Barratt - are they strict on 28day completion?

Loubell83

Hi.

I’ve reserved a plot with Barratt for £500 and the sales advisor said not to worry about the 28 day completion deadline as it’s always extended.

My solicitor has advised me that Barratt will pull the plug if I don’t make 28 days and May decline a request for an extension.

I need to wait for my house sale to be complete before exchanging contracts which will be 1/2 weeks past the deadline.

Does anyone have experience with this? Are Barratt usually flexible
with the 28 completion deadline? 

The sales advisor assured me there was no issue so I now feel I’ve been lied to!

Thanks

Flugelhorn

it'll be 28 day exchange (not completion), completion will depend on whether the house is ready - they may put some pressure on you but TBH if they start again with someone else it is going to take a lot longer before they get their money

Loubell83

Flugelhorn said:

it'll be 28 day exchange (not completion), completion will depend on whether the house is ready - they may put some pressure on you but TBH if they start again with someone else it is going to take a lot longer before they get their money

Yeah that’s what I meant. The lingo is all new to me 🙈

Tiglet2

Loubell83 said:

Hi.

I’ve reserved a plot with Barratt for £500 and the sales advisor said not to worry about the 28 day completion deadline as it’s always extended.

My solicitor has advised me that Barratt will pull the plug if I don’t make 28 days and May decline a request for an extension.

I need to wait for my house sale to be complete before exchanging contracts which will be 1/2 weeks past the deadline.

Does anyone have experience with this? Are Barratt usually flexible
with the 28 completion deadline? 

The sales advisor assured me there was no issue so I now feel I’ve been lied to!

Thanks

Are you using Barratt's 'recommended' solicitor?

The 28 days can only be counted from the date your solicitor received the draft contracts.  Your solicitor then has to do the conveyancing work on your behalf, whether that takes 28 days or 128 days.  Provided Barratt can see that progress is being made, they tend to go along with any timescale.

Loubell83

Tiglet2 said:

Loubell83 said:

Hi.

I’ve reserved a plot with Barratt for £500 and the sales advisor said not to worry about the 28 day completion deadline as it’s always extended.

My solicitor has advised me that Barratt will pull the plug if I don’t make 28 days and May decline a request for an extension.

I need to wait for my house sale to be complete before exchanging contracts which will be 1/2 weeks past the deadline.

Does anyone have experience with this? Are Barratt usually flexible
with the 28 completion deadline? 

The sales advisor assured me there was no issue so I now feel I’ve been lied to!

Thanks

Are you using Barratt's 'recommended' solicitor?

The 28 days can only be counted from the date your solicitor received the draft contracts.  Your solicitor then has to do the conveyancing work on your behalf, whether that takes 28 days or 128 days.  Provided Barratt can see that progress is being made, they tend to go along with any timescale.

I’m using my own solicitor as I’m selling a property already. 

As I need to complete on my sale I won’t make the 28 day exchange deadline.

Slithery

Are you planning to complete on both properties at the same time or will you be moving into temporary accommodation inbetween?

Loubell83

Slithery said:

Are you planning to complete on both properties at the same time or will you be moving into temporary accommodation inbetween?

I’ve already got my rental
set up as the property won’t be ready until late summer. 

Flugelhorn

I am sure if they can see progress then they will be fine - main thing is that the solicitors communicate

Loubell83

Flugelhorn said:

I am sure if they can see progress then they will be fine - main thing is that the solicitors communicate

I hope so. I just think the 28 day deadline is unrealistic if you’re in the process of selling another property! 

Flugelhorn

Loubell83 said:

Flugelhorn said:

I am sure if they can see progress then they will be fine - main thing is that the solicitors communicate

I hope so. I just think the 28 day deadline is unrealistic if you’re in the process of selling another property! 

absolutely, I have been a cash buyer with no chain in any direction and we have just about managed 28 days but it always seem like a bit of luck and a fair wind