Seller wants to stay on after completion

Half_Price_Sky

Let_Us_See wrote: »

Shouldn't be any additional expense for changing completion date, although the solicitor may have to make another request for drawdown of funds.

Sols inform me that the lender's money, as well as my deposit, are in place. Why would they have to be requested again I don't understand this?

Kernel_Sanders

You've paid for vacant possession, so don't risk getting a squat instead.

ACG

If it was a close relative i would probably crack on with it. As it probably isnt its not worth it.

They may become squatters, they may start ripping the copper piping/wiring out, lead off the roofs, all that promised furniture may be gone, radiators off walls.

All of that is unlikely as you would just involve the police but thats not to say it will not happen. Its not worth opening yourself up to any additional risks.

EDIT:
The other big risk is that the lender realises and calls in the loan.
Again, unlikely but you never know.

Half_Price_Sky

I've just spoken to the seller and broke the news. She was a bit miffed by the situation and thinks I'm overreacting. Told her I didn't mind her staying on until the weekend but that I just wanted to make sure I was legally covered for all eventualities.

The dialogue stopped someway short of becoming heated but it was conducted in a rather sour note all the same. Shame as we've been in regular pleasant contact with each other since the viewing in July, and for all intents and purposes had basically cut the estate agents out of the equation. Probably got too friendly in the end which was half of the problem.

She's unwilling to mess around extending the completion date, and any additional costs that may bring(?), so instead agreed to move out on Wednesday afterall. Apparently it's hauling her possessions which was the hitch, as she's got relatives who can put her up for a bit, so is going to leave the stuff in one of the bedrooms and come back for it over the weekend.

Mulder00

Much better otherwise Saturday might become Monday which becomes Wednesday which becomes Friday and before you know it you are asking yourself how you got into this mess!!!

ethank

What happens if she doesn't?

RobertoMoir

ethank wrote: »

What happens if she doesn't?

If the seller doesn't move out on the agreed upon-date then they've violated the contract of sale, which contains a clause that insists on vacant possession. That leaves them holding the baby, legally speaking, instead of the OP.

pinkteapot

Half_Price_Sky wrote: »

What would be the worst case scenarios of letting the vendor remain after completion?

Vendor doesn't move out and legally you become a landlord and have to have her evicted, which takes months.

Don't do it. And next time you move, don't exchange personal phone numbers with the buyer/seller. Do everything through EAs/solicitors.

ERICS_MUM

pinkteapot wrote: »

Vendor doesn't move out and legally you become a landlord and have to have her evicted, which takes months.

Don't do it. And next time you move, don't exchange personal phone numbers with the buyer/seller. Do everything through EAs/solicitors.

consequence is the lender finds out there is not vacant possession and asks you for their money back. They find out because your solicitor is obliged to tell them.

egoode

Just take this as a lesson learnt that you should check everything with your solicitor before agreeing something with the seller.

When you told the seller you needed to change your mind did you tell them it was because the sale could have been stopped by the mortgage company if you had allowed there request? I'm sure at this point they would rather have it go through than having to start all over again with a new buyer or wait for you to apply for a new mortgage.