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Exchange of Contract / Completion deadlines.
Comments
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I'm in a very similar position, hoping to exchange and complete ASAP on an empty property which would let me move out my mum's and my partner move out of his HMO, we're both currently still working so reduced risk all round that way if the practical problems can be overcome.0
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homeless9 said:greatcrested said:homeless9 said:Thrugelmir said:Has your vendor specified a date that the transaction must be completed by?
Completion date: 31st April.6th April is just a hoped for date. You and vendor may or may not achieve it.31st (30th?) April is mad in the current situation!
Those are the dates written onto the reservation form before all this corona madness happened.
The Solicitor has said that they are aiming for exchange of contracts and completion on the same day.
I am unsure of exactly whether I can continue with the purchase or not....
-There is some rule stating that if you have exchanged you can continue. I have not exchanged.
-There is some rule stating that if you are moving into a occupied house, ie. there is a chain of people that need to move - then you should hold off. If you are moving into an empty home then that is ok. (the home I am buying is empty).
-There is a rule stating you should try to hold off unless you can't agree to.
I am not sure if it's actually better off for me to pause the sale and see what happens with the economy/house prices and maybe offer less for the property when everything opens up again after this devastation.
Or
Just go ahead with the purchase and get in my own home. On a health and safety basis it is better for me to move. I am moving into an empty home (new build), I do not need a removals company as I can just move my things with my car. I am a key worker so I am still going out to work with other colleagues and bumping into customers. I live in a HMO with other tenants. Therefore I am a risk to them and they are a risk to me. I'd be safer and they'd be safer if I was in my own home on my own. So it's safer to move. It just means that I need to get hold of the keys in a safe manner. Surely a few keys could just be sent in the post if necessary. Or the seller just leaves them under doormat at a designated time. 5 minutes before I arrive and drives off when he sees me take them and enter the house. Done.0 -
Missy79 said:I'm in a very similar position, hoping to exchange and complete ASAP on an empty property which would let me move out my mum's and my partner move out of his HMO, we're both currently still working so reduced risk all round that way if the practical problems can be overcome.
I am just not 100% clear if we are allowed to continue, but yeah, for you and me it is safer for us to move. So if the government has no flexibility it's ridiculous, as if they are saying I am not allowed to continue with the purchase then they are locking me into a house with other tenants who are coming in and out as well as me coming in and out from work.
I believe the buying process is almost complete. A couple of searches to come back and then I believe we exchange contracts and complete. Will contact solicitor tomorrow and see what's going on.0
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