When can i ask for a completion date?

pearson27

hi all

my solicitor has said i might be "signing the documents this week" in time for my completion date of 26 July.

the thing is, the solicitor hasnt evens confirmed this is ok with the vendor. so with a little over a week to go i have no official exchange date of completion date.

im stressed to say the least

where do i stand? what are my rights? should i be chasing this everyday?

thanks guys

Annisele

Up until you exchange, the vendor can pull out whenever he likes (as can you).

Do you know what is still outstanding? Depending on what that is, chasing may or may not help you.

pearson27

the only things outstanding are answers to some "routine queries" regarding the property. my solicitor advised they already have a contract fromthe vendor

Annisele

Routine questions sometimes produce non-routine answers.

Does the vendor actually own the property they're selling? Is the vendor bankrupt? Does the vendor know of any susidence? That sort of thing.

Do you need to complete on the 26th? If not, things may be a little less stressful if you build in a week between exchange and completion.

pearson27

all the valuations have been done and the vendor is not bankrupt and they own the property. this is a very straight forward sale (we are FTB and she has not specified any completion dates in the fixtures and fittings form)

G_M

Where is the vendor moving to?

There are 101 reasons the Completion date may change, not just the ones suggested here.

Why not ask the vendor? Or Estate Agent? when they want toExchange/Complete.

Do you have any commitments which constrain when you can/can't move? New job? Holiday booked? Anniverary? Whatever.

Give your solicitor a list of dates you canNOT Complete, plus an indication of when you would LIKE to Complete. At same time, ask him what the vendors have indicated in termsof dates, and what he thinks is viable.

Also make clear how long you want between Exchange & Completion(if you care) ie so you can book removals, take time off work etc

pearson27

hi

thanks for all the replies so far

the solicitor knows my preferred date and im not too picky about time in between the two.

i dont really want to approach the vendor as i might seem pushy - and as a nervous first time buyer i could do without this ha ha.

i need the 26th because my tenancy agreement is up then and im not sure where i will stand from this point.

the vendor is moving into a smaller property but it does not appear to be dependant on my buying their house

Annisele

pearson27 wrote: »

i need the 26th because my tenancy agreement is up then and im not sure where i will stand from this point.

Are you sure about that? If the fixed term is ending, the tenancy will automatically continue. If your landlord has served notice on you, then the notice doesn't bring the tenancy to an end.

pearson27

right,

but i dont want to enter a period where i pay rent and a mortgage payment.

do i only get a completion date when contracts have been exchanged, if so when is a date set for this

hazyjo

pearson27 wrote: »

right,

but i dont want to enter a period where i pay rent and a mortgage payment.

do i only get a completion date when contracts have been exchanged, if so when is a date set for this

Then go for longer between exchange and completion and pay another month or so.

Yes, you will all (all parties) decide on a copletion date, then contracts will be exchanged with a fixed completion date.

Not wise to give notice on a rental until exchange as the purchase could still fall through before exchange.

Jx

moneyistooshorttomention

Annisele wrote: »

Do you need to complete on the 26th? If not, things may be a little less stressful if you build in a week between exchange and completion.

Definitely:T

It's only recently struck me that another very good reason for having my 4 weeks I've decided on between Exchange and Completion is that my house-to-be is rather differently arranged to my current one and I'll need time to get rid of possessions kept "just in case" in the storage space current house has.

Hence another reason for people not to let themselves get pressurised into those 21st century "shortie gaps" that some people have.

I just cant understand people putting themselves under pressure all round by the way that some of them have these "shortie" little gaps. After all, once you've exchanged you've exchanged and everyone is "safe" and it allows time for all concerned to do the necessary admin. tasks and make the necessary mental adjustments to the fact that you will be living in a different place.

My buyer was trying to pressurise me into a modern "Shortie Gap" and my estate agent pointed out that some of this "hurry up pressure" often comes from buyers solicitor/conveyancer wanting to get their hands on their fees asap - rather than looking out for their own clients interests. Made sense to me...

Tell your solicitor/conveyancer to get lost and just darn well wait for their fees. It wont harm them not to be so darn impatient to have those £s in their bank account. It's only a case of solicitor/conveyancers waiting a couple of weeks for only a few hundred £s - peanuts in the grand scheme of things for the sake of everyone feeling a lot less hassled all round.