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HELP - can you change completion date after exchange?

(14 Posts)
randomimposter Fri 23-Jul-10 08:38:04

Hi
Is it possible if agreeable to both parties to bring forward completion date after contracts have been exchanged?

I am selling and moving into rented and always stipulated that I needed 6 weeks after exchange to find suitable rental. Pressure further down the short chain is pushing for completion in 2 weeks, and we haven't even exchanged yet!

Someone in the middle of the chain COULD move into a temporary solution but they don't want to (which I do understand) BUT I don't want to commit to a 2 week completion and end up homeless myself!!

So my idea was
- exchange with a 6 week delay in completion
- IF I secure somewhere immediately that allows the preferred moving date for all, the completion date gets amended on the contract and all are happy...?
- IF I don't the person on the middle has to move into temporary until I do, or the six weeks are up?

Anyone know the answer to this one?? TIA.

lalalonglegs Fri 23-Jul-10 09:35:25

But you haven't exchanged so the completion date still has to be negotiated. Just set a date and stick to it.

randomimposter Fri 23-Jul-10 09:37:36

thanks - in the meantime I have got the answer - yes I can change it after exchange to mutually benefit the chain - everyone's happy!

superpenguin Tue 27-Jul-10 16:08:43

I don't think you can change the completion date after the exchange, as once you have exchanged contracts it is specified in the contract which date you exchange, UNLESS you put a clause in the contract prior to exchanging - make sure you have a good solicitor who knows what they are doing if you want to do this as it is not the norm.

Good luck!

DontMumble Tue 25-Oct-16 11:41:28

Hi
I saw your post about amending your moving completion date. Without going into the details, this is exactly what we want to know. You said on 23-07-2010 that you said you'd find out you could exchange to mutually benefit everyone. I don't know where you learnt this but if you were able to do it then it must be possible. Someone added to the thread that it has to be specified in the contract in an additional clause.
Any help will be greatly appreciated because we have 'buyers from hell' but we still don't want to lose our buyer if we upset them needlessly.
M

H1ghw4y61Revisited Tue 25-Oct-16 11:43:16

Completion date X or earlier by mutual agreement on the contract smile

JoJoSM2 Tue 25-Oct-16 14:39:34

As it affects the entire chain, I don't think it's very reasonable to make everyone wait 6 weeks... As you haven't exchanged yet, could you agree to the 2 week period and start looking immediately?

SpotTheDuck Tue 25-Oct-16 14:51:05

Jojo, the OP is from 2010, I imagine they've sorted it out by now!

DontMumble Tue 25-Oct-16 15:11:43

Thanks for your responses.
H1ghw4y, Did you do that? Just put those words into the contract? And you then see if you can do and agree on an earlier date and go for that instead?
JoJoSM2, We are the only house in the chain (we're going to rent). We are relocating about 200 miles away, so we have to quit our jobs (notice period of 6 weeks). I don't want to start negotiating with my employer for a shorter notice period before I resign and don't want to resign before exchanging. If we could exchange with a completion date assuming I fail to renegotiate (i.e. 6 weeks later) I was hoping the completion date could be amended accordingly if I can shorten my notice.

DontMumble Tue 25-Oct-16 16:12:13

Spot, the OP was from 2010, but I am a new person with a similar predicament and wanted some advice. If the OP was able to change their completion date after exchanging in 2010 then we should be able to too, unless a new law since then prevents it.
M

minipie Tue 25-Oct-16 18:01:40

Yes you can amend the completion date after exchange if both sides agree.

However bear in mind the other effects of moving completion earlier. For example you will need your mortgage funds earlier so you'd need mortgage co to agree to earlier date too. And any chain completion dates will have to change too so they'll have to agree too.

DontMumble Wed 26-Oct-16 09:23:00

Thanks Minipie, It's a one house chain, so it would only need to be agreed by us and our buyers. Good point about the Mortgage Co though. If we change the completion date it would be to to change it from 6 weeks after exchanging, to a month after, so you'd expect there would be enough time still for the Mortgage Co to sort it out, but then they're still sorting out our buyers Mortgage application 11 weeks after agreeing the sale *rolls eyes", so it doesn't bode too well.

DontMumble Tue 08-Nov-16 15:19:10

Yippee, we finally exchanged on our house and have a month or so now to look for a rental property somewhere in Lincolnshire, while we search for our new house.
Although our jubilations have diminished a bit now we've seen the admin fees some letting agencies charge. £360 is a rip-off imo! Hang your head in shame EasiLett.

DontMumble Tue 08-Nov-16 15:22:39

...and that's not counting the £35 they charge for the inventory and £54 checkout fee...the leeches.

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