Completion Date????

mruddy

Hi,

I was wondering if i could get some impartial advice. My wife and i have purchased a house and are renting our apartment out. We have arranged for a tenant to move in on 1st Oct. When we purchased (Middle of August) the house the vendor stated that they would be able to move out at the end of Sept hence the date for the tenant. However our mortgage offer only came through on Monday Sept 7th and we signed the contract on Friday 11th Sept. When we signed the contract the vendor had not given us a completion date and was talking about the middle of October. Today we are still waiting on a completion date and still have this tenant moving in on Oct 1st. Any suggestions? I know we can play hard ball and threaten to walk away but we both love the house and dont want to risk losing it. We are panicing a bit here so any suggestions would be welcomed.

Thanks

Bufger

once you've signed the contract you're legally obliged to go through with it. You wont be able to pull out and any threat of doing so will just be laughed at.

Talk to them and inform them of the situation.

Richard_Webster

Have you actually committed yourselves to a tenancy agreement with the tenant moving in on 1st October?

Or is there not yet a binding agreement with the tenant?

If it is binding , why did you do that if you had no legal commitment to buy the house to complete on or before that date?

LandyAndy

If you can't get a completion until sometime in October pack your stuff up and put it in store then go and live with family/friends/in a cheap hotel for a couple of weeks.