Error in completion statement

diane39

We're die to complete on monday and last night we received our completion statement. A massive error,its a rtb property We're buying it for £59,000,on the statement it's got the purchase price at £118,000.It says they received £59,000 from building society which is our mortage, so they want us to pay the balance of £60,000.Ive emailed them but cos it's the weekend, i can only assume we won't be completing on Monday.
We started this rtb process last may,we had to re apply for our mortage again cos the original offer expired,We're so frustrated with it all.

The £118,000 was the full valuation of the property, i had 50% discount due to being a long term council tenant. 

Any advice would be so appreciated, we haven't done this before,we used an online solicitor, which i wouldn't advise.

SDLT_Geek

diane39 said:

We're die to complete on monday and last night we received our completion statement. A massive error,its a rtb property We're buying it for £59,000,on the statement it's got the purchase price at £118,000.It says they received £59,000 from building society which is our mortage, so they want us to pay the balance of £60,000.Ive emailed them but cos it's the weekend, i can only assume we won't be completing on Monday.
We started this rtb process last may,we had to re apply for our mortage again cos the original offer expired,We're so frustrated with it all.

The £118,000 was the full valuation of the property, i had 50% discount due to being a long term council tenant. 

Any advice would be so appreciated, we haven't done this before,we used an online solicitor, which i wouldn't advise.

From what you say, this is an obvious slip which can be resolved quickly and need not delay completion.

Flugelhorn

what did it say on the exchange documentation that you signed?

user1977

Getting the completion statement on Friday night for Monday completion isn't great even if it were accurate, but if necessary the error can be corrected and money transferred on Monday. There's no legal significance to the statement, you can work out the figure yourself and send the correct balance (ie deduct £59k).

Given this is a RTB purchase I presume the completion date isn't critical anyway? 

canaldumidi

user1977 said:

Given this is a RTB purchase I presume the completion date isn't critical anyway? 

And I'm guessing you haven't Exchanged, so there's no legal, financial, or practical impact if you Complete a day or two later.

Tiglet2

canaldumidi said:

user1977 said:

Given this is a RTB purchase I presume the completion date isn't critical anyway? 

And I'm guessing you haven't Exchanged, so there's no legal, financial, or practical impact if you Complete a day or two later.

In general, there is no Exchange and Councils will only allow RTB completions to take place on a Monday.  

Thrugelmir

Be a clerical oversight. Easily resolved. You've responded so job done. 

diggingdude

Just complete next Monday instead?