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  • FIRST POST
    • ceh209
    • By ceh209 6th Mar 18, 12:42 PM
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    ceh209
    Why does this have to be so stressful?
    • #1
    • 6th Mar 18, 12:42 PM
    Why does this have to be so stressful? 6th Mar 18 at 12:42 PM
    I need your advice please!

    Situation:
    - Our buyer is in rented, mortgage offer expires on 13th March. It's already been extended so can't be again.
    - Our vendor will be moving in to rented. Refuses to move before 16th March as they have no time to sort removals (despite knowing for a few weeks we were ready to go imminently)

    Options that have been suggested or come to mind:
    - Do not complete on our sale by 13th. Buyer has to get new mortgage offer (at higher rate, which they don't want to do) and we end up annoying them and not moving for probably at least a month
    - Informal arrangement where we do complete on our sale on the 13th but stay in the house (the buyer suggested this, I know if solicitors got any wind of it they wouldn't allow it)
    - Buyers draws down mortgage funds on 13th and completes on 16th (don't know if this is possible?)
    - We complete on sale on 13th and purchase on 16th, with our vendor paying for cattery and extra removal/storage costs (and possibly hotel, although we probably could find somewhere to stay) for 3 days. I assume vendor will refuse so we end up paying, and I've never used a cattery before

    I don't know what to do any more!
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
Page 2
    • Smodlet
    • By Smodlet 6th Mar 18, 8:42 PM
    • 3,184 Posts
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    Smodlet
    Errr noooo. Exchange happens when it happens; completion is dependent on the date agreed upon exchange unless everything I have read on here is BS, which I do not think is the case, unless I am really missing something here, which is entirely possible.
    Last edited by Smodlet; 06-03-2018 at 8:45 PM.
    What is this life if, sweet wordsmith, we have no time to take the pith?
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    • DoaM
    • By DoaM 6th Mar 18, 9:53 PM
    • 4,397 Posts
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    DoaM
    completion is dependent on the date agreed upon exchange
    Originally posted by Smodlet
    Which is precisely the problem OP is reporting ... OP and their buyer wish to complete on the 13th, OP's vendor wish to complete on the 16th. Ergo they can't exchange because they can't agree a completion date for the chain. (Unless I'm also missing something obvious)?

    OP moving into parent's home temporarily would allow exchange (on both sides) ... as long as their vendor actually agree to the 16th and don't start messing about. I wouldn't confirm/pay for anything related to temporary accommodation until exchange was sorted.
    Last edited by DoaM; 06-03-2018 at 9:57 PM.
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    • ceh209
    • By ceh209 7th Mar 18, 10:33 AM
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    ceh209
    Update... we have decided to go ahead with separate completion dates. We are going to sign all paperwork with the solicitors today and exchange should happen tomorrow. I will NOT be paying anything out until exchange has happened!
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
    • ceh209
    • By ceh209 8th Mar 18, 2:09 PM
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    ceh209
    So... we have exchanged.

    But the 'not paying anything out until exchange' has shot me in the foot, as the removal company took a booking 20 minutes before I contacted them, meaning they can't do our second move on the 16th. So we are now renting a storage unit instead of storing things with them, and they are moving us on the Saturday at no additional cost (kind of them) because they have no one who can drive a forklift on the Saturday at their yard (unless we want to pay for it)

    Plus the fridge/freezer we were going to buy (current house has a built in one so need one pretty urgently) has gone up 300. So we either get a different one, or this move could end up costing us nearly 1k more than planned!

    We will get there in the end!
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
    • Red-Squirrel
    • By Red-Squirrel 8th Mar 18, 2:50 PM
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    Red-Squirrel
    At least you've exchanged, so you will definitely be moving into the house you want, and it'll all be worth it in the end!

    As for the costs, have you called round other removal companies to see if they have the availability? With the fridge, is it worth an extra 300 or would it not be an idea to start looking at other options there too? You might want to see if there's a clearance store near you, Currys have a fair few dotted around and they have appliances with substantial discounts due to cosmetic damage, usually dents, or ones that are end of line.
    • pinkteapot
    • By pinkteapot 8th Mar 18, 3:19 PM
    • 6,187 Posts
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    pinkteapot
    Errr noooo. Exchange happens when it happens; completion is dependent on the date agreed upon exchange unless everything I have read on here is BS, which I do not think is the case, unless I am really missing something here, which is entirely possible.
    Originally posted by Smodlet
    No, you agree a completion date and then exchange. Once the completion date is agreed it's added to the contracts and then they're exchanged. Completion date agreement is often the last thing to get done pre-exchange - people tend to sign the contracts and send back to their solicitors earlier, and the solicitor just writes a date in at the last minute. But at point of exchange the date does need to be on the contract.

    What you might be thinking of is that until exchange has happened, people can pull out for no reason and you've got no comeback. As soon as contracts are exchanged, people are legally committed to the deal. So you might hear on here that the completion date isn't final until exchange, because you can have talked about a completion date but no-one can be held to it until contracts are exchanged.

    Unless you're buying a new-build - I haven't done it but I think you exchange on those with an open completion date as build estimates can go awry.
    • ceh209
    • By ceh209 8th Mar 18, 4:12 PM
    • 760 Posts
    • 497 Thanks
    ceh209
    At least you've exchanged, so you will definitely be moving into the house you want, and it'll all be worth it in the end!

    As for the costs, have you called round other removal companies to see if they have the availability? With the fridge, is it worth an extra 300 or would it not be an idea to start looking at other options there too? You might want to see if there's a clearance store near you, Currys have a fair few dotted around and they have appliances with substantial discounts due to cosmetic damage, usually dents, or ones that are end of line.
    Originally posted by Red-Squirrel
    OH is being sent to Currys tonight to look at other alternatives. I've just looked at Currys clearance website and they have a whole 5 fridge freezers! Looks like all the physical clearance stores are near London, which I'm not
    Last edited by ceh209; 08-03-2018 at 4:15 PM.
    Excuse any mis-spelt replies, there's probably a cat sat on the keyboard
    • neneromanova
    • By neneromanova 8th Mar 18, 4:50 PM
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    neneromanova
    What freezer did you want? Maybe we can all look for a good price or offer different models for you?
    DD1 Born 31st March 2008
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    DS1 Born 28th October 2013
    Got Married 15th September 2012 Now Mrs Clark


    • Red-Squirrel
    • By Red-Squirrel 8th Mar 18, 9:40 PM
    • 2,784 Posts
    • 7,423 Thanks
    Red-Squirrel
    OH is being sent to Currys tonight to look at other alternatives. I've just looked at Currys clearance website and they have a whole 5 fridge freezers! Looks like all the physical clearance stores are near London, which I'm not
    Originally posted by ceh209
    There's a huge one in Manchester if you're anywhere near there? I nearly bought one from there but went for a new one in the sale instead.
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