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Stressful Completion - Seller Refused to Move Out!
Comments
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Ath_Wat said:user1977 said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
3 -
Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.
From a legal perspective, Completion is usually done over the phone on the contractually agreed date when the solicitors confirm receipt of funds and the keys can be released. As far as the solicitor is aware, completion has occurred.
The solicitor is not aware or party to the situation on the ground however, for example they don't know if the seller has vacated or if they are still packing, as they do not visit the property at completion (nor at any time during the conveyancing).
As has been said before, a completion time of 2pm can be flexible. The flow of monies from the beginning of the chain to the end can take many hours and the last person in chain is likely to be the last to complete.
The solicitors have completed their part of the transaction and, unless they are advised to the contrary, they would believe that the second part of the contractual transaction will also occur, if not immediately, then later that day. They would not know that Completion had NOT taken place until they were told.
So, for Completion to have taken place, two things are legally required.
1. The agreed purchase monies must be paid (tick), AND
2. The property must be handed over, with vacant possession (assuming vacant possession is in the contract) (not ticked).
In OP's case, the sellers had failed to Complete so the house did not belong to the OP. Whoever fails any of the conditions agreed in the contract at exchange, e.g. not giving vacant possession at completion, not remitting funds etc etc, becomes liable for damages and compensation, because they were in breach of the Contract. The OP is entitled to damages and reimbursement.
To answer your question, Completion is when both points above have been settled. Point 2 was not settled, therefore in this case the OP did not Complete on the contractually agreed Completion Date. During the couple of days between the contractually agreed completion date and the date the OP got vacant possession, the property still belonged to the sellers as completion had not occurred.
Hope that clarifies everything?6 -
Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.0 -
Tiglet2 said:Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.
From a legal perspective, Completion is usually done over the phone on the contractually agreed date when the solicitors confirm receipt of funds and the keys can be released. As far as the solicitor is aware, completion has occurred.
The solicitor is not aware or party to the situation on the ground however, for example they don't know if the seller has vacated or if they are still packing, as they do not visit the property at completion (nor at any time during the conveyancing).
As has been said before, a completion time of 2pm can be flexible. The flow of monies from the beginning of the chain to the end can take many hours and the last person in chain is likely to be the last to complete.
The solicitors have completed their part of the transaction and, unless they are advised to the contrary, they would believe that the second part of the contractual transaction will also occur, if not immediately, then later that day. They would not know that Completion had NOT taken place until they were told.
So, for Completion to have taken place, two things are legally required.
1. The agreed purchase monies must be paid (tick), AND
2. The property must be handed over, with vacant possession (assuming vacant possession is in the contract) (not ticked).
In OP's case, the sellers had failed to Complete so the house did not belong to the OP. Whoever fails any of the conditions agreed in the contract at exchange, e.g. not giving vacant possession at completion, not remitting funds etc etc, becomes liable for damages and compensation, because they were in breach of the Contract. The OP is entitled to damages and reimbursement.
To answer your question, Completion is when both points above have been settled. Point 2 was not settled, therefore in this case the OP did not Complete on the contractually agreed Completion Date. During the couple of days between the contractually agreed completion date and the date the OP got vacant possession, the property still belonged to the sellers as completion had not occurred.
Hope that clarifies everything?
Technically the OP did complete their contractual obligations0 -
TheJP said:Tiglet2 said:Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.
From a legal perspective, Completion is usually done over the phone on the contractually agreed date when the solicitors confirm receipt of funds and the keys can be released. As far as the solicitor is aware, completion has occurred.
The solicitor is not aware or party to the situation on the ground however, for example they don't know if the seller has vacated or if they are still packing, as they do not visit the property at completion (nor at any time during the conveyancing).
As has been said before, a completion time of 2pm can be flexible. The flow of monies from the beginning of the chain to the end can take many hours and the last person in chain is likely to be the last to complete.
The solicitors have completed their part of the transaction and, unless they are advised to the contrary, they would believe that the second part of the contractual transaction will also occur, if not immediately, then later that day. They would not know that Completion had NOT taken place until they were told.
So, for Completion to have taken place, two things are legally required.
1. The agreed purchase monies must be paid (tick), AND
2. The property must be handed over, with vacant possession (assuming vacant possession is in the contract) (not ticked).
