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Asking vendor to postpone completion by a week.
PecrySugden
Posts: 47 Forumite
Our house sale has gone super fast. Both the seller and ourselves spoke of a date of around mid February. We spoke with our agents today and they now want to go for a completion day did the end of this month. We went back.and asked if we could delay this by one week as this would be beneficial for us financially as we are currently in rented accommodation etc. If we'd delay completion by a week,.It's delay out mortgage payment by one month. The seller has said no.
Am I bring unreasonable and what now?
Am I bring unreasonable and what now?
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Comments
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I suppose it depends what position the vendor is in as well.
where are they moving to? What is their position with finances and their personal circumstances?0 -
You could just stick to your guns and tell the seller you can't complete before early February. They would have the option of agreeing to it, proposing something else, or pulling out altogether, although that would be pretty extreme for the sake of a week.
In terms of reasonableness, perhaps your delaying your mortgage payment by a month will incur them mortgage costs due to the delay, so perhaps you both think each other are being unreasonable, who knows.0 -
When I was buying, I found the completion date moved at the speed of the slowest party in the chain. I may have wanted to complete faster but I had no mechanism to force them (other than threatening to pull out, which I was unlikely to actually do at that stage and would certainly be very silly for the sake of a week).Does the vendor have a mortgage offer expiring or something? If so, it would probably be easiest to go with their timetable. Otherwise they might just have to suck it up0
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I should add we're buying from a small developer.genericn17 said:When I was buying, I found the completion date moved at the speed of the slowest party in the chain. I may have wanted to complete faster but I had no mechanism to force them (other than threatening to pull out, which I was unlikely to actually do at that stage and would certainly be very silly for the sake of a week).Does the vendor have a mortgage offer expiring or something? If so, it would probably be easiest to go with their timetable. Otherwise they might just have to suck it up0 -
Have you already exchanged?No free lunch, and no free laptop
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No. We've still got questions outstanding with the solicitor.0
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If you delay completion by a week it will not delay mortgage payments by a month. It may delay the actual date by a month but the amount would be higher to compensate. Interest is calculated daily and the first month payment is adjusted to get you in line with payment dates.
However, if you want to wait a week then wait a week. The developer will not find an alternative buyer in that time.3 -
Liaise with your solicitor about the best way of slowing things down…they may well have a “path of least resistance” route to achieving this.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2 -
This is why. developers tend to require you to complete an soon as possible. Can't you agree exchange for end of Jan with completion in Feb?PecrySugden said:
I should add we're buying from a small developer.genericn17 said:When I was buying, I found the completion date moved at the speed of the slowest party in the chain. I may have wanted to complete faster but I had no mechanism to force them (other than threatening to pull out, which I was unlikely to actually do at that stage and would certainly be very silly for the sake of a week).Does the vendor have a mortgage offer expiring or something? If so, it would probably be easiest to go with their timetable. Otherwise they might just have to suck it up1 -
Op, you’ve not exchanged so there’s no reason why you have to complete at the end of this month. Tell your solicitor that you don’t want to complete until the first week in Feb. They work for you.
As for the vendor, are they really going to pull out of a sale for a weeks delay? Given the current housing market, I’d say no.2006 LBM £28,000+ in debt.
2021 mortgage and debt free, working part time and living the dream1
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