Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Can I put a time limit on my purchasers?

3 replies

beachcomber243 · 25/01/2018 20:44

I accepted an offer on a property [empty, no chain] on Saturday, first time buyers with nothing to sell of course and mortgage arranged in principle. But no memorandums sent out yet as all details are not known yet. When I buy I usually have the ball rolling by now. Maybe that's just me.

I would like the sale to be within a reasonable time as I accepted a lower offer than I hoped for. Can I specify a time frame? Would my EA or solicitor or both tell the purchasers this and is it in order?...

I would like it to be done and dusted within 8-9 weeks if possible.

Also when should I be sure they are committed to the purchase? When the survey is paid for? When they have paid for searches?.... as I have been messed about before and don't want to tell my solicitor to do work then me getting charged if it falls through. He has the paperwork ready for the new purchasers from the last aborted sale...so can go whenever I tell him to.
Thank you.

OP posts:
minipie · 25/01/2018 22:31

Usual form of pressure IME is to say you won't take it off the market until they have shown financial commitment (eg got survey done, or at least got survey booked in)

You can set a timescale and say you'll put it back on the market if not agreed within 8-9 weeks, but they will know that if things get to that stage you will be reluctant to start from scratch.

Have you asked your EA for advice? (

Spickle · 26/01/2018 09:06

If the memorandum of sale hasn't been sent out, it sounds as though your first time buyers have not yet instructed a solicitor to act for them.
They need to do this as soon as possible, otherwise your solicitor can't start any work.

johnd2 · 28/01/2018 11:00

You can put a time limit on at exchange of contracts, basically you specify the date of completion and they are liable for all expenses caused by not doing so.
However before that nothing is committed, so you can decide they have to exchange by a certain date, and if they don't you can tell them you won't sell to them and find a different buyer. But you won't know up front, and neither will they, whether any given date will be achievable for exchange

New posts on this thread. Refresh page