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Can I protect against gazumping?
leftieM
Posts: 2,181 Forumite
It hasn't happened yet but we are at the 'sale agreed' point with a house since 16th September. Although all the legal stuff is almost done our vendor doesn't want to complete until the middle of Jan. I feel really vulnerable! I don't know exactly how the house prices are in NI any more but I get the impression that they are still increasing at a frightening rate. So if our vendor pulls out we'll have to let our buyers go in order to bridge the new gap, which stinks really. I don't want this sale to fall through. Is there anything I can do to try to increase the chances of the sale going through? Someone could wave 20k at our vendor tomorrow and you'd have to be very strong to walk away from that!
I'm going to see the vendor on Monday to talk about chattels but I'd like to suss her out regarding her attitude to gazumping. I'd love to get your suggestions on how I might go about this and what might be reasonable proposals to put to her.
I'm going to see the vendor on Monday to talk about chattels but I'd like to suss her out regarding her attitude to gazumping. I'd love to get your suggestions on how I might go about this and what might be reasonable proposals to put to her.
Stercus accidit
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Comments
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If the procedure is the same as in England and Wales, you could exchange now and set a completion date for January. Once you have exchaged everything is set in stone.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
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Yes, same as above, go for an exchange now and completion later.You never know how far you can fly, till you spread your wings.0
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silvercar has the answer. If they are commited to selling to you, they should be happy to exchange as soon as possible, when everyyone is ready; and complete on a date agreeable to everyone (or them really :rolleyes:) in January
Everything that is supposed to be in heaven is already here on earth.
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Cheers folks. I'll make sure the vendor is up for that. If not then I'll panic!Stercus accidit0
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Get her to exchange ASAP or you might end up like I did this week.
........and it ain't nice
Good luck
Horizon0 -
Good luck to you Horizon. I hope you are drinking champagne in a new (nicer) house before too long and you put this behind you. It's all rather stressful even when it does go reasonably well - it must be valium time when there are complications.Stercus accidit0
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