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Delaying completion after exchange of contracts
Bibliophile_2
Posts: 46 Forumite
We are due to exchange contracts on the house we're selling this week. The buyers have agreed to the exchange date, but asked to delay the completion until November, to tie in with their finances. This was too late for us so we eventually agreed to mid October.
How are we fixed if, after exchange, they decide to delay the completion date again?
How are we fixed if, after exchange, they decide to delay the completion date again?
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Comments
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They shouldn't. The completion date is a legal deadline. If they do insist on delaying they'll be responsible for any costs caused by the delay.I was born too late, into a world that doesn't care
Oh I wish I was a punk rocker with flowers in my hair0 -
It is very rare once contracts have been exchanged for the completion date to be put back. But it does happen now and again and needs the agreement of both parties. If the other side want to tempt you they would need to offer an incentive. Money or something.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0
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Exchange sets the completion date in stone. They are unable to move it without serious financial penalty ....
Having said that, simply coming here has probably jinxed you as the only place it seems to go t1ts up after exchange is here on the forums
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