Offer accepted on a part ex house from builder, contract says 28 day exchange??

MalcRH12

I purchased a part exchanged house and also had the 28 day exchange clause. In reality though, it never took effect and I ended up exchanging 10 weeks after offer acceptance. I too raised the clause with the EA and solicitors and they both stated it was standard practise and nothing to worry about. Obviously can only speak from my own experience but hope that helps.

lilsweetie

Malc that’s really reassuring to hear, I wasn’t sure if the estate agent was just telling me what I wanted to hear with the ‘don’t worry about it’ but really glad to read your post. Thank you for replying.

GDB2222

'hence it’s been put up for sale at a great price'

You have to decide whether the price makes up for the inconvenience. If you’re in rented accommodation the 'completion on notice' means you will end up paying rent for a few days after completion. You need to factor that cost in.

28 days to exchange is perfectly doable in some circumstances. But, you can only exchange when everything is lined up, survey, searches and so on, and the builders know that perfectly well.