Advice please, sellers want 24 hours to move out after completion!

Credit-Crunched

Kaos wrote: »

We signed contracts last week. The solicitors told us the sellers had signed the contracts. Now they're umming and ah-ing and saying that we haven't exchanged. We have no idea what's happening. We're first time buyers and it's been rushed through.
We went with the highest recommended and expensive solicitors to ensure it went smoothly

Call you solicitor and ask them out right

a) Have we exchanged contracts on the purchase

if no, why not?

Then let us know what the response is.

Unfortunately, if you have not exchanged, then the seller is fully within his rights to change the completion date. Annoying as it is, he now holds some of the cards.

However, Think of this logically:

Seller is by the sounds of it skint, could he afford for the house to be re listed, pay for new conveyancing etc.

So I would stand firm, tell him complete tomorrow, or you will pull out. Sadly, this is a game of chicken, and by the sounds of it, he has a lot more to lose than you.

If he is getting verbally abuse on the phone to your OH, refuse to engage directly, and use his solicitors. He does not sound like a reasonable man, and certainly not one I would be giving sympathy towards.

Jhoney_2

Kaos wrote: »

We signed contracts last week. The solicitors told us the sellers had signed the contracts. Now they're umming and ah-ing and saying that we haven't exchanged. We have no idea what's happening. We're first time buyers and it's been rushed through.
We went with the highest recommended and expensive solicitors to ensure it went smoothly

It sounds as if you have both signed and returned your respective contracts to your separate solicitors, but formal exchange (where the signed contracts are swapped by the solicitors and a date of completion set) has not taken place. Anything can happen if that's the position.

Perhaps, you and your sellers can agree to exchange and then complete in a week?, so he can receive funds from the sale and arrange his accommodation in a more normal fashion?

m0bov

Its down to the buyer/seller /client whoever to ensure they understand the process and where they are at. At least I told the OP where they are at, other keyboard warriors on here have not offered any advice. You need to brush up on the purchase/sale process, you need to speak to your sol and get them to explain where you are at. Your paying them to look out for your interests which they are not doing.

You should also look for another property as this one is going down as quickly as this thread.

Tigsteroonie

m0bov wrote: »

Its down to the buyer/seller /client whoever to ensure they understand the process and where they are at.

Is it? In as much detail as to understand the difference between signing a contract and exchanging a contract, and to second-guess what their solicitor meant?

If I were undergoing open heart surgery, I wouldn't need to understand the process - I'd rely on a professional surgeon to explain it to me.

I don't claim to understand all the legal technicalities of house purchase - and therefore I relied on a professional, a solicitor, to explain it to me.

hohum

Kaos wrote: »

Our solicitors have just said "by the way, you've not actually exchanged". The seller says he's pulling out.

What made you think that you had exchanged contracts? Solicitor does not sound like they have explained things well...

Also, whether you have exchanged or not I still think the seller is trying it on. He's prepared to lose a sale over 48hrs? He must be very confident of the market. Brinksmanship is not a favourite negotiating tactic of mine. My instinct would be to respond 'ok, sorry to hear that, you're more trouble than you're worth goodbye'. But that might be a bit nose/ face interface. I think I would be strongly suggesting to solicitor that they are cause of this mess, that your wishes are to stick to date for completion and they need to negotiate with seller as he's being unreasonable and you've been placed in an unenviable situation through their lack of clarity re exchange.

Credit-Crunched

m0bov wrote: »

Its down to the buyer/seller /client whoever to ensure they understand the process and where they are at. At least I told the OP where they are at, other keyboard warriors on here have not offered any advice. You need to brush up on the purchase/sale process, you need to speak to your sol and get them to explain where you are at. Your paying them to look out for your interests which they are not doing.

You should also look for another property as this one is going down as quickly as this thread.

Whilst we brush up on our purchase and sale process knowledge, maybe you could brush up on your grammar....

:rotfl:

Sorry couldn't resist

DRP

largely agree^^ with m0bov

It's impossible to tell whether the solicitor failed to keep OP informed, or the OP failed to educate themselves on the process... but i would strongly suspect the latter.

OP - Given what you have told us, everything is up for negotiation and you either agree to their demands, negotiate or pull out.

m0bov

Very true, you can rely on a professional, but look where it got the OP.

Tigsteroonie wrote: »

Is it? In as much detail as to understand the difference between signing a contract and exchanging a contract, and to second-guess what their solicitor meant?

If I were undergoing open heart surgery, I wouldn't need to understand the process - I'd rely on a professional surgeon to explain it to me.

I don't claim to understand all the legal technicalities of house purchase - and therefore I relied on a professional, a solicitor, to explain it to me.

Kaos_2

Right. After a few phone calls... the solicitors have just officially exchanged! That's a big sigh of relief. The solicitors, being aware of the situation are sending money through today so that we will be completed at 9am tomorrow AND the seller will have the funds by 9am tomorrow so can get his new keys. What happens from there I'm not sure.
Again, I really do appreciate the help and absolutely do not understand the processes. FTBs and I've not been the one dealing with it, I'm not on the mortgage (other than permission to live there).

m0bov

Well done, that's something. Will the property be vacant at 9am? You will be turning up with your keys expecting to find an empty property. Is that 100%?? Still sounds a bit iffy to me. Get your Sol to confirm with their sol for sure. I would also take a little drive by the house and check to see if there is anything being moved out.