Is it possible to complete...

pops5588

After a month of being at a stand still we are FINALLY meeting with our solicitor this afternoon to sign exchange contracts and to get a few questions answered. We are going on holiday next weekend, are we being totally unrealistic expecting to be able to exchange next week and complete end of july? Vendor is moving into a vacant property owned by a couple who have moved abroad, so not a huge chain at all.

Mid-August is our absolute deadline, boyfriend has chartered accountancy exams in September and my little sister's hen do/wedding are in September and October so would rather not be moving while try to be the best maid of honour the planet has ever seen.

Does this sound do-able? Or mad?

monty-doggy

Why would it be unrealistic? Why wait until end of July?

dryhat

There is usually no reason why a house sale -from viewing to completion- cannot be completed within a week.

Delays only arise because of the inefficiencies, failings or self-interest of the parties involved in carrying out the transaction.

pops5588

Well we will be away until the 15th july, really want to get in as soon after that as we can! Wasn't sure if I asked my solicitor he would sit and stare at me like I was bonkers, but thanks! I shall go in making my demands :-P

hannhol

we exchanged contracts last tuesday and completed last friday, on a total time frame of 8.5 weeks from offer to completion. we were chain free on both sides, and the property was vacant so there was no reason apart from the solicitors being slow why it even took that long.

MarkBargain

So you are signing your contract this afternoon, but is the vendor doing the same? That is the big question - will you have to wait for them? Once you have both signed contracts, you should be able to exchange and complete in a few days.

chickaroonee

We exchanged and completed 3 days later, we've also done it same day before.

pops5588

Thanks, I will make a note to ask them to find out where the Vendors are in terms of signing.

Just at the point where I want it all to be over now!! Far too much stress! :-)

pops5588

Well, not really sure how to feel after that. Current Vendor got planning permission for their solar panels (not owned outright) but didn't get permission from the council which means that is a potential issue. No way are we taking on a house with such a liability hanging over it, so now we have to go back to the Vendor and make them rectify the situation before we can even think about exchanging.

Every time I think we are getting somewhere, the goal-posts get moved. Knackered.

dryhat

pops5588 wrote: »

Well, not really sure how to feel after that. Current Vendor got planning permission for their solar panels (not owned outright) but didn't get permission from the council which means that is a potential issue. No way are we taking on a house with such a liability hanging over it, so now we have to go back to the Vendor and make them rectify the situation before we can even think about exchanging.

Every time I think we are getting somewhere, the goal-posts get moved. Knackered.

If the vendors do not own their solar panels, they have effectively rented out the roof of the house for 25 years.
If you buy the house you will have to take on this solar panel contract as well, which means dealing with a third party.

It's a potential minefield which is best avoided.

pops5588

dryhat wrote: »

If the vendors do not own their solar panels, they have effectively rented out the roof of the house for 25 years.
If you buy the house you will have to take on this solar panel contract as well, which means dealing with a third party.

It's a potential minefield which is best avoided.

Yes, we already know this but we have decided to proceed anyway. The property is the only one on the market in the area we are looking to buy which has all the things we are looking for, for us the solar panels were a compromise. It has only just come to light that they did not necessarily tick all the necessary boxes as far as the panels were concerned. Backing out of the purchase is not an option for us unless the vendors refuse to rectify their mistake.