Buyer suddenly springs a completion date on us for 3 months time

Ivana_Tinkle

I don't think you'll be able to pay their rent - they'd have to declare it to their mortgage provider, the same as if you were offering to pay their stamp duty or deposit, and the mortgage provider won't like it. (Unless your solicitors are prepared to be a bit "flexible" and not tell the mortgage provider - ours certainly weren't!)

I'd assume your buyers are just clueless rather than they're doing anything sinister - they probably have no idea that this isn't reasonable and I'm sure you'll sort this out once it's pointed out to them!

littlesparkles

Teachers are entitled to a house move day. This is standard. So they would be able to have a paid day off to move house. Could it be that they won't actually have all of their money together in time to move earlier?

CKhalvashi

missile wrote: »

It may be annoying that your purchaser is delaying but it seems you are doing the same.

A good solicitor would have told you about the danger of accepting a bid without agreeing dates for completion and exchange. He should be helping to expedite.

This is true.

It depends how much you want the house and don't want to upset the vendor. We paid the bills on a house from November to January a few years back, as we were being stalled and really wanted the house in question.

If no exchange has taken place yet then you really need to negotiate along the same lines, as for the sake of, say £200, it's really not worth losing it.

CK

dinofabio

hazyjo wrote: »

I certainly would not want to exchange now with a completion in 3 months' time! I also believe that they might start saying the market's dropped and they're lowering their offer

Renegotiate after exchange?

franklee

worriedhouse wrote: »

If they do come back with some bad rental agreement, it's definitely going back on the market for sure.

Why? Surely that's the one thing likely to scupper the sale. You would be better off putting the issues to your vendor first and see if he will wait otherwise you are making the decision to wreck the chain without giving him the chance to save it. If he is of the same mind as you then fair enough back on the market for you both.

worriedhouse

well we finally heard back from our estate agent last night. He managed to get hold of one of the buyers and they have said they definitely need to give two months notice ( and I asked our estate agent to double check their terms of contract so it must be to do with a break clause or something). However, the one hope we have is that they are renting with the same estate agents we are buying from, so my estate agent has said that it's not unheard of, for people to be allowed to leave contracts earlier (providing they can find another tenant) if it helps grease the estate agents palms thanks to progressing a sale. So it's been left to me to ring the estate agent we're buying from and tell them the deal and HOPE that they will try and help regarding the tenancy agreement. I know obviously it comes down to the actual landlord but hopefully they can make it an attractive enough prospect. If we can sort something out, the teachers have said they are willing to move in half term at the end of the month. We spoke to the people we are buying from and they are pretty keen to finish up but have been understanding about the whole thing so FINGERS CROSSED I can shed some light on this today!