Early Exchange of Contracts - Need some guidance

fragilecliche

Thank you for your comments. Yes, I fully appreciate that there are too many variables and that the developer cannot guarantee a fixed completion date, however we know of a number of people who gave recently moved into new builds and have still had a fixed completion date and moved into alternative accommodation. Sellers have had two buyers pull out already due to this and whilst we are ok to exchange contracts early and be as flexible as we can, we feel the seller will need to meet us somewhere and that our expectation of that isn't unreasonable. 

They Are saying the property should be done bylate April/early May, all we want is to be able to move without the worry of our mortgage offer expiring, which once its offered, would imagine would be Mid-Late June. I really don't think that's an unreasonable request and feel that's offering a more than reasonable compromise given the early exchange request.

fragilecliche

Hi, 

I wanted to thank you all for the advice given on this thread, it was really useful and enabled us to be clear on what we were asking from our conveyancer.

Due to time it took for searches and enquiries, we didn't end up exchanging on this property until this week (much happier with that, than the 28 day turnaround they initially wanted) and due to the helpful comments made in this thread, we were able to ask for a long stop date, which was initially for 28th June, requested by our solicitors. After that was requested, the developers came back asking for a long stop date of 13th May, due to the build being ahead of schedule. Given our mortgage offer doesn't expire until 13th July, we're feeling much happier with this. Still felt uneasy about early exchange, but this wasn't a house we wanted to lose out on, so have gone for it, as we're happy with the long stop date.

I really did value the feedback in this thread, so massive thanks all!

themainman84

That's great, best of luck with the move