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Original poster

Vendors asking to change completion date

152 replies

crimsonlake · 13/04/2018 17:46

Half expecting this.
Made an offer on a house, raised it a little on the agreement that the vendor would move out on an agreed completion date.The vendor said she would move in until the purchase of her property completed with family so no problem.
Three weeks before we complete and prior to exchange just had a message saying they cannot complete until a couple of weeks due to their vendor.
What the heck! Really cross as they are trying to go back on their agreement as my purchase was never supposed to be dependent on their own, as in no chain as such. This is the reason I increased my offer? I have just reminded their estate agent of this.
I am in temporary accommodation as I completed on my own sale a few months ago and my belongings are in storage. It needs to be on the date we agreed as I have to vacate where I am staying and have nowhere to go unless I go in to a hotel or sofa surf. Hoping they come back and say that the will now accept the first offer I made since they cannot honour our agreement before I need to state the obvious.

OP posts:
Original poster
crimsonlake · 19/04/2018 18:12

My position is that I completed on my own property Jan 5th and have been staying rent free and bill free at a friend of a friends house. How kind some people can be! However she wanted her house back by end of April but has given me a couple more weeks.
I work as a supply teacher so earn irregularly and some weeks / months very little. So far have been unsuccessful gaining full time employment, woman of a certain age does not help.
I have equity from the sale set aside for the purchase. However if I have to rent for 6 months, pay for removal again, solicitors fees up to date, survey, utility bills and living costs etc I will be spending I estimate 12 k possibly.
If I had a regular income it would not be such an issue as I could keep my equity set aside.
Losing this amount and with property prices continually rising I may not be in the position to afford the small semi with a little garden I am hoping for ( I have approx 170 k set aside for this )
I am worried to hear that even upon exchange they can still mess me around with set completion dates. I thought that they had to honour that unless I agreed to move ?
I gave a deadline for exchange to my solicitor for Monday and he said he did not think that would be possible for them in such a short time frame. I then said that they must exchange by Fri 27th. We have had no word from them today.
If they can still keep me hanging on for completion after setting an agreed date following exchange it would seem I have no option but to pull out as I may end up homeless either way.

OP posts:
AlbertaSimmons · 19/04/2018 18:17

They are supposed to honour the completion dates as per the contract, but in actual fact, there's not a lot you can do about it if they decide they'll move on a date that suits them - I don't mean once the monies have gone through, I mean in our case we set a Friday date in the contract and were then told it would be the following Monday. It is to all intents and purposes unenforceable.

wowfudge · 19/04/2018 18:25

It's highly, highly unlikely that a completion date wouldn't be stuck to it: it's contractual and agreed at exchange. Not saying it doesn't happen that things don't going to plan but your vendors would be liable for your costs if completion didn't take place as per the contract.

RandomMess · 19/04/2018 18:27

On exchange day offer them the reduced price and pull out if they don't accept it...

Could you try and find an air BnB and a reasonable rate in the meantime?

Depends in part what the market is like where you want to buy, Is the property worth the price?

Original poster
crimsonlake · 19/04/2018 18:31

So is this the way forward do you think to push for completion so they are committed to complete on agreed date?
I was going to give an ultimatum with my request for exchange by the 27th, however I hung fire given my financial circumstances.
They seem to be slow responding to anything this week, took 3 days to refuse my proposed what was infact only 1k reduction to cover my costs.
What fools would mess about with a chain free cash buyer I am amazed.

OP posts:
Somerville · 19/04/2018 18:31

Are you sure prices still rising in your area? They aren't in much of the country at present.

Original poster
crimsonlake · 19/04/2018 18:37

The surveyor seems to think so. However I would have offered a lower price had it not been for the fact I was in a hurry. The property needs a new kitchen and bathroom and I will have to live with that for the forseeable future.
I am moving to an area where property prices are lower than where t I currently am. Here I would be paying £180k for a small terrace with a backyard. Chain free properties are fairly rare and usually need work.
If I rent I will be tied for 6 months.

OP posts:
Original poster
crimsonlake · 19/04/2018 18:39

I am in the North West, Liverpool / Warrington area and property prices have continued to rise over the past 6 months. In my price range propertied are snapped up.

OP posts:
Chocolala · 19/04/2018 18:40

I’d pull out. They aren’t going anywhere, and once they’ve been able to mess out around once, they’ll keep doing it.

wowfudge · 19/04/2018 19:19

If you don't pull out they'll string you along to suit themselves which is fine if you are prepared to accept that. If not then pursue something else.

It is the case that at exchange the completion date is set. They aren't ready to exchange yet because they've created a chain. Your solicitors will ask when you want to complete once both parties are ready to exchange.

MaggieFS · 19/04/2018 19:30

They can change the date penalty free right up to the point of exchange [of contracts] which is when the completion date is set and both parties are then obligated to complete as per the date in the contract or face financial penalties.

