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Can you exchange on the sale but not on the purchase and time completion
TBeckett100
Posts: 4,732 Forumite
we are under offer and have been since mid jan and it seems to be taking ages. we pulled out of a house mid last week and secured another at the weekend. can i request our buyer to exchange on our property so that she is committed to buying so we can relax a bit. the property we are buying will be vacant with no onward chain so i was wondering whether we can set an overall completion date of a month that will give us time to exchange as well as complete.
is this normal? i dont want our buyer pulling a fast one if we all exchanged together thinking we are desperate.
is this normal? i dont want our buyer pulling a fast one if we all exchanged together thinking we are desperate.
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Comments
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You can ask, but I would want a sweetener to commit to someone who changed their mind on their purchase, no matter how good the reason. Such a long gap between exchange and completion would be highly unusual.Been away for a while.0
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surely it isnt their (the buyers business), if we agree to let them exchange on buying ours and we agree to move out on x date (in rented if we had to), there cant be any problems for the purchasors?0
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There is nothing to stop you exchanging & completing on your sale, moving into temporary accommodation and then exchanging & completing on your purchase.0
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what is a normal timeframe between exchange and completion then? i thought a month was the norm?0
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2-3 weeks is usual, but my parents in law exchanged two months before completion on their sale. It suited everyone and gave the buyers loads of time to plan, knowing the house was theirs.0
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There is nothing to stop you exchanging & completing on your sale, moving into temporary accommodation and then exchanging & completing on your purchase.
Other than, stating the obvious, that you run the risk of losing the new house having sold your old one...Says James, in my opinion, there's nothing in this world
Beats a '52 Vincent and a red headed girl0 -
I wanted 2 weeks, got 2 days in the end.0
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oooh i better ask my lazy agent (who has never chased the chain without being prompted) to find out everyones timeframes!0
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Some people exchange & complete on the same day, some have a week between exchange & completion, others a fortnight. In my experience a week to a fortnight is the norm.0
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