Change the completion date AFTER exchange?

soplum

Hi all,

I am a first time buyer and we exchanged today!!! 

We all agreed on a date to complete.

As the pessimist I am, I’m wondering if the completion date will be pushed back if anyone changed their mind? 

I DONT want to change the completion date, just don’t want to get my hopes 100% up incase the completion day moves!

tIA

user1977

Nothing in the contract changes unless the parties agree to. That's kinda the point of having a contract. 

MaryNB

If the seller doesn't move out on completion date (which is rare and not something to stress over) you can start claiming costs against them as they're in breach of contract. 

If you've exchanged don't stress about completing. Things can go wrong but major issues with completions are rare and the buying process is stressful enough without worrying about things unlikely to happen.

eddddy

A 'typical' contract will have a fixed completion date. That can't be unilaterally changed by one party - both buyer and seller would need to agree to changing it. So, if you don't agree, it can't be changed.


It is possible (but unusual) to have a completion date which isn't fixed - but you should be very well aware of that, if it applies to your contract.

For example, if the person at the top of the chain was buying a newbuild, it could be that everyone in the chain agrees to have  contracts without fixed completion dates. So everyone waits until the newbuild is finished and then the whole chain moves. And the newbuild might get delayed, so completion is later than expected. (But as I say, you should be fully aware of that already, if it applies to you.)

london21

It can only be changed if both parties agree.
I bought a property at auction.
Upon winning the auction we automatically exchanged.
The contract had a clause that can request to complete earlier with 3 working days notice.
So my solicitor requested to complete earlier due to stamp duty holiday deadline.

Flugelhorn

we completed during first lockdown (having exchanged before it started) - there was a lot of discussion at the time about changing the date (from vendors not us)  - both sides would have to agree and then it could be changed, not a case of just one person changing their mind.