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EA pushing for Exchange Date but not Completion date. Why..??
sujsuj
Posts: 881
Forumite
Had chat with EA in the chain, he is very keen to push and agree on an exchange date. But not eagerness on completion date..Any idea why..? He want to agree a quick exchange date and keen 'to have an idea about completion date'!!! I am not keen to move but I want to make sure completion done earliest in the current deteriating covid situation. Whats the best way to convey this ? to my solicitor or my EA or my seller's EA..? How early I need to say this..? I think its big danger to do exchange and stuck in current home due to Covid etc...Please advise..
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Comments
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So they want you to exchange but not set a completion date? Speak with your solicitor and see what they would advise.0
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If you have any particular wishes, let your solicitor know.1
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You can't exchange contracts without an agreed completion date unless it's a newbuild.
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1 -
Everyone in a chain can 'agree on an exchange date' but until all parties are ready, solicitors will advise against actually exchanging. So.... feel free to agree with what EA's client is suggesting as exchange date if it suits you. Doesn't mean it will happen on that date though
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Thanks for the inputs..0
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Getting everyone to agree on a target date is part of the process. Often requires give and take.0
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EAs often have the gift of the gab - doesn't mean it makes sense! They just like saying the word "exchange" because it sends everyone into a frenzy, except everyones' solicitor!0
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EA wants an Exchange date because that binds the contract and asures him that he will receive his commission.Whether Completion takes place the same day, a week later, or 2months later, he does not much care. Completion will happen once Exchange has happened so he will get his commission.Ignore the agent and discuss your preferred dates with your solicitor, alongside his advice as to what is possible.1
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But whats in for me or anyone in the chain to push for an exchange date then wait longer for completion date..? We paid for new house but then allowing someone to occupy and take care of the house.0
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You haven't paid for it at exchange.0
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