Accepted offer - now buyer wants to specify a late completion date

bertiewhite

Prince beat me to it - mention exchange dates and that might firm them up. AFAIA, completion date is usually agreed on exchange.

Tiglet2

Goldust wrote: »

Yes - it's straightforward. No leasehold, no management company, no major issues when I purchased it.


I like the idea of saying I'll put it back on the market if it stalls but would I have to get the solicitor to agree and formalise that or can I just tell the agent?

Is this in England? What makes you think your flat isn't leasehold? December is 5 months away and honestly, it would be quite normal for a leasehold purchase to take 5 months for the transaction to complete in any case. If you're saying that your flat is freehold, then that would be quite unusual - most lenders don't lend on freehold flats in England.

Yalpsmol

Another one who thinks December for a leasehold flat (freehold im England...? Are you elsewhere?) Is reasonable anyway. But if they dont have the money now then I would put it back on market for someone else to move into in December (or whenever). Shouldnt even be viewing properties if they dont have their deposit (and need 5 months to save for it!) And more fool them for telling you about December and ordering a survey before they are in a position to proceed. Seems mad they will risk paying solicitors fees etc for a flat they cant afford...

Yalpsmol

Also if its to do with getting their mortgage then if they are waiting to apply until November then their valuation wont be until then and then you risk the sale falling through or accepting even less in the instance its valued for less than theyve offered...etc etc

ethank

So when are they expecting to exchange contracts? Because they will need mortgage in place and deposit to exchange. Do they really expect you to sit around for half a year waiting for them to exchange. I would be putting the house back on the market!

kinger101

Did you estate agent get proof of deposit and mortgage DIP?

It's normally the minimum information they obtain before recommending you take it off the market. Without this, they're not a proceedable buyer.

Their solicitor will not let them exchange until they have funds in place anyway (as they'll also be acting on behalf of the bank).

It sounds to me like little progress will be made before December.

I'd remarket, unless the "buyer" did something more substantial to convince me they're ready.