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Completion day tomorrow - seller now can't complete!
Comments
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The seller doesn't live in the property, he has another house, not sure if he rents or owns though, he used to rent this one out.0
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Tracytop81 wrote: »The contracts were exchanged 6 weeks ago as it was an auction property
you sure?
http://forums.moneysavingexpert.com/showpost.php?p=71626652&postcount=22
You had only got your mortgage offer here, contracts couldn't have been exchanged before then could they?0 -
Unless I'm getting confused, but the only contracts we signed were at the auction, which is where we agreed the completion date and I paid a 10% deposit, not sure now if this in the contract that is being talked about?0
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I think exchange happens almost at once with an auction property.
It seems that the op was lucky that not having finances in place worked out ok for them, but not for the seller. This is now having an obvious impact on the op.0 -
A colleague has been in similar position since August, although they hadn't exchanged, and they've put most of their stuff in storage and are living in air bnbs, would that be possible?:eek::eek::eek: LBM 11/05/2010 - WE DID IT - DMP of £62000 paid off in 7 years:jDFD April20170
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Tracytop81 wrote: »The contracts were exchanged 6 weeks ago as it was an auction property
Was it a repossession?0 -
Well my solicitor has just been on the phone. Someone more experienced has now stepped in from the sellers solicitors firm and has said they have been in contact with the sellers bank and are trying to arrange something regarding his finances, but has asked that we give an extra day and move completion to Thrs so that they can find a solution. I have everything crossed that they can sort things. It is a bit of hope and I will sleep easier tonight0
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beckstar1975 wrote: »A colleague has been in similar position since August, although they hadn't exchanged, and they've put most of their stuff in storage and are living in air bnbs, would that be possible?
Colleague has no rights to completion then0 -
No, not a repossession, the owner just wanted to sell I think, my solicitor and his have not said anything about it being a repo, and he signed the auction contract and was the one who put it in the auction. But I could be wrong I guess0
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Tracytop81 wrote: »No, not a repossession, the owner just wanted to sell I think, my solicitor and his have not said anything about it being a repo, and he signed the auction contract and was the one who put it in the auction. But I could be wrong I guess
Well then he should've put a reserve price on it0
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