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First time buyer, is this normal?

18 replies

ADsBadAccent · 31/08/2017 11:13

Buying a house with no chain and we have no chain, so should be fairly straightforward.

We recieved property info form, which said sellers wanted a month between exchange and completion. We queried this at least 3 times and said we were unhappy about it. Solicitor said they hadn't had an answer and would chase, she then emailed in 3rd week of august and said sellers wanted to complete end of august, we agreed, happy that the idea of a month between had been dropped. Neither exchange or completion has happened, had a meeting with solicitors yesterday who said sellers now want a month again and she and us need to talk to estate agents.

I have emailed agents who insist the solicitors knew in june she wanted a month (it was july but still) but don't seem to be understanding me when I point out the sellers changed their minds?!

Am I being weird or is a month a long time? What should I tell the agents?

OP posts:
PurpleDaisies · 31/08/2017 11:16

It can be. What are their reasons?

We were going to exchange early and complete six weeks later when we were moving to a different part of the country.

Once you've exchanged contracts it's very hard for anything to fall through because of the financial penalties involved.

ADsBadAccent · 31/08/2017 11:21

They need to find somewhere to rent. I am happy to compromise but obviously we need to give 4 weeks notice too, and pay for that and DC need to change schools etc

OP posts:
AnonymousTomato · 31/08/2017 16:31

Why is there a problem then if you need 4 weeks too?

EssentialHummus · 31/08/2017 16:37

Once you've exchanged contracts it's very hard for anything to fall through because of the financial penalties involved.

Yup. They may need to find somewhere else, or (as was the case with us) some of the completion (not exchange) money may be coming from somewhere else at a slightly later date, so they need to put completion off a bit.

KitKat1985 · 31/08/2017 16:47

To be honest I think 4 weeks between exchange and completion isn't that bad. It's rarely less than 2-3 weeks anyway.

onemouseplace · 31/08/2017 16:51

They've probably had a nightmare move before and want a decent amount of time between exchange/ completion knowing that the move is definitely going ahead to find somewhere to rent, sort out removals etc.

Coming from the other side, we requested a month between exchange/ completion as we were renting and needed to give 4 weeks' notice and that way we didn't end up doubling up on rent/ mortgage for a couple of weeks.

sunshinesupermum · 31/08/2017 16:58

Four weeks is the norm between exchange and completion. It's rarely less and only when all parties agree to it. Solicitors often want t to ensure that the monies are available from all parties. They are not being unreasonable.

wonkylegs · 31/08/2017 17:00

We had 6wks between exchange and completion- because we didn't want to move until the school summer holidays started, as we were moving quite a way away and DS1 would be changing schools, so it made sense to do it at the end of term.

I was nervous up to exchange but much happier after that due to the contractual penalties. Even with 6 weeks notice we were chasing the vendors and their 3! removal vans of furniture out on the day of the move as they were "not quite there"

Cacofonix · 31/08/2017 17:07

Yes we had a month between exchange and completion when we moved a few years back. I'd stop panicking about that and push to ensure exchange takes place. Then you all know what's happening.

BreakfastAtSquiffanys · 31/08/2017 17:08

A month is reasonable.
You can't make proper plans until you exchange, and booking removals, cleaners, sorting out STUFF takes time

user1469781887 · 31/08/2017 17:17

Until such time as exchange of contracts has taken place it will be very hard for them to secure a property to rent. Therefore, it is entirely normal to have 4 weeks between exchange and completion to find somewhere to rent and get all paperwork done etc.

Stickaforkinimdone · 31/08/2017 17:17

I wouldn't be concerned about a long gap between exchange an completion-first property I bought there was a 6 week gap
Second property only 48 hours and that was hideously stressful...

I would be concerned about the fact you haven't exchanged contracts yet though because that really is key to you being able to breathe a sigh of relief and start prepping for the move. I'd give them an ultimatum-it's what I had to do with my second purchase and it's amazing what the threat of pulling out will do to momentum... good luck OP

ADsBadAccent · 31/08/2017 19:43

Ok, will accept we are being unreasonable and make some adjustments. Thanks for all replies

OP posts:
RoganJosh · 31/08/2017 19:47

I've never come across more than a week, but it's also not unreasonable for them to stipulate it.

orzal · 31/08/2017 19:52

When my son bought his house there was only a day or so between exchange and completion. I thought this was quite normal.

Cacofonix · 31/08/2017 20:00

I think the usual is 2 weeks generally. Our vendors insisted on a month due to relocating the DD with SEN to a new care setting which was fair enough. I'd stress if anything was less than two weeks as it's hard enough to book removal company with two weeks notice. Don't think I'd cope with exchange and completion in the same day. Moved a fair few times though and never had that!

NickMyLipple · 31/08/2017 20:08

If they're anything like us, waiting for next pay day was super helpful too!

JoJoSM2 · 31/08/2017 21:05

We only ever had a week or even exchanged and completed on the same day. One thing I would say - do get specialist insurance. A month is a long time after exchange in which things can go wrong (e.g. boiler breaking, a leak happening etc).

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