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Can you exchange without a completion date?
trumpton
Posts: 1,070 Forumite
Can you exchange without a completion date? Our EA is suddenly pushing us to complete a week earlier than is convenient ('pressure from bottom of chain'). I said that we hadn't even exchanged yet - they say you can't exchange without a completion date. Is this correct?
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Comments
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Yes, you need to have a completion date set before contracts can be exchangedAnnual Grocery Budget £364.00/£1500
Debt payments 2012 £433.270 -
Setting the completion date is stone is 99% the whole point of exchanging, so you do need the completion date.
The only time you wouldn't have a completion date is if you were exchanging on a completely new build with a developer who hadn't even built it yet, but that's a whole different ball game.
For normal people, buying/selling pre-owned homes, a completion date is an essential part of the exchange process.0 -
Well you could. But it provides everyone a cast iron excuse to walk away from their side of the bargain and say "We will, but we are not ready yet"Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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People have exchanged without a completion date, but often it will result in a thread on here with a horror story of how the timescale has slipped beyond their rental term or their mortgage offer has expired.
Best to have a completion date form part of the exchange, imo.0 -
Okay, that's fair enough then. Thanks everyone for your prompt replies. I am always a bit suspicious of anything any EA says. I've booked the transit. Funny how these things drag on and then all of a sudden they want to move at the end of next week.0
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Do you get a completion date on unbuilt houses? (And is that why they want you to use their recommended solicitor?)0
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