the house while we're living there like the PP described.  That would just be part of the sacrifice we'd have to be willing to make to rent a nice home in our area right now. 

  • Yes, we would.  Our house has been on the market since mid-May and our market is just full and depressed. 

    We want to sell the house, but if someone approached us and wanted to rent (short or long term) with the caveat of keeping it nice for showings, we'd do it.  It's empty and we're paying all the bills on it anyhow. 

    We'd probably offer it for rent at the cost of our mortgage payment with utilities included (within reason) due to the inconvenience to the renters.  We'd also consider including a caveat regarding the condition the house should be kept in - including potential weekly walk-throughs by our realtor.

    We'd also be open to pulling the house from the market and just renting, if we liked the person well enough.

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  • imagemrs.jacinthe:

    Yes, we would.  Our house has been on the market since mid-May and our market is just full and depressed. 

    We want to sell the house, but if someone approached us and wanted to rent (short or long term) with the caveat of keeping it nice for showings, we'd do it.  It's empty and we're paying all the bills on it anyhow. 

    We'd probably offer it for rent at the cost of our mortgage payment with utilities included (within reason) due to the inconvenience to the renters.  We'd also consider including a caveat regarding the condition the house should be kept in - including potential weekly walk-throughs by our realtor.

    We'd also be open to pulling the house from the market and just renting, if we liked the person well enough.

    I wish your house was here!  :)

  • imageSparrowGreen:

    imagelil_jen051708:
    imageSparrowGreen:
    That's the other thing that makes me wary of doing it - what if it sells 5 minutes after we move in?  Haha.  I'm so tired of moving, but if this is the only way to find a nice place in our area I guess I'm open to it. 
    We did not move out of our house while selling so I can't answer your question. We wouldnt be in the situation like that but I would say in your case to ask. If you are renting it, I would assume that they would take it off the market during that time and you would have an agreement to live there x months. I would not rent while they are selling and be responsible for vacating for showings and not knowing when they'll sell.

    Well it's definitely not ideal for us, but I highly doubt the sellers would want to take it off the market just so we can rent it.  If we did end up with this arrangement, I fully expect to allow them to show the house while we're living there like the PP described.  That would just be part of the sacrifice we'd have to be willing to make to rent a nice home in our area right now. 

    The sellers MAY want to take it off the market if you're willing to rent. We were going to take it off for a year while we rented it out. It's been on the market for so long we were willing to take a break and try again in a year. You never really know, someone may do the same thing!

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  • imageSparrowGreen:

    I wish your house was here!  :)

    You should clearly just move to Ohio.  Wink

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  • It's worth asking about.
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