New build short notice to completion

user1977

Ybe said:

user1977 said:

Ybe said:

user1977 said:

Are they actually wanting you to contractually commit to completing on 1 day's notice? You could just leave the contract as it is, and they give you an incentive if you complete faster than the 10 days (though might be complicated if your solicitor thinks the mortgage lender needs to agree the additional discount).

No the contract says 10 working days. They want me to agree to breach that and complete in 1 working day. 

It's not a "breach" if both parties are happy to do it!

Well yes but what benefit is there to me agreeing it. 

Whatever incentive they're offering you.

Plus you get ownership of the house faster (if that's of any advantage to you).

It's pretty commonplace for such completion dates to be brought forward if everyone is ready.

silvercar

Difficult to say whether the solicitor is trying to avoid having to get over exerted over the Xmas period chasing funds on a completion date when the banks won’t be fully operational.

Ybe

user1977 said:

Ybe said:

user1977 said:

Ybe said:

user1977 said:

Are they actually wanting you to contractually commit to completing on 1 day's notice? You could just leave the contract as it is, and they give you an incentive if you complete faster than the 10 days (though might be complicated if your solicitor thinks the mortgage lender needs to agree the additional discount).

No the contract says 10 working days. They want me to agree to breach that and complete in 1 working day. 

It's not a "breach" if both parties are happy to do it!

Well yes but what benefit is there to me agreeing it. 

Whatever incentive they're offering you.

Plus you get ownership of the house faster (if that's of any advantage to you).

It's pretty commonplace for such completion dates to be brought forward if everyone is ready.

I’ll do it for a cut of their Christmas bonus 

gwynlas

Theere are only three working days pior to Christmas and I doubt that anyone is working to full capacity so it is very unlikely that your solicitor would be able to call down your mortgage with such short notice.
Without this you cannot complete.
I would also never again complete on a house without takng the time to do a thorough snagging list  in daylight taking notes in each room.
Your builders sales department probably want to complete purchase before 31st Dec but this would then give you both this weeks and nexts working day to arrange things if you forego the 10 days in contract

Ybe

gwynlas said:

Theere are only three working days pior to Christmas and I doubt that anyone is working to full capacity so it is very unlikely that your solicitor would be able to call down your mortgage with such short notice.
Without this you cannot complete.
I would also never again complete on a house without takng the time to do a thorough snagging list  in daylight taking notes in each room.
Your builders sales department probably want to complete purchase before 31st Dec but this would then give you both this weeks and nexts working day to arrange things if you forego the 10 days in contract

My solicitor is closed between Christmas and new year. 

whizzywoo

Tell them to take a running jump and that you are sticking to the terms of the contract.
You need to do a thorough check and snagging list.  Try to get them to deal with as many as possible before completion.
Once they've got your money it will be you chasing them to fix the problems, not them ringing you to complete.

We are 6 months since completion on a new build.  Most of our snags are fixed but one or two awkward ones are still outstanding.  
It's only because we have emailed and rung them every single week that we are at this stage.  Without us chasing them nothing would have been fixed.

twopenny

Are they prepared to get the snagging list done before completing?
It's going to be tough to do with the holidays.

But that could be what is in it for you.

I'd personally wouldn't risk that though. They could bodge it to get it done and get your money and then it will be tougher to get them to redo anything.

Ybe

I think it’s particularly because this development was priced far too high to start with so couldn’t get sales for the first 10 months on the market! They initially priced starting from 420k and now they’re down to 325k!