Suppose to be exchanging today BUT

SilentBob

I am suppose to be exchanging today on a brand new Persimmon home. When my wife and I first started to look at buying this house, they were pressuring us for a June completion. Now we have everything arranged our end and are ready to exchange and complete, Persimmons Directors haven't signed off on our existing property we are part exchanging, something to do with needing to be alright with terms of lease for re-sale purposes. This means that we couldn't exchange yesterday and need this sorted out before we can exchange today. Bearing in mind they have had the lease details for well over a month, is there likely to be any issue or would they have raised any concerns already as they want the June completion for their half year figures?

Senior_Paper_Monitor

Absolutely standard nonsense, incompetence and double standards of the average new build developer.

It'll sort itself out in the end.

SilentBob

I seriously hope so otherwise I might just go mad!

harvey115

The good thing is that the developer cannot expire the offer (if any) they have agreed with you that has an expiry for the exchange date. This is common with new builds that an offer is usually reserved for a month or so.

I would imagine the solicitor from the developer side is handing both the sale of the new house with your solicitor and the buying of your old house. As the delay is happening due to the developer not finishing off the buying side you should be fine as you are all set to go as you promised.

You should be fine as long as you do not have further issues with the mortgage offer (if any) with its validity dates coming too close to expiry.