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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.Asking someone to move out within 6 months
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user1977 said:There's no legal reason why it can't be possible, it just isn't normal practice (in England and Wales anyway) either to wrap everything up that quickly, or to enter into a contract months in advance of completion.0
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So you Exchange Contracts today with a 6 month Completion date.2 months later, your survey tells you there are major issues with the property.A month later your solicitor tells you of negative search results.What do you do? Back out and get sued? Try to renegotiate a contractually agreed purchase price?Or what?1
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propertyrental said:So you Exchange Contracts today with a 6 month Completion date.2 months later, your survey tells you there are major issues with the property.A month later your solicitor tells you of negative search results.What do you do? Back out and get sued? Try to renegotiate a contractually agreed purchase price?Or what?0
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benson2221 said:That is why I would want to insist that someone would be moved out in that time. They have said they would go into rental if need be but that is just what they have said...in reality I would want something legally binding like a penalty if they don't but have no idea if that is even possible0
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benson2221 said:I'm considering making an offer on a property with the condition of moving in within six months. The estate agent has informed me that the seller verbally agreed to this arrangement. How can I ensure that this agreement becomes legally binding?
If the seller fails to complete then you'll have recourse, but it will be painful.0 -
Incidentally, when we last bought in 2021, our sellers moved into rented accommodation to facilitate our completion date. That was with the added pressure of the COVID-19 stamp duty relief, though, plus they were very nice people1
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user1977 said:propertyrental said:So you Exchange Contracts today with a 6 month Completion date.2 months later, your survey tells you there are major issues with the property.A month later your solicitor tells you of negative search results.What do you do? Back out and get sued? Try to renegotiate a contractually agreed purchase price?Or what?
EDIT: Corrected as per user1977s comment below.0 -
MacPingu1986 said:user1977 said:propertyrental said:So you Exchange Contracts today with a 6 month Completion date.2 months later, your survey tells you there are major issues with the property.A month later your solicitor tells you of negative search results.What do you do? Back out and get sued? Try to renegotiate a contractually agreed purchase price?Or what?1
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user1977 said:MacPingu1986 said:user1977 said:propertyrental said:So you Exchange Contracts today with a 6 month Completion date.2 months later, your survey tells you there are major issues with the property.A month later your solicitor tells you of negative search results.What do you do? Back out and get sued? Try to renegotiate a contractually agreed purchase price?Or what?0
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benson2221 said:I'm considering making an offer on a property with the condition of moving in within six months. The estate agent has informed me that the seller verbally agreed to this arrangement. How can I ensure that this agreement becomes legally binding?0
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