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Vendor pushed us to except completion while we are aboard.
snow_suzi
Posts: 14 Forumite
Any advice would be much appreciated!
The situation is we will be going away for 3 weeks during x’mas, vender insisted that the purchase need to complete before x’mas or they will withdraw from selling. With mortgage etc. there is not enough time to complete before we fly out. The only way round is we inspect the property before exchange to make sure it is vacant (previously tenants were living in it), exchange of contract before we go, and complete while we are aboard (we will get our relatives to collect keys/check content/change lock for us).
It this too risky??
The situation is we will be going away for 3 weeks during x’mas, vender insisted that the purchase need to complete before x’mas or they will withdraw from selling. With mortgage etc. there is not enough time to complete before we fly out. The only way round is we inspect the property before exchange to make sure it is vacant (previously tenants were living in it), exchange of contract before we go, and complete while we are aboard (we will get our relatives to collect keys/check content/change lock for us).
It this too risky??
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To make it more clear. The vendor has already said they are withdrawing when we rejected the idea. We are only thinking whether they will come back on if we offer our acceptance to complete while we are aboard. But we want to know our risk first before we step into this.0
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Any advice would be much appreciated!
The situation is we will be going away for 3 weeks during x’mas, vender insisted that the purchase need to complete before x’mas or they will withdraw from selling. With mortgage etc. there is not enough time to complete before we fly out. The only way round is we inspect the property before exchange to make sure it is vacant (previously tenants were living in it), exchange of contract before we go, and complete while we are aboard (we will get our relatives to collect keys/check content/change lock for us).
It this too risky??
Yes, massively risky. No way you should exchange until mortgage has come through.
Any idea why vendor is insisting you complete before Xmas? Seems they may possibly be shooting themselves in the foot - if you are in an area where prices are falling.0 -
Vacant possession isn't an issue as it is the sellers responsibility to ensure that vacant possession is given.
You could only exchange once your mortgage offer has come through, but you could leave instructions with your solicitor to exchange once they receive the mortgage offer.
With friends to make sure the heating is on through cold spells etc that wouldn't be a problem.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 -
Mortgage offer has come through. Everything on our side is ready, apart from we won’t be in the UK on the completion date…0
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Why start a new thread on the same subject!!?
You've had loads of advice on this 'vacant possession' issue. Either follow it or make your own decision.
Being abroad on Completion day is in itself no problem providing your solicitor has all the required funds AND signatures etc
However given the particular risks you've already been advised on it seems mad. But you've already been told that so clearly disagree. Though why you're asking again beats me!0 -
Sorry, I felt it is another topic so started new. I will go back to the last one. Thank G_M for your cont. advice.0
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Sounds like a smoke screen so you cannot adequately check vacant possession.
Tell the vendor to take a hike.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
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