Completion date drama

marksoton

The only person making it a drama........ is you.

rtho782

When moving out of rented and into a purchased home you will always have an overlap and should budget for up to an entire rental period. We are about to do the same thing and we just have to live with it.

It could be much much worse - your LL could insist on a new 12 month tenancy and evict you if you insist on staying on periodic. Then you'd have to move into a BnB until completion.

bouicca21

Why don't you think about the advantages of having an overlap of rent and mortgage? You have flexibility over moving date. You have an opportunity to go into your new place to clean and redecorate while it's empty.

An overlap between renting and buying is pretty well inevitable. You just have to suck it up.

Greenlady

Hoploz wrote: »

Does the date really matter? Just get it exchanged ASAP whatever the completion date.

The problem here is the builder. You aren't solving the problem by not agreeing to his date, you're creating another problem.

BTW solicitors will always tell you to wait. They have no interest in speeding things up. They are used to sitting and waiting, it's how they work. They always wait for every t to be crossed and I to be dotted before making a move, it's the way their world works.

Not getting it confused. The reason we're unable to exchange is because we can't agree on a date for completion and contracts won't be exchanged without that, we're told.

Dan-Dan

There is no deadlock, do you want to move or not? If you do suck it up and give a little

Greenlady

rtho782 wrote: »

When moving out of rented and into a purchased home you will always have an overlap and should budget for up to an entire rental period. We are about to do the same thing and we just have to live with it.

It could be much much worse - your LL could insist on a new 12 month tenancy and evict you if you insist on staying on periodic. Then you'd have to move into a BnB until completion.

Sure. Just don't want it to be by a whole month. 3 weeks is still a lot but at least end of the month is nearly pay day.

marksoton

Greenlady wrote: »

The reason we're unable to exchange is because we can't agree on a date for completion and contracts won't be exchanged without that, we're told.

That's the way the games played.... And no amount of procrastinating from you will change it.

Edit: You keep referring to it being near payday. Stretching yourself from day 1 is a dangerous game to play when buying a pad.

AdrianC

I'm really confused.

Can we clarify, please?

You have to be out of your rental on the 19th of a month.
You have a choice of completion on 6th May or 27th May.
Obviously, you've missed the opportunity to hand your notice in by the 20th April, for 19th May departure.

Have you asked your solicitor to get in touch with the builder's solicitor to see if there can be some compromise agreement, perhaps the builder contributing to your extra rent, if there is any?

Simply put - it's going to cost you money (extra rent) to move in early and have a long overlap.
But it's also going to cost him money (he probably has labour and materials booked) to move in late.

Have you spoken to your landlord to see if he'd be flexible? For all you know, this is a non-issue. He may very well be willing to accept a shorter notice period or one that doesn't link in with the end of a rent period.

Rain_Shadow

bouicca21 wrote: »

Why don't you think about the advantages of having an overlap of rent and mortgage? You have flexibility over moving date. You have an opportunity to go into your new place to clean and redecorate while it's empty.

An overlap between renting and buying is pretty well inevitable. You just have to suck it up.

There is a lot to be said for this. Decorating empty houses is a joy compared to working around furniture etc.


Obviously there is a limit to how much overlap you can sustain but a month should have been within your budgeted figures.

Greenlady

AdrianC wrote: »

I'm really confused.

Can we clarify, please?

You have to be out of your rental on the 19th of a month.
You have a choice of completion on 6th May or 27th May.
Obviously, you've missed the opportunity to hand your notice in by the 20th April, for 19th May departure.

Have you asked your solicitor to get in touch with the builder's solicitor to see if there can be some compromise agreement, perhaps the builder contributing to your extra rent, if there is any?

Simply put - it's going to cost you money (extra rent) to move in early and have a long overlap.
But it's also going to cost him money (he probably has labour and materials booked) to move in late.

Have you spoken to your landlord to see if he'd be flexible? For all you know, this is a non-issue. He may very well be willing to accept a shorter notice period or one that doesn't link in with the end of a rent period.

It wasn't until you mentioned materials etc that I noticed I've applied wrong word. English is not my first language and I ended up calling a developer a builder (which we would do in my mother tongue). :eek:

The last people in the chain are moving to a resort like development from I gather.

I got on to the landlord straight away as we had just missed our notice by two days but he wasn't flexible.