FTB Urgent Help Wanted

englishdesi

Hi All,

I would be grateful if you could help me. back in January I exchanged contracts on a flat and the seller informed me, she would be in a position to move out by the end of June as she is moving into a new build and it should be ready by then.

Over the course of the months, we provisionally agreed between us a completion date of 6th July as I will be away on business the first last two weeks of June when the new build date is anticipated.

Today I get a phone call from the Estate Agent saying that the building inspector has signed off on the vendors new build and is putting pressure on them to complete on the 25th June, I told him I am away and thus not able to complete on this date, earliest I can do is monday 2nd June. He said he will rely this to the Vendor.

Just now I get a phone call from the Estate Agent telling me that the Vendor is in tears as the Builders have threatend to levy a £6,000 per day charge on her for every day she does not complete.

I am at my wits end as I am away on business for the next two weeks and I dont know what to do.

Any help or guidance would be much appreicated
Englishdesi

pinkshoes

Can you come back for a day during your business trip? Most companies will allow you to take a day off to move house, or at least unpaid leave!

If you're going to be working abroad, why not get the vendor to pay for the return flight back that day, so you'll only miss one day of your business trip. A return flight has to be cheaper than £6000/day!

Doozergirl

If you are a FTB, do you need to actually move in on the same day as completion? You don't need to be around for completion to take place, you just need to transfer any money you'll be putting down as deposit to your solicitor in plenty of time.

Why don't you agree to complete on the 25th as long as she agrees to reduce the price of the house by the amount of your mortgage repayments for that time you are away.

As you are not stuck between a buyer and vendor yourself, I think you are the one that can be accommodating here.

englishdesi

Just an update, I postponed my business trip to accomodate completion on the 25th June, Vendor was overjoyed as she is heavily pregnant and due any day and were contemplating getting a bridging loan to pay the 6k a day the developer wanted.

Doozergirl

I bet you feel good about yourself

Nice one

Rimo2021

englishdesi wrote: »

Just an update, I postponed my business trip to accomodate completion on the 25th June, Vendor was overjoyed as she is heavily pregnant and due any day and were contemplating getting a bridging loan to pay the 6k a day the developer wanted.

Thats ridiculous - she should have just got a bridging loan so she could complete her purchase on the 25th. The 6K a day was never going to be needed except to put pressure on you to complete when it suited her.

englishdesi

Doozergirl wrote: »

I bet you feel good about yourself

Nice one

yep, it's the law of Good Karma, what goes around, comes around

I could have been a complete git and stuck to a far away completion date, made them get a briding loan and made their lives hell....................................but alas i am a nice guy and the wheels of karma are turning !

zebidee1

englishdesi..I just wanted to echo Doozergirl's comments. Nice one and nice guy.

I firmly believe that what goes around comes around and whilst you might have been in the position of holding all the cards and being able to suit yourself, you chose not to and considered what you could do to help another.

Good on you! :T It will come back to you two-fold.

snowmaid

englishdesi wrote: »

yep, it's the law of Good Karma, what goes around, comes around

I could have been a complete git and stuck to a far away completion date, made them get a briding loan and made their lives hell....................................but alas i am a nice guy and the wheels of karma are turning !

Without being patronising, WELL DONE!! :T You will receive back 10 fold! Some people would have obtained a depraved sense of enjoyment at causing someone suffering, even if it is avoidable, with maybe a little inconvenience to oneself.

englishdesi

Many Thanks for all your messages of support, I just put myself in the Vendor's position and could understand their concern and wanted to help as best I could, my solicitor advised me that it wasnt my problem and I should let the vendor bail out of her own mess, I couldnt do that to another human being

for me it was a small price to pay with the business trip, but the vendor called me this morning to express her thanks and appreciation and that meant so much more, she told me for the first time in weeks, she had a good night's sleep without worrying about all this hassle !

snowmaid

englishdesi wrote: »

Many Thanks for all your messages of support, I just put myself in the Vendor's position and could understand their concern and wanted to help as best I could, my solicitor advised me that it wasnt my problem and I should let the vendor bail out of her own mess, I couldnt do that to another human being

for me it was a small price to pay with the business trip, but the vendor called me this morning to express her thanks and appreciation and that meant so much more, she told me for the first time in weeks, she had a good night's sleep without worrying about all this hassle !

There we go! If only more people were like you, the world would be such a better place.