Very close to exchanging but can't agree a date

Sensible_Jess

I'm very close to exchanging now, after hassles with my buyer who has caused lots of delays to the process wanting fences moved and insisting on idemnity insurance for an extension on my house (yes I paid the £400 he asked for even though my solicitors and you on here advised that it wasn't necessary - just to get the process moving)
There is a chain of four, we have signed contracts and are just agreeing a moving date before exchanging.
I've learnt today that the people at the beginning of the chain have to move on or before the 18th December as their solicitors closes after that for the Xmas / new year period! No one seems to have be made aware of this until now.
My movers (chosen by the company I work for as they are helping with my relocation) can't do that date or before at such short notice but can do dates the week after. However, no good for the people at the front and they are now threatening to pull out of the sale altogether.

As we are all trying to move before the end of the year so they avoid paying stamp duty (the threshold goes back up in Jan), I think that's a bit cheeky of them (and if they pull out they'll have to pay it on another property anyway). I and my buyer could move in January - it makes no difference to us as my house is above the 175K threshold!

Just needed a rant - I thought all was sorted this week and the easy part was exchanging but looks like I was wrong...

tek-monkey

Maybe they can't afford the extra money to pay stamp duty? I'm so glad I'm getting in beforehand, albeit close, as I really need that money for other things. If I lose my buffer I could run into problems, I don't want that. They may already be stretched, and AFAIK its a cost you can't just put on the mortgage. They either move by the 18th or they pay stamp duty, of course they want to move.

Could you pay their stamp duty? Are they FTBs? Cos its a quite scary process if you're not clued up!

Sensible_Jess

I have no issue with the buyers at the front, I just find it incredible that no-one said that all this had to be done by the 18th December as the solicitor acting for them is closed from then! (wish I got that amount of time off over Christmas)
I also find it hard to believe that their solicitor won't come in for an hour to press a button to make the money go through....

Like I say, they're the ones with an end-of-year deadline and I am aware of the stamp duty threshold ging up from 1st Jan, even though it doesn't directly affect me (my house is selling for above that and I'm not buying a house right now so no chain above me).
I can't help them, as my movers don't have a date they can do before the 18th, and I had also been under the impression that as it's taken this long to get the contacts signed (finally done on Tuesday by my buyer after everyone else had done theirs a week ago) we were always talking about the week of the 20th for moving as it's two weeks from the exchange date.

Thrugelmir

Sensible_Jess wrote: »

I have no issue with the buyers at the front, I just find it incredible that no-one said that all this had to be done by the 18th December as the solicitor acting for them is closed from then! (wish I got that amount of time off over Christmas)
I also find it hard to believe that their solicitor won't come in for an hour to press a button to make the money go through....

Like I say, they're the ones with an end-of-year deadline and I am aware of the stamp duty threshold ging up from 1st Jan, even though it doesn't directly affect me (my house is selling for above that and I'm not buying a house right now so no chain above me).
I can't help them, as my movers don't have a date they can do before the 18th, and I had also been under the impression that as it's taken this long to get the contacts signed (finally done on Tuesday by my buyer after everyone else had done theirs a week ago) we were always talking about the week of the 20th for moving as it's two weeks from the exchange date.

Hold firm. If there's nothing you do, the matter will roll over into January.

Doozergirl

trying to see it from other's point of view. It is your house that has held things up, whether your boundaries are straight or the extensions isn't signed off, yours is an unrelated sale to others who have been waiting.

People will be keen to move in to their new home before Christmas, especially FTBs - it will be really important to them and I can imagine that the gloss is really taken off after you've waited an age for another part of the chain and they're still holding things up because they haven't provisionally booked a date with the removal company.

If the solicitor's aren't open, they aren't open. I don't know anyone who would fancy coming in to 'press a button' (as if that is all) to do it to suit you if they can do it before then. It isn't unreasonable for someone to want to move before Christmas - it's a dream for some and also a time where they have the holiday time to settle. Pushing it to January to cost another £1250-1750 for them I can imagine being a breaking point.

I'd suggest that you speak to your company because there can't be only one company doing removals that they will pay, also perhaps moving it to the 17th will find someone available as less completions take place on a weekday. Someone there must be able to move the goalposts slightly without coming in on their holidays!

I'd consider the other people in your chain. You might be alright and not that bothered, but I'd be unhappy at giving that money to the Government if I didn't have to and I can really see the case for wanting to be in by Xmas as well.

Fire_Fox

Sensible_Jess wrote: »

I have no issue with the buyers at the front, I just find it incredible that no-one said that all this had to be done by the 18th December as the solicitor acting for them is closed from then! (wish I got that amount of time off over Christmas)
I also find it hard to believe that their solicitor won't come in for an hour to press a button to make the money go through....

Like I say, they're the ones with an end-of-year deadline and I am aware of the stamp duty threshold ging up from 1st Jan, even though it doesn't directly affect me (my house is selling for above that and I'm not buying a house right now so no chain above me).
I can't help them, as my movers don't have a date they can do before the 18th, and I had also been under the impression that as it's taken this long to get the contacts signed (finally done on Tuesday by my buyer after everyone else had done theirs a week ago) we were always talking about the week of the 20th for moving as it's two weeks from the exchange date.

There is more work for completion than 'pressing a button', and you don't know that nobody said the solicitor was closed, the message simply didn't get through to you! They are the ones with the end of year deadline but you are the ones insisting on using a certain removals firm, you are being just as awkward as they are.

The stamp duty threshold will affect you if the entire chain collapses because you can't complete before Xmas ... You could pay for another removals firm out of your own pocket to keep this chain together, as easily as they could accept stamp duty. Betcha don't want to tho?

Entertainer

You need a new removal firm. Or a bribe for your current one.

hatcheth

Same thing happened to us. We are breaking the chain, putting out stuff into our new houses garage and going on holiday for a few weeks..

It isn't as bad as it sounds, I would consider it..

pawpurrs

Doozergirls post as allways makes absolute sense. Stamp duty is a huge deal to a FTB, communication throughout the chain is paramount, and this hasnt happened in this case, everyone works to their own schedule and bad agents just liase with the link above and below, not the whole chain, which is vital as any link can make a chain collapse, I allways ask whats happening with the whole chain.
Surley there must be another removal firm that can be sourced? Dont think that this couldnt break the chain it really could if the ftb dont have the extra money they could well pull out, it seems much fairer to me, to have you find another removal company than expect the ftb to stump up the stamp duty, if you dont want to move before this deadline, then offer to pay the stamp duty.