buying a new build but unable to meet builders 28 day completion date

[sweetcheeks44]

Please can someone help me before i have a nervous breakdown! We reserved a new build and are in the process of selling our house. The problem is that the builders accepted our offer on the grounds that we exchanged and completed within 28 days. Well with one thing and another this daye passed yesterday and this didnt happen. Our solicitor received a letter saying if this date passed without completion then they would withdraw the incentives and we would have to pay full price, the difference of 10k! Weve explained to the builders whats been happening and kept them informed every step of the way. We're ready to move forward but our buyer wont be ready for another week. Im scared the builders will pull out if we refuse to pay the extra which we cant afford. Surely for the sake of a week or so they will hold on?

since asking the above question i have been told our solicitor needs to write to the builders giving them an explanation as to why we couldnt complete on the day agreed and ask for a weeks extension..... our buyers searches will be back next wednesday, ours are all back so the last day to complete is the friday....does anyone know if this gives us long enough to complete on this date as i think if we dont the builders will pull the plug on the deal.....Im so stressed out

Its not I the builders interest to pull out and leave themselves without a buyer. They are just pressuring you.

Thats what other people have said but with them now saying next friday is the final cut off point im panicking....at the end of the day well still sell and if need be move into rented and look for something else....seems stupid if the builders pull out for the sake of a week or so when they have a guaranteed buyer!

Have you exchanged with the builder? Until you have the builder, and you, can do whatever they want. If you have exchanged you may hve lost your deposit.

Assuming you haven't exchanged you're in a good position - the builder isn't likely to want to start again with a new buyer so stand your ground.

no we haven't exchanged, were going to do exchange and completion on the same day..I hope you're right.... if solicitors get their fingers out we may just be able to complete by next friday...just hope our buyers searches are back in time or im not sure the builders will let us go past friday into the next week!