We're hoping to exchange contracts on a sale and purchase next week, with completion 7 working days later. Our lender requires a week's notice anyway and our sellers need 7 clear working days for various unavoidable reasons.
Our solicitor has asked whether we want a Covid rider in the contract in case of a further lockdown preventing completion or holding up funds if there are problems with the banks meaning funds aren't transferred in time.
It's a short chain of only two houses - a first time buyer buying ours, and our sellers are going abroad so are not buying anything. I'm pretty relaxed about not needing this, partly given everyone involved is local and we're (currently) in a low risk area, but has anyone else come across this and have thoughts either way? My main concern is that negotiating an amendment to the contracts (which are already signed) will delay exchange and therefore completion. I'll be nearly 8 months pregnant when we complete so a delay to completion means we may have to pull out entirely.
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Exchange of contracts - Covid rider
8 replies
MoreGinPlease2020 · 27/08/2020 15:16
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