Completion nightmare

Thrugelmir

Monkeysocks33 wrote: »

then Barclays online went down.

Funds are CHAPS transfered from solicitor.

If it was your sons money. Then should have been sent with plenty of time to spare.

PersianCatLady

I appreciate this is not helpful now but it may be helpful for others in the future.

Many people arrange to complete and move house on a Friday because they logically think that they will have the whole weekend to get organised and it will make moving easier.

Unfortunately, when something does not go smoothly, it means that you often cannot get things resolved until Monday morning (at the earliest) as most solicitors do not work on weekends.

paddy's_mum

Monkeysocks33 wrote: »

the agent called and said he couldn't have them after all

In your shoes, I'd be taking very careful note of who the agents are and they would never get the chance to do business with me again in this life.

I'd also be spreading the word around neighbours, colleagues, relatives...t'aint libellous if it's true.

mrschaucer

To be fair, if you are working to the Standard Contract (which you suggested you were) then it does say (quote):

6.1.2 If the money due on completion is received after 2.00pm, completion is to be treated, for the purposes only of conditions 6.3 and 7.2, as taking place on the next working day as a result of the buyer's default.(Unquote)

Did your son manage to complete by 2pm?

Edit - 7.2 deals with compensation.

Slithery

And this is the main reason that I've never completed on a Friday...

pinkteapot

What happened, OP?

Outcome might help anyone in the same situation in the future.

I was thinking about the clause above from the Standard Contract. If a buyer transfers their deposit to their solicitor well in advance of completion, how can they end up out of pocket if their solicitor fails to transfer the money quickly enough on the day because a banking system goes down? :eek: