What the.....?

DRP

moneyistooshorttomention wrote: »

5 weeks, 3 days then.

I guess they didn't think it worth mentioning a few days extra time at the outset because its not very long and wouldn't have been aware of you having a particularly high rent to pay for that little extra time. Maybe they thought it would take a week or so longer to get to the point you're now at anyway....

I'm guessing most sellers wouldn't think to mention it either unless the "gap" was going to be up at 8 weeks or longer. I think I personally would say if I knew it was going to be 6 weeks or longer.

5 weeks or so is a huge delay given that everything is ready to go from a legal pov.

ahoneybun

Our solicitor has just rung and they want to exchange before they go away. Monday in fact and they return on 4th August and want a week to sort themselves out. So I pay additional rent, insurances while they sun themselves. My solicitors words were at least you will be secure because they could pull out.... Great I thought she worked for us!

lessonlearned

5 weeks between exchange and completion is not necessary, unless it is new build and not fully build complete.

Is it just a two week holiday or longer. Is exchange imminent.

If you could exchange early next week there is no reason why they cannot legally complete a week later and still have a couple of weeks to spare before they go on holiday.

In point of fact there is no legal reason why you cannot exchange and legally complete on the same day, plenty of people do, although obviously it is generally easier to allow a week or so breathing space.

If everything is done and dusted and you are ready to go then the Vendor has no real excuse for dragging their heels.

Speak to your solicitor, they might be able to apply a bit of pressure.

lessonlearned

ahoneybun wrote: »

Our solicitor has just rung and they want to exchange before they go away. Monday in fact and they return on 4th August and want a week to sort themselves out. So I pay additional rent, insurances while they sun themselves. My solicitors words were at least you will be secure because they could pull out.... Great I thought she worked for us!

Posts crossed.

From your original post I had assumed they would be going on holiday at the beginning of August.

As they are coming back on 4th August this does put a different spin on things. Why do they need a whole 15 days till 19th August.

Your solicitor is right. If you do exchange on Monday then at least your purchase is safe. They won't be able to have second thoughts whilst sunning themselves.......

I guess you will just have to go with the flow on this one.

suebfg

People go on holiday. C'est la vie. It isn't the sellers' issue that you are in rented property. Our sale has been delayed by 8 weeks due to undisclosed issues and that has cost us 2 months rent but there's nothing we can do other than pull out and be stuck in rented for many more months.

ahoneybun

Thanks for your comment suebfg but I think your being a little harsh! Unlike yourselves we have 'no issues' and in reality can exchange and complete within the week. Yes, true people do go on holiday but to delay but expect to exchange 5 weeks before the event is in my opinion a little unfair and costly to us with insurances etc, not just rent! I hope your situation resolves soon.

landybabe

i would just like to add that we are buying and selling and also are going on holiday for 3 weeks(booked last year) we have told our solicitor and EA. I am worried that the information might not have been passed on. I would just be happy to exchange.

suebfg

Direct maybe but you asked for views. We are in the process of buying a house and planned a last minute holiday. We didn't tell the vendors at the commencement of the process because it wasn't known about then. Maybe your vendors planned something last minute too.

suebfg

But I would add that 5 weeks does seem like a long gap

ahoneybun

We were quite clear at the start of the process we wanted it to be ASAP. As I said before it was one of the main reasons we went for this house as no chain either side. For us it's purely financial as our rent is 3 x our mortgage. I have no issues with taking holidays, people do but I think it should be brought up especially when ours should have gone through quicker. To delay because your off on your hols and then need time to sort yourself out when you get back is unfair. But then to be told you need to pay out for a house on insurances which you won't move into for over 5 weeks, because they want to exchange before they go is cruel.... I'm sorry if I've come across as being rude suebfg. Just a little frustrated at the process. I really do hope your situation sorts itself out soon