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Delay my house purchase?

homeless9
Posts: 375 Forumite

One article from Financial Times is saying that the government has put the housing market on hold, but people can still move house if they have exchanged contracts.
https://www.ft.com/content/c08ec3d9-079e-40ff-baae-11388c650f6c
I guess that means I HAVE TO pause my house purchase? which is currently waiting for 2 more search reports to come back and then I would be sending the deposit/exchanging contracts/completing.
I am buying a new build which is already built and ready to move into, though understandably the estate agent / seller cancelled the snagging meeting we had arranged for yesterday due to the lockdown so that will need to be done. The estate agent said that we can do that after I have completed (not sure if that's sensible or not, or I should make sure snagging is done before I complete?)....
Anyhow, it makes sense for me to delay paying the deposit/exchanging contracts/completing anyway, as this is a crazy and uncertain time.
Would you wonderful people recommend I use the governments lockdown as an excuse to delay finishing off this sale? It will give me some time to see what exactly happens to the housing market & economy etc.
Is it possible the seller would make an issue out of this? I mean....as I said......they already cancelled the snagging meeting, so they should respect me delaying for the same reasons.....that we should not be meeting up under lockdown.
https://www.ft.com/content/c08ec3d9-079e-40ff-baae-11388c650f6c
I guess that means I HAVE TO pause my house purchase? which is currently waiting for 2 more search reports to come back and then I would be sending the deposit/exchanging contracts/completing.
I am buying a new build which is already built and ready to move into, though understandably the estate agent / seller cancelled the snagging meeting we had arranged for yesterday due to the lockdown so that will need to be done. The estate agent said that we can do that after I have completed (not sure if that's sensible or not, or I should make sure snagging is done before I complete?)....
Anyhow, it makes sense for me to delay paying the deposit/exchanging contracts/completing anyway, as this is a crazy and uncertain time.
Would you wonderful people recommend I use the governments lockdown as an excuse to delay finishing off this sale? It will give me some time to see what exactly happens to the housing market & economy etc.
Is it possible the seller would make an issue out of this? I mean....as I said......they already cancelled the snagging meeting, so they should respect me delaying for the same reasons.....that we should not be meeting up under lockdown.
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