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Pressure from seller for completion date

(10 Posts)
ForgiveMeFatherForIHaveGinned Sun 14-May-17 11:19:44

I'm a first time buyer currently living in rented. The whole process of our house purchase has been really slow - offer accepted in mid-March and seller's solicitor only sent the contracts to our solicitor last week.

However the seller is now pushing for a completion date within the next 2 weeks and isn't happy that we have said that we can't do this due to the notice period on our tenancy. We had discussed our position with the estate agent so it shouldn't come as any surprise to the seller. As a complete novice in all of this, are we in the right to be doing this? We have also been advised by our mortgage broker not to put our notice in to end our tenancy until we have seen the contracts. But this would delay things even further!

Any advice / experience of this kind of situation would be gratefully appreciated!

GardenGeek Sun 14-May-17 11:27:48

If you can afford it, it would be helpful to me to have two weeks to move things from your flat to your purchase. Means you could still live at home for a bit while you clean and paint it, and then move stuff over and then you have time and space to clean the flat properly to give back to letting agents.

If you cant afford it, or want to delay for any reason, then you have the perfect excuse. Just say you have been advised you should not put notice in until contracts have exchanged. So will need contracts exchanged with a month left until completion, and that they should have been aware of this.

wowfudge Sun 14-May-17 11:35:36

The solicitors have a better idea of when completion will be possible. Any dates proposed by buyer or seller are just proposals. A couple of weeks between exchange and completion should be fine and give everyone time to organise removals, etc. It is prudent only to give notice once you have exchanged contracts. One thing you may not know is that you won't normally make a mortgage payment on the day you complete: it will be a month in arrears. That may make it more manageable for you to have an overlap.

wowfudge Sun 14-May-17 11:37:09

Btw - the process isn't really slow; it sounds about normal.

ForgiveMeFatherForIHaveGinned Sun 14-May-17 11:53:39

Thanks both - this has helped reassure me that I'm not doing something completely wrong. Will get back on to the solicitors tomorrow!

GardenGeek Sun 14-May-17 12:22:05

Goodluck grin

Spickle Sun 14-May-17 12:29:08

What wowfudge said is correct!

I'm a conveyancing assistant and if your solicitors only got the contracts last week, then you most certainly will not be completing in the next two weeks. Also, your solicitor cannot even start any work until the contract arrives, so in conveyancing speak you're only in week 1! If anyone has been slow, it has been your sellers not sending back all the forms required to form part of the contract pack.

Absolutely do not give notice on your rental. The solicitor will advise you to give notice once you exchange. I am sure your sellers won't be happy with this, but you risk being homeless without any guarantee of completion.

If you need any guidance along the way, please speak to your solicitor not the EA. The EA, while trying to be helpful, will not see any of the legal documentation and therefore cannot know or predict exchange and completion dates.

LIZS Sun 14-May-17 12:35:50

Has your solicitor prepared the contracts for signature? You may need to be flexible on dates and should expect an overlap. I wouldn't assume the estate agent has passed on your need to give notice etc.

ForgiveMeFatherForIHaveGinned Sun 14-May-17 13:08:48

Really useful info thanks spickle

I'm not sure where the contracts are at now, will ask this question.

A short overlap would be useful to help with logistics of moving / decorating etc, but unfortunately we can't afford too much of one.

specialsubject Sun 14-May-17 14:16:34

Don't put your notice in until contracts are exchanged. Not seen, not signed, exchanged.

Completion should be at least a week later. You need time to arrange redirect, broadband, removals etc.

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