Buyer wants completion in 4 weeks - is this possible?

lovehols

They have just offer is subject to completion on X date. From my.point of view it's fine as we have moved out and it's empty. Balls in her court so to speak I guess it just depends on surveys etc etc. I get the impression with her sale being imminent this week and her being with family she needs something straight away!

dunroving

Hmmm, I can understand buyers wanting to determine the seller's commitment to selling quickly but ... achieving a specific completion date is dependent on *both* parties, not just the seller.

When I used to live in the US, offers sometimes would include a get out of jail free clause that allowed the buyer to pull out at almost any time. Although that may not be the intention of the buyers in this case, it's potentially open to abuse. I'd ask your solicitor how legally binding this is - for example, if you exchange contracts but for reasons that are more to do with the buyer, completion can't occur, what then? Can the buyer withdraw?

It just seems a bit odd to me to specify a completion date in an offer. But then I don't have much recent experience of buying/selling in the UK.

DaftyDuck

It's quite possible; I have done it more than once. You may need to be proactive to hasten solicitor up.

Make clear to them at the outset your hope to complete in that time, and ask them, early on, what documents they'd like you to produce. They'll want the property information forms, etc, filled in and returned. Fill them in accurately and completely, scan a copy for reference, and drop them straight back.

Make a list of all the documents you may have, boiler service to electrical certification, damp guarantees to whatever, scan the lot, and offer the list to solicitor. Try to preempt any delays.

If they are local, don't post documents they send out back, but drop them off instead, as early in the day as possible. If they are email-savvy, a brief and regular check-in on progress is worthwhile but avoid Friday as they were always busy/drunk.

If the seller is motivated and reasonable, exchanging contact email and phone can smooth out many minor issues. If you have a good estate agent they, too, can help.

It's never (?) ideal to have exchange and completion at the same time, even a couple of days is handy. Do really try to avoid Friday completion; any problems are compounded by busy solicitors, closing banks, and weekend delays.

hazyjo

Presuming you're the top of the chain, it should be doable if no complications. I agreed to a three week exchange/completion a week or so after, but it ended up taking five months until we completed! But then that was due to probs on our purchase which you'll be skipping (presumably).


Quickest I've done was 5 weeks as a FTB.

lovehols

I'm already ahead, did the property info form, fixtures and fittings form, all deeds already with solicitor as is water bill, Gas Safe information, Chancel check, all info from when I purchased it. We had a failed sale a couple of weeks ago so luckily everything is already with solicitor paperwork wise so she has said she literally has everything readh to go.

millysg1

It 4 weeks since we put offer on a house and we!!!8217;ve done everything needed, all searches, survey and mortgage sorted and we aren!!!8217;t rushing things, just normal timescale. Unfortunately we are in a chain and I have no idea how far along everyone else is so now just waiting for everyone one else.

Savvy_Sue

We exchanged and completed on the same day with my late mother's house.

Does it matter to you if completion is delayed?

TadleyBaggie

We had a buyer who wanted to complete in 4 weeks many years ago, however we hadn't found another property. By luck one that we had liked came back onto the market and we were able to get our seller to complete in 5 weeks. So we were effectively homeless for a week, which was OK as it was a company funded move and so they paid all the storage costs.

lovehols

It doesn't bother us if completion is delayed as we will just keep doing any viewings, though we don't have any booked in. We have two other interested parties but they haven't yet sold their house so to get someone who is actually in a position to proceed is a good thing, without collapsed sales which has happened to us twice before too with people in chains!

Whilst I think it may be a bit ambitious, it's the buyer making this demand not us so as long as I keep on top of everything I'm hopeful it can all be sorted quickly.

AnotherJoe

Is say it's doable if there are no searches. They aren't mandatory if no mortgage. Often (most cases?) they are a waste of time.