What if completion doesn't happen on due day

Shahni

davidjcb1 wrote: »

I agreed the 16th March yesterday, my solicitor was then to communicate that with the other party and seller to agree to that date

I spoke to seller and he seems happy with that date so imagine he will also sign to agree completion on that date, the agent told me he is happy with that date too

I have just emailed my solicitor to confirm to me he has agreed to that date formally.

(Assuming England and Wales) 'Agreeing' a date before exchange of contracts means nothing. You can aim for whatever date you like but there are no legal consequences for missing it. The date is set on exchange of contracts, at which point there are then consequences for not completing on the completion date. It doesn't sound like you have exchanged contracts yet?

Arklight

You spend three days reading the Welsh Woofs thread and worrying.

marksoton

davidjcb1 wrote: »

Curious
It's important I complete this month due to new stamp duty laws

davidjcb1 wrote: »

I'm buying this house for myself to live in. Never been through this process before so I just want to get a grasp of it and how it can go wrong

Not sure what your reference to landlords has to do with it

Please explain.............

davidjcb1

slopemaster wrote: »

So how do new stamp duty rules apply?

As I am owner of another house that is in the family
Not that I have to explain

If you can't help, then don't reply

davidjcb1

I do feel my solicitor is useless, that's something I have worked out.

G_M

David - it seems to me, reading between the lines, that you do not understand the buying process.

In particular, do you understand what 'Exchange of Contracts' means?

You say you've 'agreed' a Completion date (with your solicitor, the seller whoever) but if you have not 'Exchanged' then that is nothing more than a hope.

Get yourself a book on house buying and learn the process.

davidjcb1

Your not wrong, I don't know the process.
I have not been getting a good experience from both the solicitor or my mortgage advisor
I do not have a contract myself, I signed some things yesterday at solicitors. She knows I need to complete this month. She picked 16th March as a date to complete.

But I did not hear her say 'exchange of contract' yet. I'm not sure if it's something I should have fully been aware of or maybe she just didn't describe it as that

Jon_B_2

Very simply. Ask your solicitor when exchange of contracts is scheduled to take place. That will give you a good idea if you'll complete in time.

Seriously though, amazes me how people don't research something so costly.

davidjcb1

Well I guess I am to trusting in a solicitor service to carry out the job

davidjcb1

I have just emailed asking when exchange of contract takes place