Vendor changing completion date?

Asl77c

Exchanging contracts is when solicitors actually !!!8216;exchange!!!8217; the contracts which have been signed by their respective parties. You have signed your part they have likely signed theirs. But until exchange occurs they mean nothing and the dates on them are subject to change

Linus2864

kezzygirl wrote: »

Does this mean we have exchanged? What if she hasn't signed the contract yet?

You will know when you have exchanged. Your solicitor will tell you and it is unlikely to happen until the completion date has been agreed.


It sounds like you are aiming to exchange and complete on the same day - is that correct?


If this is the case, then nothing is set in stone until the day.


Hope this helps


L

Jaywood89

If you haven!!!8217;t been asked to pay your deposit I doubt you have exchanged. Unless you specifically were planning of exchanging and completing on the same day but as someone else said you would know if you were

dunroving

As far as I know if the contracts have not been exchanged it doesn't matter if they are signed. The solicitors will not send the contract until the client tells them to.

Jaywood89

Also I!!!8217;m afraid this is all part of house buying, I don!!!8217;t mean to sound condescending but you have been very naive to arrange all of these aspects before exchange of contracts. I say this as a FTB myself but I thoroughly researched the processes involved and know you should never make any certain plans until after exchange.
Lucky I didn!!!8217;t as I was gazumped the day before exchange and lost a lot of money through it. Unfortunately the house buying game can be full of disappointment and frustration before you get the keys.

kezzygirl

She has given us the invoice and amount we need to pay, along with her bank details to transfer funds.

Jaywood89

Yeah I!!!8217;m afraid that is just an invoice it isn!!!8217;t a sign of exchange. Just to let you know how much you will need to pay when they request you to do so

kezzygirl

Jaywood89 wrote: »

Also I!!!8217;m afraid this is all part of house buying, I don!!!8217;t mean to sound condescending but you have been very naive to arrange all of these aspects before exchange of contracts. I say this as a FTB myself but I thoroughly researched the processes involved and know you should never make any certain plans until after exchange.
Lucky I didn!!!8217;t as I was gazumped the day before exchange and lost a lot of money through it. Unfortunately the house buying game can be full of disappointment and frustration before you get the keys.

Wouldn't say naive, I would say I am getting everything organised for my family as it is about 70 miles from us and we had verbally agreed the date, hence why it was written on the contract we signed today.

Thrugelmir

kezzygirl wrote: »

She has given us the invoice and amount we need to pay, along with her bank details to transfer funds.

Your solicitor won't be in a position to exchange contracts until the funds are received. Is there a mortgage involved?

kezzygirl

Thrugelmir wrote: »

Your solicitor won't be in a position to exchange contracts until the funds are received. Is there a mortgage involved?

Yes there is a mortgage. She has requested mortgage funds today