Fixed Completion, no exchange date and rental notice

OmegaAlpha

G_M wrote: »

?? What you said was "a fixed completion of 20th December".

Yes, confusion with terms used. Fixed completion put forward by vendor solicitor of 20th December, however first fix from a build status a few weeks ago.

[QUOTE=alex_163163;76501170
You should really have budgeted for a months overlap in your financial planning.

The house might be finished in terms of building by 20th Dec, but the delays could come from not getting council building control sign off by then. It is very close To Christmas.[/QUOTE]

Yes we could easily afford to stay the extra month, I'm just trying to be extremely cost effective. Good point regarding building control, that is something which is less controllable.

GDB2222 wrote: »

Was the solicitor recommended by the builder? The suggestion of simultaneous exchange and completion suits the builder wonderfully, but it puts you in a dreadful position, as you cannot sensibly give notice to your landlord until after exchange.

Nope, I was surprised they didnt even mention any solicitors. This is a local firm who my family have used for 30+ years.

OmegaAlpha

AdrianC wrote: »

Have you actually had a conversation with your landlord? He may well be perfectly understanding, and willing to be flexible.

Yes I let the letting agent know informally that we could be giving notice at the end of the month, as both letting agent and LL have been good to us for the past 6 years (no rent increases and generally any issues we've had been sorted within a couple of days)

AdrianC

OmegaAlpha wrote: »

Yes I let the letting agent know informally that we could be giving notice at the end of the month, as both letting agent and LL have been good to us for the past 6 years (no rent increases and generally any issues we've had been sorted within a couple of days)

But you haven't spoken to the landlord, explained the situation, and asked if he'd be willing to be flexible?

OmegaAlpha

Hi,

As an update and closure on this thread: we exchanged today and I was notified while in the letting agents office minutes after I gave them my formal notice at 5pm.

This week was quite manic with the developer threatening to retract and remarket (I knew it was an idle threat) and my solicitor on holiday but thanks to an amazing secretary and my IFA we made it through a number of challenges.

jaybeetoo

Builders usually have an incentive to complete before year end (to do with how year end bonuses are paid). Check your house carefully before completion - builders have a habit of rushing things especially at year end when they have lots of houses to complete. Go through your new house with a fine tooth comb (including the loft - our builder forgot to put in the insulation!!!!).

OmegaAlpha

jaybeetoo wrote: »

Builders usually have an incentive to complete before year end (to do with how year end bonuses are paid). Check your house carefully before completion - builders have a habit of rushing things especially at year end when they have lots of houses to complete. Go through your new house with a fine tooth comb (including the loft - our builder forgot to put in the insulation!!!!).

It's their FY year end, and being a PLC will need to ensure as much revenue booked as possible. I have high quality expectations but low expectation that on completion it will be :rotfl:

Plan is to get snagging survey done on the 27th. I'm fully expecting that we wont see a trades person until at least the new year though!

pinkteapot

Don’t hand your notice in!

We completed on a new-build a couple of weeks ago. It was ready five days later than they’d said but there was then a ten-day delay in the warranty company issuing the warranty - and we couldn’t complete till the warranty was in place as the bank wouldn’t release mortgage funds without it.

We hadn’t been ready to exchange till near completion, so we’d asked to exchange contracts as soon as the warranty was issued with completion one week later, which the builder agreed to (rather than the usual for new builds of exchange ASAP with completion on notice).

We didn’t tell our letting agent until we’d exchanged contracts. We got lucky - the LL agreed to let us out early and we only had to pay a pro-rata part month’s rent. Probably because the rental was in a hugely popular area - within two days of us telling them, we’d had someone round to view who wanted the house as soon as we moved out. It doesn’t hurt to ask as you might get lucky with a generous LL.

The time of year is the other reason not to hand in notice - because of Christmas, if it is delayed it’ll certainly be by at least a couple of weeks. Plus you’d be looking for temp accommodation over holiday season.

pinkteapot

D’oh! Just realised you were updating so I’m late to the thread. Congratulations on getting it all sorted!!