Home buying

lia1819

Morning, I would like some help on an issue I have.We put an offer in on a house in May, we haven't even signed contracts yet, as the last vendor decided to go on holiday for a month and not tell anyone, but their solictors said they had permission to exchange, and i am getting slightly angry because it does not look as though we will be in by Xmas.
Just wanted to know if I can claim compensation for storage cost etc.. the last vendors solicitors stated that we could exchange on the 11th but obvs not happened.
I'm not sure what else to do??

AdrianC

You can't exchange if YOU haven't signed your copy of the contract - you aren't ready. Is there a reason why you've not signed it? Is it ready for signing?

The vendor being on holiday shouldn't make any difference, once the draft contract's been received, unless there are any questions only they can answer. If their solicitor is suggesting exchange dates, then that suggests the delay is your side.

lincroft1710

You can't claim compensation

csgohan4

you cannot book anything unless you have exchanged at the least and have a completion date, anything else is wishful thinking.

Imagine ending your tenancy with 1 month to go and the vendor pulls the plug before exchange, what are you going to do then?

selina37

So a month would take you to june - so 5 months???? When you exchange you agree to complete and if not then if someone pulls out they are liable. It doesnt sound like you have exchanged to me? have you put a deposit down? if not you have not exchanged? Personally I would advise of a date i/e/ 7/14 days away and say you will pull out if not completed by then.

hazyjo

I'm confused.


So your buyer can exchange and has gone on hols. And? What's the prob?


You need to find out:


Can the completion date be while they're away?


If yes, will someone else be emptying their house?


If yes, it's sorted.


Sign your contract if it's ready. If it's not, why? Sounds like YOU are the one delaying the sale.


Not sure why you think you'll need to pay for storage.


Exchange dates change all the time, they are rarely stuck to. When you exchange, you will also be committed to a completion date. That can't then change.


Jx

hazyjo

selina37 wrote: »

Personally I would advise of a date i/e/ 7/14 days away and say you will pull out if not completed by then.

I wouldn't!


It takes as long as it takes, and it sounds like the prob is actually with the OP, not the vendor. Don't go cutting your nose off to spite your face - especially as you don't seem to know what's holding it up.


Jx

AnotherJoe

lia1819 wrote: »

Morning, I would like some help on an issue I have.We put an offer in on a house in May, we haven't even signed contracts yet, as the last vendor decided to go on holiday for a month and not tell anyone

Whats them going on holiday got to do with you signing contracts?

Did you mean exchanging contracts?

Different things.

If you did mean signing contracts then why haven't you?

elverson

http://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/how-do-i-exchange-contracts/