Completion Date passed but nothing happened?

Thrugelmir

Adezoo said:

Thrugelmir said:

Adezoo said:

Thrugelmir said:

What was the completion date? 

The completion date as per contract written by the seller is today before 2 pm. Anything after that is to be consider next day.

With the Xmas shutdown. Completion was never going to be achieved today. There'll be an extension. 

I understand that but completion was set for the 5th of January by the seller not me, so that should have been taken into consideration. Also, I had to instruct a solicitor and pay £600 more just to complete by the date. How’s that fair? 

What has your solicitor said? 

A day or so is neither here nor there in the greater scheme of things. 

Adezoo

TBG01 said:

A completion statement is provided by your Solicitor. 

Yeah after communicating with seller solicitor 

Adezoo

Thrugelmir said:

Adezoo said:

Thrugelmir said:

Adezoo said:

Thrugelmir said:

What was the completion date? 

The completion date as per contract written by the seller is today before 2 pm. Anything after that is to be consider next day.

With the Xmas shutdown. Completion was never going to be achieved today. There'll be an extension. 

I understand that but completion was set for the 5th of January by the seller not me, so that should have been taken into consideration. Also, I had to instruct a solicitor and pay £600 more just to complete by the date. How’s that fair? 

What has your solicitor said? 

A day or so is neither here nor there in the greater scheme of things. 

That we were ready for completion from my side. I’ll contact again tomorrow to know more but from the contract drafted by the seller, completion was set today before 2pm, after 2pm is counted as next day. I am not looking to go through any process of completion after today. I’ve already set aside my holidays just for this..

TBG01

Adezoo said:

TBG01 said:

A completion statement is provided by your Solicitor. 

Yeah after communicating with seller solicitor 

No, your solicitor will know all of the fees to complete. They don't need that information from the sellers solicitor.

Slithery

How did you expect to complete if you hadn't sent the funds to the vendor?

This one sounds like your fault to me.

saajan_12

Regardless of completion statement, its up to you to transfer the purchase price to the seller's solicitor by today. If they then don't hand over the property, then yes they've failed to complete, but before that point it would be you not completing.

No documents change this. A completion statement just clarifies other monies eg if there was a retention, service charges, your solicitor fees, stamp duty, etc. This is usually your solicitor's responsibility but even if its part of the exchanged contract, it would not be a material term - ie if they fail then you can just get compensation for the extra admin, but completion still expected to go ahead. 

GDB2222

Adezoo said:

Thrugelmir said:

Adezoo said:

Thrugelmir said:

Adezoo said:

Thrugelmir said:

What was the completion date? 

The completion date as per contract written by the seller is today before 2 pm. Anything after that is to be consider next day.

With the Xmas shutdown. Completion was never going to be achieved today. There'll be an extension. 

I understand that but completion was set for the 5th of January by the seller not me, so that should have been taken into consideration. Also, I had to instruct a solicitor and pay £600 more just to complete by the date. How’s that fair? 

What has your solicitor said? 

A day or so is neither here nor there in the greater scheme of things. 

That we were ready for completion from my side. I’ll contact again tomorrow to know more but from the contract drafted by the seller, completion was set today before 2pm, after 2pm is counted as next day. I am not looking to go through any process of completion after today. I’ve already set aside my holidays just for this..

Under the standard conditions of sale, time is not of the essence until one party or the other serves a completion notice. That then gives a further two weeks for completion to take place. In other words, you are still bound to the purchase until that notice has been served and the two weeks have elapsed. 

pinkshoes

@Adezoo did completion happen by 2pm yesterday?

If not, has your solicitor sent a notice to complete to the seller?

If they failed to complete and you bought the property by mistake, then speak to your solicitor and get them to negotiate. Your options are probably negotiation of cancelling the sale and getting your deposit back, or forcing them to complete the sale, claiming whatever compensation is due for failing to complete, then at least the compensation will cover any losses when you re-sell it.

Tiglet2

Adezoo said:

Amixo3032 said:

Here we go ..

Was it an unconditional auction? You were committed to buy - usually with completion in 28 days.

Presumably you instructed a solicitor and gave them all the paperwork. Hopefully, you didn't just do nothing !!!! *mad * 

The completion was set within 20 working days. I did my own work, I’ve been sending several emails everyday. Responded to my emails on time. Sent back all details. Money is readily available and I’ve waited on the day of completion but no response. Not sure how you would call that me doing nothing…

Have you not sent your readily available money to your solicitor?  Have they asked for it yet or are there still some matters outstanding?  If your solicitor does not hold your monies for completion, they cannot complete obviously.

If you have already sent the completion monies to your solicitor and they have sent the purchase monies prior to the completion date of 5th January to the seller's solicitor, then it could be deemed to have failed to complete on the agreed date.  Do you know if the seller's solicitor was still waiting for the seller to return the signed Transfer Deed for example?  If so, they may have sent the purchase monies back to your solicitor pending receipt of the signed Transfer Deed.  If this is the reason for the failure of the completion, then your solicitor would serve a Notice to Complete to the seller's solicitor.

I very much doubt you can be refunded all your monies due to a change of mind.  I am assuming that you 'exchanged' on the day of the auction and you and your solicitor had read through the legal pack before you bid.  

I don't understand what you mean by " I am not interested in trying to do any late completion as I do not have time."  You have entered into an agreement and you are unlikely to get out of this easily.  Perhaps speak to the auction house or read the terms and conditions of the auction to find out what the penalties are for pulling out of the purchase. 

london21

Adezoo said:

TBG01 said:

A completion statement is provided by your Solicitor. 

Yeah after communicating with seller solicitor 

You know your solicitor did he contact the seller's solicitor to agree a completion date because my solicitor had to contact the seller's solicitor for this as with he auction already exchanged just pending completion.