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Shared ownership - dictated time to complete
c_grace
Posts: 2 Newbie
I am very aware of how un-ideal shared ownership is, but unfortunately due to tricky circumstances I am selling a property and applying for shared ownership as an alternative to renting. One property I am looking at has just tried to cancel a viewing due to the flat I'm selling only just being under offer (so we are looking at a minimum of 2/3 months before completion) citing that they have a deadline of 28 days from reservation to completion, for anyone buying one of their flats.
This seems totally unrealistic, and I was wondering if anyone has ever come across this before or if as a buyer you have any rights at all? I'm imagining there are no rules and the developer can dictate what they like, but any opinion or advice would be very welcome.
This seems totally unrealistic, and I was wondering if anyone has ever come across this before or if as a buyer you have any rights at all? I'm imagining there are no rules and the developer can dictate what they like, but any opinion or advice would be very welcome.
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Comments
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Completion? or exchange?
Pretty standard for developers generally (rather than specifically shared ownership) to ask you to exchange within that sort of period. In practice though they realise it's usually not possible, and they're not likely to ditch you and start from scratch with somebody else, as long as you appear to be trying to progress matters.1 -
Aah sorry it's exchange.0
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