In OP's case, the sellers had failed to Complete so the house did not belong to the OP. Whoever fails any of the conditions agreed in the contract at exchange, e.g. not giving vacant possession at completion, not remitting funds etc etc, becomes liable for damages and compensation, because they were in breach of the Contract. The OP is entitled to damages and reimbursement.
To answer your question, Completion is when both points above have been settled. Point 2 was not settled, therefore in this case the OP did not Complete on the contractually agreed Completion Date. During the couple of days between the contractually agreed completion date and the date the OP got vacant possession, the property still belonged to the sellers as completion had not occurred.
Hope that clarifies everything?
Technically the OP did complete their contractual obligations
Yes, I missed the bit where OP had agreed to let the sellers stay until Wednesday, apologies.
However, although the OP completed their contractual obligations, the sellers did not. Therefore it was a failed completion, i.e. completion did not take place. The highlighted sentence was not that the OP didn't complete as per their contractual obligations, but that the transaction did not complete because the sellers failed to offer vacant possession. I should have said 'transaction' rather than OP.1 -
user1977 said:Ath_Wat said:user1977 said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
0 -
TheJP said:Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.0 -
Ath_Wat said:user1977 said:Ath_Wat said:user1977 said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Vacant possession does have to be granted for completion to occur.0 -
Ath_Wat said:TheJP said:Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.
The previous owner has no right to enter the property once keys have been handed over AND the property is vacant.0 -
Ath_Wat said:TheJP said:Ath_Wat said:TheJP said:Ath_Wat said:Emmia said:Ath_Wat said:Tiglet2 said:
From a legal perspective, under standard conditions of sale, the latest time a seller should vacate a property is 2pm. This time can be changed in the contract and will be agreed between the solicitors before contracts are exchanged. Obviously, it is difficult sometimes to judge how quickly the removals van can load up, or the seller is overwhelmed by the amount of work needed to pack, so there should be some leeway given if vacant possession is delayed by an hour or so. However, in this situation, vacant possession did not take place at any time on completion day which meant that the seller was in breach of this. The buyer could/should have notified their solicitor. At this point, OP's solicitor should have called and emailed the seller’s solicitor.
Technically, OP would have been in a position to charge interest as the seller was in breach of contract by not vacating in the specified time. Interest is usually charged at 4% above base so, with today’s base rate of 0.75%, the interest would be calculated as 4.75% of the total purchase price on a pro-rata daily basis. OP could potentially have demanded damages as well, such as extra removal costs, hotel charges and so on, if applicable, though costs should be reasonable and not taking the p.
In reality, it can be difficult to actually receive the interest and damages as the seller needs to agree to the payment. Some sellers will be absolutely upstanding about it and allow their solicitor to deduct interest from their completion funds, if their solicitor hasn’t yet released them to the seller. Other sellers, however, may refuse to do this, and the buyer would need to pursue the amount through the courts. This is something most buyers don’t do as the court costs would probably exceed the amount being claimed.
Hopefully OP is in the middle of moving in now and this will all be a distant memory.
What exactly does vacant possession consist of? If they are not in the house but their possessions/some of their possessions are, is that vacant possession?
If vacant possession is not granted at 2pm (or the arranged time) but the money has been paid, does the buyer have the right to enter the premises by whatever means they deem fit?Vacant possession means...
'When buying or selling a property with ‘vacant possession’ the property needs to be empty on the day of completion. This means the sellers or tenants have moved out and removed all of their belongings, only leaving behind items that have been agreed with the buyer.
In England and Wales a property can be sold either with or without vacant possession.
If the property is sold without vacant possession, this usually means there will be tenants in situ. Any tenancy agreement relating to the property must be included in the contract because when you’re buying a property you need to know who, if anyone, is living in it and on what terms.'
https://www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/what-is-vacant-possession/
Other definition providers are available, but this one seemed to be the most comprehensive...
Also, the lines quoted above suggest that vacant possession is not given (and therefore completion is not achieved) until all belongings have been removed.
I am not getting any clarity on the actual point of completion here.
Even if the seller left all their belongings and still handed over the keys the OP owns the house and would then bill the previous owner for storage or removal of items.0
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