Exchange and completion

TheQuaker

Anyone had the scenario where the buyer after exchange, wants to get builders in before completion. They don't yet own the house, why would we agree to that? They could flatten it. Seems like they are trying to avoid mortgage payments for a few weeks.

user1977

Yes, we've had previous threads here with people discussing similar requests. As you seem to have figured out, best to avoid.

HouseMartin567

Do you mean builders doing work before completion, or just to give a quote?

TheQuaker

Doing actual work ! I'm frankly baffled.

eddddy

As you say, it's risky and your solicitor would probably strongly advise you not to.

Having said that, I came across 2 different sellers who both let their buyers do building work between exchange and completion. 

But these were both in small village communities where "everyone knew everyone", so the sellers vaguely knew the buyers or their extended families, and therefore decided to trust them.

TheQuaker

Not happening. Thanks for confirming this is not normal practice. 

HouseMartin567

Agree, no way I would allow any work to be done before completion!

HHarry

We were the other side with my In-laws.  We asked if we could have access between exchange and completion to fit a new bathroom.  With a disabled Father-in-Law it would make everything that much easier on moving.

 We had the oppurtunity to offer a 50% deposit on exchange which was a ceptable to the seller and their solicitors (although they didn’t ask for it in the end) and everything worked out Ok.

 It’s not usual, but there are genuine reasons for people to ask, and it can go smoothly.

p00hsticks

We had it happen to us when selling my grandfathers property - the new buyers had asked the agents if they could have the keys to supposedly do a further 'measuring up' and unbeknown to us or the agents they started taking one of the ceilings down. My mother took my grandfather for a final look at the property before completion (he'd actually built it himself in the 1930's) and they were devastated when they saw what they'd done. 

TheQuaker

HHarry said:

We were the other side with my In-laws.  We asked if we could have access between exchange and completion to fit a new bathroom.  With a disabled Father-in-Law it would make everything that much easier on moving.

 We had the oppurtunity to offer a 50% deposit on exchange which was a ceptable to the seller and their solicitors (although they didn’t ask for it in the end) and everything worked out Ok.

 It’s not usual, but there are genuine reasons for people to ask, and it can go smoothly.

Thanks, good to hear the other side. A lot of risk for the buyer though. Not a risk I can afford to take. I like to keep things simple! I prefer certainty as far as possible. No surprises.

TheQuaker

p00hsticks said:

We had it happen to us when selling my grandfathers property - the new buyers had asked the agents if they could have the keys to supposedly do a further 'measuring up' and unbeknown to us or the agents they started taking one of the ceilings down. My mother took my grandfather for a final look at the property before completion (he'd actually built it himself in the 1930's) and they were devastated when they saw what they'd done. 

How awful, you'd expect the agent to be there at all times. Must have been sickening seeing your work demolished so easily.