Vendor trying to set completion date before exchange

saajan_12

hobbeskat wrote: »

We've just received our offer (most other work is done, the offer has dragged due to specialist reports) and the vendor wants completion 5 weeks from now.

We are renting and don't want to set a completion date until exchange - we really don't want to leave ourselves potentially homeless! Can I just say this?

Vendor wants a target completion in 5 weeks.. if the mortgage offer, searches, surveys, queries etc are mostly done then now is the time to discuss dates. You're not committed to a completion date until everything is done and the chosen date is in the contracts which are exchanged. The discussion can't happen after exchange as the date needs to be in the contract for exchange.

You won't be homeless as long as you don't give notice until you have exchanged. The order should go as follows: 1a/1b/1c can be in any order

1a. mortgage offer, searches, surveys, other queries etc
1b. discuss completion date and tentatively agree
1c. pre-sign contract leaving date blank, pay deposit to solicitor

2. exchange contracts (sol will pay deposit on, fill in firm completion date)

3. give notice on your rental

4. complete on the date agreed per exchanged contracts.