who decides the completion date?

sirish1979

Some days ago i posted a thread that the exchange of the contracts is getting delayed.(our mortgage offer is ready)

But without any calls from my side My EA called me today and was telling that our vendor in willing to exchage by the end of april and he told us to go ahead and give notice to our rented place as we need one month notice.

I was a little skeptical of this and called our solicitor to confirm whether we can do it. They say that completion can be delayed because of many reasons and not to be in hurry to give notice as if the completion is not done then we will in a soup as we have to vacate our rented accomodation without having a place to stay.

So I am in two minds whom to listen to?? helppppp :(

elsien

I personally wouldn't give notice until contracts had been exchanged - my completion date changed several times because the idiot at the top of the chain kept fannying around. The date is open to negotiation between all parties, I think - the person I was buying from wanted to complete the day I had an overseas holiday booked for, so I told them it'd have to wait till I got back.

G_M

sirish1979 wrote: »

.......

But without any calls from my side My EA called me today and was telling that our vendor in willing to exchage by the end of april and he told us to go ahead and give notice to our rented place as we need one month notice.

Do you mean Completion?

Either way, do not give notice till you Exchange contracts. Delays can happen at any time till then.

Ask for a one month gap betwen Exchange and Completion, then you can give your months notice when Exchange takes place.

As for who decides - it is a joint decision by all the parties involved including you. Everyone needs to agree though some people tend to be moe pushy than others about their preferred date.

kingstreet

Right.

Everyone in the chain gets their heads together and agrees on a completion date which suits everyone.

Once you've done that, the solicitors exchange contracts with the agreed completion date.

If you have to give a month's notice, I suggest you make clear to the others in the chain you'd like to exchange today, with completion in thirty days, and hope everyone else agrees.