Delaying completion once you've exchanged - help!

[EssentialHummus]

Very stressed buyer here.

We exchanged on a property a week ago. Due to complete on Thursday. There's a possibility that we won't be able to - some money that forms part of our completion funds is stuck in a bank account and may not make it over in time.

Has anyone been in this situation? What happened in practice?

I understand that we will be liable for compensation/costs but first-hand experience would be greatly appreciated - I'm beyond stressed by it all.

We have completed, but the vendor didn't leave the keys

Can I just point out that you have not completed? (Hopefully you have now, but hadn't when you wrote the above)

Completion means that the vendor has full possession of the money and the buyers have full possession of the property.
Until you have doors open and can come and go as you please you do not have full possession of the property and cannot be said to have completed.

So the vendors broke contract....

You own it now so get a locksmith and change the locks even if their stuff is still there.

What did you do, OP?

We've done nothing as yet, there's nothing to report. The vendor seems to have physically left, it's just the small matter of the keys.

So have you not managed to get in?

for you!!

Oh leaks, so where did you spend the night?? Argh!!

Leaks? I meant lawks...

I haven't sold my current apartment (the new one needs loads of work yet), so DH stayed there and I'm still wandering southern Italy.

Still nothing.

Sounds like the sellers have done it on purpose to piss you off if they have a history of being difficult. I'd be getting the locksmith in pronto. What if they've left taps running or the gas on?!?

What a nightmare!

The Estate Agents should have made sure they had the keys. On completion you usually collect keys from the EA or they meet you there and give them to you.

Update - I went to have a poke around there and met the downstairs neighbour, who had the keys! Apparently vendor had given them to her, but then just didn't tell anyone. She seems lovely, anyway.

I went in and got a bit angry at the state of the flat - things like a half-eaten pizza left on the kitchen counter - but have calmed down a bit and will go to B&Q later to crack on with the many many things that need doing.

I'll be starting a few threads about how to repair/decorate, would welcome advice there!

Thanks everyone.

Wow EssentialHummus that is unbelievable!!! I'd have been too! Not on at all.

Looking forward to reading about your redecoration plans. Have a great easter sunday