FTB moral support! Now with stupid solicitors!

TrickyNiki

:O

Oh dear... I went to see the property again today and the vendors have told me that they want to stay in the property up to 24 hours after completion so that they can see the funds have cleared and moved onto their vendor...

We are within a few weeks of exchange and I don't want to rock the boat but this seems wrong. I told him that my mortgage states vacant possession and my solicitor wouldn't like this. He's told me to keep it quiet and that what people don't know wont hurt them.

The vendor seems to be the type of person who gets what they want by just not listening.. I'm betting that no matter what they say they will stay in the property after exchange..

What can I do about this?

(I knew this was all going too well!)

Cara79

TrickyNiki wrote: »

:O

Oh dear... I went to see the property again today and the vendors have told me that they want to stay in the property up to 24 hours after completion so that they can see the funds have cleared and moved onto their vendor...

!)

Absolutely not!!!!

Do not agree to this, they could claim squatters rights etc etc.

Please tell your solicitor. It's absolute crap, of course te money would pass to their vendors.

Not sure how to enforce it tho!!

I really feel for you, but this feels very very wrong!

Excited13

Totally agree with Cara79 don't allow them I'd be very scared they would claim squatters rights.

TrickyNiki

I've spoken to my solicitor who agrees with you, the vendors need to move on completion day, thousands of other people in chains manage.

My vendors say they are paying removal men by the hour and having them on standby all day waiting for funds to clear will cost hundreds of pounds...

I feel bad but I don't want to invalidate my mortgage, plus wont I be liable for their bills and insurance?.. And squatters rights... I hadn't thought of that!!

Oh my... This is turning into a sticky situation and it was all running so smoothly...

Lokolo

TrickyNiki wrote: »

I've spoken to my solicitor who agrees with you, the vendors need to move on completion day, thousands of other people in chains manage.

My vendors say they are paying removal en by the hour and having them on standby all day waiting for funds to clear will cost hundreds of pounds...

I feel bad but I don't want to invalidate my mortgage, plus wont I be label for their bills and insurance.. And squatters rights... I hadn't thought of that!!

Oh my... This is turning into a sticky situation and it was all running so smoothly...

You won't complete until all the money clears anyway, so when you do complete the money will have all been transferred to the correct people/companies.

Therefore the vendor has no excuse.

tizerbelle

TrickyNiki wrote: »

:O

Oh dear... I went to see the property again today and the vendors have told me that they want to stay in the property up to 24 hours after completion so that they can see the funds have cleared and moved onto their vendor...

We are within a few weeks of exchange and I don't want to rock the boat but this seems wrong. I told him that my mortgage states vacant possession and my solicitor wouldn't like this. He's told me to keep it quiet and that what people don't know wont hurt them.

The vendor seems to be the type of person who gets what they want by just not listening.. I'm betting that no matter what they say they will stay in the property after exchange..

What can I do about this?

(I knew this was all going too well!)

Let your solicitor know immediately, ensure your solicitor informs theirs and get contingency plans ready now for the what if scenarios and when you are picking completion dates - do not complete on a Friday - if you do and there are problems you have limited time to resolve before everyone goes home for the weekend apart from you!

TrickyNiki

So funds clear before completion?

I suppose now I have to wait and see if they move out.. Otherwise my solicitor will be earning her money!!

I'm not quite as excited anymore....

yoyoegg

they want to stay in the property up to 24 hours after completion

Lot of nonsense. I had vendors who asked for this when I was FTB and my solicitor just laughed. While they are in the house, no money!

The solicitors will have the monies from buyers/sellers in their respective client accounts so this can all be done by phone on the day between solicitors. There's no 'clearance' like a cheque as the solicitors will have ensure funding is secured when contracts are exchanged.

TrickyNiki

I've told my solicitor, she said she will speak to their solicitors on exchange and make sure the vacant possession clause is expressly pointed out.

Thanks for the advice about Friday... The vendor said they would prefer a Friday.. Now I can see why. I'll probably look at a Wednesday now.

I'm glad my solicitors work on sat but the vendors ones don't.

Lokolo

TrickyNiki wrote: »

So funds clear before completion?

I suppose now I have to wait and see if they move out.. Otherwise my solicitor will be earning her money!!

I'm not quite as excited anymore....

Yes which is why sometimes its a bit nerve-wrecking if the people haven't pressed the buttons! And can sometimes take a few hours.