So it's a risk they could string you along hennas it might be prudent to start seeing what else is on the market BUT make sure you don't incur more costs on this place.

Original poster
crimsonlake · 19/04/2018 19:40

Thank you all again. Yes I would pursue something else if only there was something to pursue.
Of course why had it not dawned on me! They wont exchange with me until they can exchange with their own vendor. You can tell it has been a while since I have bought a house, also I do not think I have been in a chain before.
It is looking worse by the minute and I have ended up in a chain without my knowledge.

OP posts:
Original poster
crimsonlake · 19/04/2018 19:49

MaggieFS the only way to not incur more costs would be to ask the solicitor to stop working on this. If I go down this route I may as well pull out now as if I give them a final ultimatum it would be through the solicitor.
This will the third property that has fallen through I should have added.
The first one revealed on the survey that the entire floor needed digging up as there was something in a concrete that was making the floor crumble. So I has solicitor and survey costs to cover then.
The second, following survey would also not negotiate on price when several issues showed up so I did not proceed. Now this!

OP posts:
MaggieFS · 19/04/2018 20:22

I feel for you, it's a horrible situation.

Troels · 19/04/2018 22:25

Book to look at some properties with the same Estate agent that has the house you are buying. That will get back to them quickly that you are looking at other houses and they need to get on with it or lose the sale.

MessySurfaces · 20/04/2018 10:01

You could push for a compromise of exchanging nowish with a long completion date, you then do a move into storage and stay in an air b&b for a month or however long you've agreed. Cheaper than 12k, although still an almighty nuisance.
Definitely ring the EA and book some viewings for the weekend to focus their mind though!

mommybear1 · 20/04/2018 10:47

Oh OP just read this thread what a mess I am so sorry Thanks. Fingers crossed you have got an answer now from the sellers and it's in your favour.

wowfudge · 20/04/2018 11:02

There is one other thing that is worth considering: your vendors won't want to lose their onward purchase. Exchanging asap with a completion date far enough ahead for them to get their ducks in a row could be the way to go.

Doje · 20/04/2018 11:13

Firstly, tell them no, they must stick to your dates, and that the price was agreed for to them being chain free and being able to move into temporary accommodation.

Hold strong and see what they come back with. If they come back and say no, then tell them you want £15k off the price to reflect additional living and moving costs. I would then negotiate a little off that to show willing.

If that doesn't work threaten to pull out. Remember that if you threaten to pull out you don't actually have to pull out - you can change your mind at the last moment. You'll lose face, but that's not important in the grand scheme of things.

Clutterbugsmum · 20/04/2018 11:52

Could you insist on exchange and completion on the same day, that way they can not mess you around.

AwkwardPaws27 · 20/04/2018 14:42

Clutterbugsmum - then they could definitely mess the OP around - there would be nothing to stop them pushing the date back again, and on the agreed day they could back out and OP could be left with nowhere to go at all.
If they can't complete for, say, a month, I would push to exchange ASAP so they are locked into that completion date. Then OP would at least know exactly how long she needs alternative accomodation etc for.

Original poster
crimsonlake · 20/04/2018 20:25

Sorry all been in work and just read your kind replies.
Yes I am pushing for exchange asap but that does not seem to be working.
I have already tried to reduce the price since they did not keep their word, it was only by 1k to cover hotel costs etc, they said no they would not accept that. They are mad obviously to be prepared to lose their cash buyer with nothing to sell which is more of a worry.
All my furniture has been in storage since just after Christmas, my belongings are scattered around friend's houses, I have been living out of 2 suitcases for months.
To complicate matters I have 3 elderly cats who would not tolerate being rehomed with friends even if they would agree to take them. Also have a son due home from uni for the Summer at the end of next month.

OP posts:
RandomMess · 20/04/2018 20:30

Urgh I think they are going to drag this out as they do. Or believe you will pull out! Any new build around?

I def think you need to start searching again Sad

Original poster
crimsonlake · 20/04/2018 21:06

I have never stopped looking since I offered on this property just incase, there is nothing in my price range suitable on the market.
It rankles that when I sold early Jan I agreed to move in to rental , a promise I kept as I would not dream of going back on my word. I had to pack up a 4 bed house over the Christmas period which was very difficult. Apart from the emotional aspect of uprooting my children from the home they loved and a move away from the friends they grew up with.

OP posts:
AwkwardPaws27 · 20/04/2018 21:07

OP that sounds awful. I'm so sorry you are in this situation. All I can think is to call the estate agent, following up with an email so it's in writing, and explain exactly that, that you cannot afford the current price if you are forced to rent for 6 months. The agent won't want to lose the sale so should try to push your vendor. I really hope this works out for you.