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Potentially painful vendor!
We've had a good few months of ups and downs whilst trying to buy our next house. To cut a very very long story short we've got a buyer for our house that is ready to exchange ASAP.
We've been made aware from our solicitors that the vendor of our new house is having problems getting his monies in place (he's been insisting that the money is coming and that it's not a problem, he rings me regular) but today he has actually exchanged with his solicitor with the vision of completing one week tommorow? He wanted us to exchange today too.
Now my question is the following: Should the vendor not find his monies in time for his next property does he have any right what so ever to stay in his/our house one week tommorow?
Any help would be really appreciated!
Comments
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He would be in breach of contract. Your solicitor would require him to honour the contract within say 10 days and he would be liable for all your extra costs.
It sounds like he has delayed because there was a problem. I doubt he would have been prepared to exchange had he not sorted out the 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 -
Rights or not, it's difficult to shift him if he's sat on the sofa supping tea and you're outside with your van. 0
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But for legal reasons am I entitled to sling him out just as he's put the 2nd teaspoon of sugar in his mug hahaha! What would the Police do?0
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arrest you for assault...Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
Sorry guys I'm just having a joke.
Seriously does anybody out there have any more thoughts regarding my legal rights please?0 -
What exactly are you asking? Are you asking if they can change their mind after exchange? There was a mammoth discussion on this a while back:
http://forums.moneysavingexpert.com/showthread.html?t=1806123&highlight=welshwoofs+vendor+completeBeen away for a while.0 -
today he has actually exchanged with his solicitor with the vision of completing one week tommorow? He wanted us to exchange today too.
This doesn't make sense to me, can you explain a bit more? The seller doesn't exchange contracts with his solicitor, he exchanges contracts with you. Do you mean he's signed his contract and sent it to his solicitor and wants you to do the same?
If you have exchanged contracts and a completion date is set, he will be in breach of contract if he doesn't move out on that date.
But, if he doesn't, you can't sling him out or involve the police (it's a civil matter, not a criminal matter). If he doesn't move out, your solicitor will serve a "Notice to Complete" on him, which gives him 10 (usually, check your contract to be sure) days to move out. During those 10 days he's liable for your expenses - hotel (reasonable, not the Ritz!), storage of goods, food etc. But, you've have to sue him to get the money out of him.
The good news is, this is very, very rare. I have maybe one case every 2 years.0
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