Make alterations to property and/or Rent it before completion

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    Make alterations to property and/or Rent it before completion

    Is it possible to make minor alrterations to a property and/or rent it from a vendor, during the Conveyancing process ?

    I am looking to buy a C3 Semi and convert to C4 Small HMO, and secure the C4 PD, before an artkcle 4 is introduced - the date of which may occur towards the end of the conveyancing process.

    I understand an LDC is lawful upon date of application, and as long as conversion is started/begun/initiated, which would ideally be soon after lockout agreements were signed, the C4 should be gained.

    Alterations would involve fitting a few fire doors, although not even sure that would need to be done, as long as the FD's were bought, carpenters booked etc.that would demostate intention. I understand the HMO license application could also be started, which would also help prove intention.

    I would be willing to give a respectable cash deposit, and provide a lockout agreement between myself and the vendor.

    #2
    Have you exchanged contracts?

    Comment


      #3
      Hi, this is theoretical, so no contacts would have been exchanged, I would want the ability to initiate some of the changes required to be abe to claim the C4 rights.



      Comment


        #4
        No sensible vendor will allow a purchaser into occupation before exchange of contacts. Once contracts are exchanged, if the vendor agrees, the purchaser can be allowed access for any purpose, though It would usually be restricted to decorating, laying carpets, carrying out minor repairs and the like. A purchaser can also, if the vendor agrees, be allowed into occupation paying interest on the balance of purchase money.

        The above was not that unusal in the days when there was almost always 28 days between exchange and completion. These days however the period between exchange and completion is usually much shorter, often with exchange and completion taking place on the same day. Do not be surprised if the vendor says that if you want early access you need to complete.

        Comment


          #5
          Thank you for your points, appreciated

          So a property under offer and conveyancing really needs to get to exchange before anything can be done, either occupying or things such as simple decorating.

          Comment


            #6
            It's a risk to both parties before exchange. You can spend money only to find the vendor pulls out.

            Comment

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