Someone up chain demanding very short completion?

pinkdiamonds_2

It is true! It is possible to exchange and complete on the same day, plenty of people do. However, if there is a mortgage involved the lender will still require a minimum of five days notice to transfer the monies.

picardygirl

We had a chain of 7! Started in January 06 completed in June 06 - it was a very stressful and difficult task getting to exchange, but when we finally got there the chain couldnt agree a date! My EA was fantastic she rang the individuals parties concerned herself, to try and sort a completion date out.

My buyer was 35 weeks pregnant and couldnt wait anymore, but the top of the chain were moving into a house that simply wasnt ready to live in. My EA said the only solution was to break the chain !!!!!

We were 3rd up the chain, we agreed to break the chain, the keep the chain together, we'd already lost a buyer at exchange in December the previous year and couldnt go through it again.

The entire chain exchanged on the same day, but we had two completion dates one for the sale of our property a week after exchange, and one two weeks later for the purchase of our property - we had to put a 3 bedroom house into storage and move in with my parents for 2 weeks - it was a nightmare but it worked, luckily my parents have a big enough house to accommodate all 4 of us (2 adults and 2 kids) - i had to commute my kids to and from school everyday and well as go to work etc etc.

Hope you all agree a date that works for all of you.
To the OP, if push came to shove, is there anyone in the chain that could do something like we done for the sake of the chain, apart from the general upheaval we were out of pocket by about £400 for storage costs etc. We would have been more out of pocket if the chain had collapsed and we would have lost arrangement fees, survey fees etc etc.

1echidna

Thanks picardygirl. Our particular chain is being pulled from the top, not pushed from the bottom. Our problem is getting ready at our end and would not be helped by putting our stuff into store. One way to lengthen our time for the move to something more reasonable to us would be for someone in the chain to take out a bridging loan. Very much an expensive last resort though. We know that the EAs will be talking on Monday and we hope something comes out of that.

1echidna

Just an update. No news from solicitor or EAs today. Not wholely surprised.

DVardysShadow

1echidna wrote: »

Just an update. No news from solicitor or EAs today. Not wholely surprised.

Let it roll. The longer it goes, the less chance there is of the people getting their way with a hissy fit.

ClaudiaC_3

wse exchanged today and are completing on the 7th - but only 3 in the chain and 2 properties. Also it's been a long time coming so everyone was very impatient and eager to move. We were supposed to exchange last Monday hence the proposed date of the 7th.

If there are 6 of you, it is very likely that one or more of the other people involved are also unhappy with this date, so even if you go with it for fear of losing this stroppy person in the chain, someone else may object.
Once exchanged it is actually a very stupid thing to pull out as contracts have been exchanged and agreed.

The solicitor has explained clearly to me that all parties involved need to all agree on a date so if someone says no to a date they have to propose a new date and the game can go on until everybody agrees on the same date. In your case that means that the 6 solicitors all need to communicate one to the other about dates, I imagine that could take a lot of phonecalls, messages left to ring back etc, so may not even happen within the same day! Also it wouldn't leave people any time to book removal companies and get a move organised.

Good luck whatever happens!

1echidna

DVardysShadow wrote: »

Let it roll. The longer it goes, the less chance there is of the people getting their way with a hissy fit.

Will certainly do that.

1echidna

ClaudiaC wrote: »

wse exchanged today and are completing on the 7th - but only 3 in the chain and 2 properties. Also it's been a long time coming so everyone was very impatient and eager to move. We were supposed to exchange last Monday hence the proposed date of the 7th.

If there are 6 of you, it is very likely that one or more of the other people involved are also unhappy with this date, so even if you go with it for fear of losing this stroppy person in the chain, someone else may object.
Once exchanged it is actually a very stupid thing to pull out as contracts have been exchanged and agreed.

The solicitor has explained clearly to me that all parties involved need to all agree on a date so if someone says no to a date they have to propose a new date and the game can go on until everybody agrees on the same date. In your case that means that the 6 solicitors all need to communicate one to the other about dates, I imagine that could take a lot of phonecalls, messages left to ring back etc, so may not even happen within the same day! Also it wouldn't leave people any time to book removal companies and get a move organised.

Good luck whatever happens!

Yes I too think that waiting for a date which suits everyone is the right course of action together with as much flexibility as one is in a position to deliver. But the combination of threats and emotional blackmail by this party makes me quite angry.

pawpurrs

I know how you feel, am going through similar myself at the moment.

1echidna

Thanks pawpurrs, have learnt a little of your situation from the sellers support thread. It sounds horrendous. Our situation is progressing and it looks as though the 27th August has been agreed with exchange tomorrow. We will not be celebrating though until it actually happens.