Compensation for costs due to buyer delaying exchange

bobster2

Buyer only enters into a contract with the seller at the point of exchange. If completion is delayed after exchange - yes seller is entitled to compensation.Prior to exchange - seller is entitled to precisely nothing. 

Asking_for_a_friend said:

Is the only option for the seller to renegotiate the contract to be compensated for the above costs?

There is no contract to renegotiate. They can try to renegotiate the agreed price - but what if the buyer walks away? Even more delay while seller finds a new buyer.

Schwarzwald

Asking_for_a_friend said:

Is the only option for the seller to renegotiate the contract to be compensated for the above costs?

Tell your Friend to either:

1- increase the price by £££ to reflect your perceived loss 

2- put it back on the market and wait yet another xxx months to complete

3- accept that this is part of the process and move on ......