ᐅ Bought a house but moving in later – any experiences?

Hello everyone,

I have another question and hope to get some input from experienced members.
Here is our current situation:

We are very interested in buying a house and have already submitted loan inquiries and are currently comparing options.
The house in question is planned to be sold this year but will only be available in the summer. The reasons for this have been given by the seller and are understandable.
Since we are currently renting, we want to avoid overlapping costs in the form of rent and mortgage payments. Does anyone have experience or ideas on how to handle this?

We already have one idea, but I’m not sure if it’s practical or even possible – as I said, we lack experience.
The purchase would be completed this year, and starting from 01.01.2016, the former owners would become tenants and pay me an amount equivalent to the mortgage plus additional costs. This way, repayment of the loan can already begin (since interest-free grace periods for loan drawdowns longer than 6 months usually incur extra costs), but without overlapping financial burdens.

Good idea? Not so good? Is there a better or different approach? If so, how?

Thank you very much for your advice.

This is completely common practice. However, I would remove the rental agreement and instead specify an amount, for example 6 times the interest on the loan (of course without repayment), which the sellers receive less for the house purchase. Consumption of additional costs is monthly – all of this is recorded in the notary contract. The notary will already have these components saved for the contract.

Buy now, but schedule the handover date and the payment due date for the summer and have it recorded by the notary. After the summer, charge a penalty rent equivalent to the local market rent if they have not vacated the house. This way, you won’t incur any costs.

However, if the seller needs the money immediately, negotiate a lower price.

The seller wants planning certainty, which is why the sale should take place this year. The house will only be available from August or September, as stated. However, since the financing must also be finalized this year and the interest-free period on standby loans is usually only 6 months, I currently see no other way to avoid double financial burdens.

@ypg: Why only the interest? We would still have the additional burden from the repayments.

No, repayment should be considered separately and is only beneficial for you. By doing so, you are essentially paying yourself. The loan interest is your expense.
Or do you want to impose a 19% repayment on the sellers—monthly, of course?

There are banks that offer 12 months without a commitment interest rate; it all depends on negotiation.