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Mad rush to complete
Mickeymouse_2
Posts: 3 Newbie
Today is Monday (25 June). As a FTB on a new build, I currently have:
1) Reserve a property, but not exchanged
2) No mortgage offer, but the application is under consideration, with valuation done just last week
3) A property that is nearly completed but not signed off (and certainly not 'snagged' by me)
4) The solicitor has prepared about 70 percent of the required documents.
Any chance of pushing through a completion by this Friday (29 June)????
My answer is, 'very difficult, but not impossible.' What do you think?
1) Reserve a property, but not exchanged
2) No mortgage offer, but the application is under consideration, with valuation done just last week
3) A property that is nearly completed but not signed off (and certainly not 'snagged' by me)
4) The solicitor has prepared about 70 percent of the required documents.
Any chance of pushing through a completion by this Friday (29 June)????
My answer is, 'very difficult, but not impossible.' What do you think?
0
Comments
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99% "No".
There's still a lot of paperwork that could be needed... and they might use the regular post and typed letters.0 -
99.99% No, but you still have a 0.01% chance, so not impossible
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Can I ask why the sudden rush to complete within four days??You were only killing time and it'll kill you right back0
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Developer's interim financial year ends 30 June ......0
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Ignoring the paper issues - you can't complete if the property isn't finished.
Did you mean complete, or did you mean exchange?
An early exchange date would be perfectly normal on a newbuild, but this is subject to the solicitor having all the necessary documentation in place, most importantly the mortgage offer.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Looking to exchange and complete on the same day.0
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Mickeymouse wrote: »Developer's interim financial year ends 30 June ......
I am looking to buy a new build what is the implication of the financial year start0 -
Some builders will accept low offers from buyers if they complete before their financial year-end. A friend of mine got a third off a new-build by doing this.
OP - I think your biggest issue will be getting the house finished. Do you really want the builders doing the finishing touches rushing it?0 -
Bloody builders and their month/quarter/year end nonsense... :mad:
If your mortgage offer has not yet been produced, I'd say your chances of getting it offered, to your solicitor, the report on title turned round and the money in your solicitor's bank account by friday highly unlikely.
On top of that, I can't see the builder having the property ready in time and one or two issues on the contract paperwork from the builder's solicitor and it will all fall apart.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Nothing. They are only bothered about month/quarter/year ends because their local/area/regional/national sales management bonuses depend on getting the money in the bank for those cut-off dates.I am looking to buy a new build what is the implication of the financial year startI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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