Property Information Form

alcur

dc197 wrote: »

Do you need to sell your current house to buy the new one?
If so, and you don't even have it on the market yet, 2 months is probably not enough time.

If you don't need to sell yours to buy, and already have most of the legals done, 2 months seems a long time.

No I don't need to sell in order to buy and this purchase is a cash buy so no mortgage required (probably makes no difference)


Most of the legals are done which is why I was anticipating exchanging/completing ASAP and not having to wait 2 months. I've never purchased in a chain before so have very little knowledge of how it actually works.

fashionvictim

alcur wrote: »

The process is almost complete. Survey done, searches returned, only a couple more enquiries left to be answered and I've been to the solicitor to sign contracts etc.

You've signed the contract, but only just seen the property info form? Or was complete in september a newly added condition?

I know enquiries can take ages to mop up and can lead to further ones, so it can seem like you are good to go but still be waiting another 3-4 weeks to be ready to exchange.

When you exchange you usually set the date for completion. (Unless they are buying a new build, like someone already queried. Finish dates move all the time with a new build.)

You could move to exchange asap and have a long gap between exchange and completion (if you are getting a mortgage some risk here if your circumstances change during the gap). But at least you can set a completion date for the move asap

G_M

As others have said, you can, of course, negotiate. And hope that they are willing to be flexible/bring the date forward, AND that others in the chain are also able to be ready.

If they refuse/can't, you can either

* accept you will be Completing in Sept (or later depending on the chain!)

* walk away. In which case what are the odds of you finding a new property, doing all the conveyancing/financing/surveying, and Completing by September......

alcur

Just an update re the above:

The sellers are buying a new build, and the property isn't going to be ready until September.

I spoke to the EA as I wasn't happy that this delay wasn't disclosed to me beforehand (as I am looking to move straight away) and they told me it was good news, the vendors had arranged temporary accommodation which would allow us to exchange/complete as soon as the legals were all done.

I visited my solicitor yesterday, and he phoned the sellers solicitor as I was there and they confirmed we were good to proceed to exchange/completion next week. I have already transferred £300k of £369k to my solicitors in preparation for this.

Now my solicitor called me earlier to say the sellers can't actually move out until 24th August!!! Which is pretty much 5 weeks away. Quite annoying when all the legals are done and I've paid the majority of the money.

Just wanted to vent! :eek:

Hoploz

It's not far away, try and chill out. On the positive side you've got plenty of time to pack and make arrangements. In a few weeks you'll be in and all this will be forgotten about. Try and see the bigger picture here. I wouldn't be surprised if their date for moving in to the new house has moved, it often does, so you are lucky they have agreed to move out at all.

Thrugelmir

alcur wrote: »

Now my solicitor called me earlier to say the sellers can't actually move out until 24th August!!!

Seems they've played the game well. Another couple of weeks has passed. Soon be September.

Bossworld

fashionvictim wrote: »

You've signed the contract, but only just seen the property info form? Or was complete in september a newly added condition?

I know enquiries can take ages to mop up and can lead to further ones, so it can seem like you are good to go but still be waiting another 3-4 weeks to be ready to exchange.

When you exchange you usually set the date for completion. (Unless they are buying a new build, like someone already queried. Finish dates move all the time with a new build.)

You could move to exchange asap and have a long gap between exchange and completion (if you are getting a mortgage some risk here if your circumstances change during the gap). But at least you can set a completion date for the move asap

As per my question on the 'waiting to exchange' thread, our offer was accepted at the beginning of June and we haven't seen the forms yet. Hoping and assuming the solicitor is going to send them once the searches are complete

Wishing you good luck OP, it's a stressful time