Completion on house purchase

cherry76

I am waiting to hear from EA regarding the offer I made on a house today. I am a cash buyer and the sellers want a quick sale, no chain. EA said, they are hoping to complete within 4 weeks. Is this time scale realistic? I have also said I am in rented accommodation and they can stay in the house until end of July as my lease will run out in August. Am I being too trustworthy, they are a nice couple and will move in rental until they find a house. I thought they could stay until I need to move. Will there be any problems with that or am I beint too naive!! Wish me luck I hope my offer is accepted. Thanks

Cazza

4 weeks is is tightish, but as a cash buyer certainly not unrealistic at all. Make sure your solicitor is good. As far as the current owners staying in the property is concerned, your solicitor will probably throw a wobbly! There are lots of legal problems concerning you having vacant possession on completion and being able to get rid of them if they decide they don't feel like moving out when August comes round. More hassle than it's worth TBH.

Gwhiz

It's actually irrelevant when you complete. Exchange is the key - then you have a legally binding contract. I'd go for exchange asap and a completion date to suit you both.

I have gone from seeing a house to completing in 28 days so it's possible.

cherry76

Thanks offer accepted 5% off the asking price, they wanted a quick sale. Although I am happy I do feel for them as they are selling the house the same price, they bought in 2006 and they have done a lot of improvement. My mum says it works both way, they will find a house more affordable. They are such a nice couple.