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Delayed Completion Date.
MRSTITTLEMOUSE
Posts: 8,547 Forumite
My buyers wants to exchange in 4 weeks to secure the sale but wont complete for a further 9 weeks.They wont budge on this.They just say it is inconvenient to move till then.
My seller isnt happy and I may lose my house, we are already a couple of weeks near to exchanging contracts if we wanted to and I have paid out over 1k for a building survey and solicitors fees so far.Apart from this I love the house and there is no others like it around this area.
There is no reason why competion couldnt take place they just wont,and as first time buyers they have the upper hand.
Am I being unreasonable but suddenly I feel I have been thrown in the middle of it all.My seller and their estate agents have not been too nice about it and I still dont know what they intend to do,pulling out has been mentioned.Any advice.Thanks in advance.
My seller isnt happy and I may lose my house, we are already a couple of weeks near to exchanging contracts if we wanted to and I have paid out over 1k for a building survey and solicitors fees so far.Apart from this I love the house and there is no others like it around this area.
There is no reason why competion couldnt take place they just wont,and as first time buyers they have the upper hand.
Am I being unreasonable but suddenly I feel I have been thrown in the middle of it all.My seller and their estate agents have not been too nice about it and I still dont know what they intend to do,pulling out has been mentioned.Any advice.Thanks in advance.
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Comments
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You always get these problems with chains.
I would keep quiet until you are all ready to exchange. Then take a back seat and let the EA deal with your buyer and seller directly. Let them know you are happy with whatever they agree. It may even be worth delaying exchange by a week or so (you can always find i's to dot and t's to cross). At that point your buyers will be talking of 8 weeks, I would guess your sellers aren't going to then put the house back on the market, it could take them more than 8 weeks to find another buyer, exchange and reach completion point. They may well grumble but I doubt they would risk losing their buyer then, but pre-warning them now could cause problems.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
You could also get the EA to have a word with your buyers, asking them for the exact reasons they can't move for 9 weeks. It seems ridiculous to me. If they're not pregant or ill then what's the problem? They have obviously paid out money too on surveys and searches so try and get them to see that they are risking the whole chain collapsing and losing their money.What did I do at work before I discovered MSE?!
DFD - WAS: a while ago
NOW - not sure, due to boyfriend going back to uni for masters and now pgce. Worth it in the long run!
Proud to be dealing with my debts!0 -
I'd go along with them, exchange contracts but make sure I had a flippin' large rate on the penalty for non-completion, like at least 8 over base.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0
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