Help - buyer wants to stay on after completion??????`

atrebor

Can you complete on a saturday?

Generali

atrebor wrote: »

Can you complete on a saturday?

I doubt it - you can't transfer the money on a Saturday as CHAPS (money transfer system) is closed.

If the money can't move then you can't complete.

atrebor

I'm inclined to agree with you all, but i'm worried that if we insist on the friday completion date (dh has taken saturday off to move) then what if they simply don't move out by completion then what do I do?

Ian_W

Speak to your solicitor about this ASAP. Completion almost always comes with VACANT POSSESSION - that means they should be moved out by the time your money hits their solicitors bank account.
They are talking cobblers when they say they can't move until you complete, nothing to stop their possessions being on the van and ready to go as most chains complete in this way every day of the week - except Saturdays and Sundays [as solicitors require telephone no's to miss their 4ball!].
In all probability it wouldn't cause a problem to let them stay - but what if they decide Sunday or Monday is better for them? Or if they cause some damage when it's legally your home.
You've both exchanged so you're both bound to the contract, they're trying to renege on part of the deal. Alternatively, tell them they can stay but you want £500 for the night - bet they get out pretty damn quick!

Jonbvn

Generali wrote: »

Patronising and annoying.

NB Patronising - A long word meaning to talk down to another

Moi patronising? Never!

guppy

I assume (hope) you're only asking this question here because you can't ask your solicitor until Monday? Anyway, from your post its clear you already know the answer, but are just seeking confirmation that you aren't being mean You're not.

Anyway, to summarise :

The house is no doubt being sold empty and with vacant possession, not with a sitting tenant or a squatter. Your mortgage company (I assume) is lending you the money on this basis.

If you hand over your hard earned cash with the vendor in occupation and for some reason the vendor decides not to move out, there is nothing you can do about it in the short term. You would need to go to court to get possession and this could take weeks leaving you homeless in the meantime. If you'd already agreed to let them stay this might prevent you from suing for breach of contract.

They are clearly taking the mickey, how do they think 99% of other people manage to move? They pack up their stuff, put it in storage or a van, or stay in a hotel. Whatever inconvenience you saying "no" causes, it is entirely their fault.

Frankly, whatever they do, its not for you to worry about. The average house price is £250k, that's not a sum I'd be comfortable gambling with. As Generali so succinctly said, "Don't let their problem become yours".

Rant over.

P.S. They will move out if you say "no" because they will know you are serious. If you let them stay, they will know you are a pushover. They are just trying to have their cake and eat it. And your's too by the sounds of it!

atrebor

guppy wrote: »

I assume (hope) you're only asking this question here because you can't ask your solicitor until Monday? Anyway, from your post its clear you already know the answer, but are just seeking confirmation that you aren't being mean You're not.

Yup you're right, this only came up tonight when I checked my email from the estate agents. I nearly didn't phone them as I'm not big on talking directly with the vendor, but figured that it might me something important.......more fool me.

because I am a coward I@m going to hide behind the mortgage company and say they won't let me complete without vacant possetion.....

but there is just one small part of me that says just because i'm a money saver doesn't mean that everyone else is out to get me and would it really hurt for just one night...... but you're right. Its money I don't want' to gamble with ...... i'm just a sucker for a good sob story No doubt you guys will beat it out of me eventually....

guppy

atrebor wrote: »

i'm just a sucker for a good sob story No doubt you guys will beat it out of me eventually....

Aren't we all...but £200k and the risk of being homeless isn't negotiable whack!

Nenen

atrebor wrote: »

guppy wrote: »

because I am a coward I@m going to hide behind the mortgage company and say they won't let me complete without vacant possetion.....

but there is just one small part of me that says just because i'm a money saver doesn't mean that everyone else is out to get me and would it really hurt for just one night...... but you're right. Its money I don't want' to gamble with ...... i'm just a sucker for a good sob story No doubt you guys will beat it out of me eventually....

If it's any consolation I felt really bad when we sold our house as the nice young couple who were buying weren't planning on moving in the day of exchange so would be at work and couldn't come to pick up the keys Our EA offered to hold the keys but they were 10 miles away (we lived in a rural area) and it would have been very inconvenient for both us and our buyers to take/fetch the keys from EA. The buyers asked us if they could come and collect one set of keys the night before completion and then we could leave the rest in the house upon completion. I was initially happy to do this. However, I thought I'd better check with our solicitor and he was aghast! He advised strongly that we wait until his call telling us all monies had gone through before handing over keys and suggested once this had happened we could hand the keys to our buyers Granny who lived in our village. Thus we managed to sort it out. Our solicitor said it really wasn't worth the risk to hand over keys early.

In your case, maybe... just maybe... for them to stay 'wouldn't hurt just for one night' but the fact is that you'd be gambling your family's furture on that 'maybe'!

I assume you've already exchanged contracts and they've agreed to the Friday completion date already. If so, then legally they have to vacate upon completion and they would have known this on exchange. They should have tied up their next purchase to complete on the same day as their sale. As a PP has already said, the vast majority of sale/purchases do complete on the same day (often invloving long chains of 6-8 houses) and people have all their stuff loaded into a van ready to go as soon as they get the call from their solicitor that money has been transferred (usually around midday). If, for whatever reason, they really cannot get into their new place until Saturday they'll just have to pay their removal firm to store their things on the lorry overnight while they stay in a hotel.

You sound a very kind person to even be considering letting them stay and in an ideal world, where everyone was as honest and kind as you, this shouldn't be a problem. However, as you've said yourself, you don't know these people from Adam... and even if they are completely above board (though personally I doubt it because their story sounds so fishy) you could let yourself in for all sorts of problems if you agree... for example... what happens if they accidently set the place on fire on Friday night? Would your insurance cover that? I doubt it!

You say you don't know what you'll do if you turn up Friday and they refuse to leave... at least your solicitors will be open for advice... if you turn up on Saturday and they refuse who will you turn to?

I'd be on the phone to your solicitor first thing in the morning if I were you. I certainly think it is a good idea to 'hide behind' your mortgage company or (as in our case) your solicitor! Good luck and let us know how it goes.

jlj_2

We had a similar thing happen when we bought our house. The people selling it said they were not going to move out until 1 week after completion (this was the day before we were due to complete and move in).
We explained that we had a van booked, days off work etc and eventually they did move out on time but it was worrying as i'm not sure what we'd have done if they were still there when we arrived.