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Making time of the essence
da_rule
Posts: 3,618 Forumite
So completion date has been and gone. I'm considering instructing my solicitor to serve notice on the seller making time of the essence and then enforcing this through the courts (specific performance) if they still don't complete. Has anyone had any experience of doing this?
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Have you exchanged?0
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Yes we have exchanged.0
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I don't understand, completion date is set at exchange, did you do this? What reasons are they giving for non completion, what compensation amounts do you have written into you contract for non completion? Why is your solicitor and you not dealing with this on a legal basis?0
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You can't use that as the contract is already signed by both parties. 'Time is of the essence' is a contract term and as the contract is already breached then it is meaningless to put it in a notice to the seller. (As a contract term then it also needs to be agreed by both sides)This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Do you still want to buy the property?
A notice to complete does make time of the essence in that once the time in the notice (I think 10 days) has expired, you are then entitled to withdraw from the contract without penalty. (and then to make a separate claim for damages afterwards)
Obviously it may be effective if it scares the other party into completing.
The other option is to apply for specific performance (i.e. a court order requiring the other party to complete) My understanding is that you don't need to serve a notice to complete before applying for specific performance, as they are two different remedies. One gets you out of the contract, one forces the other person to comply with the contract
You would need to discuss with your solicitor how to proceed - what is the reason for the delay?All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0
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