Our house buyers want to move in two weeks before completion....can we allow this?

[DCsnatchsunhill]

Our house buyers want to have an earlier completion date than us. We have redemption penalties on the mortgage that finish at the end of this month, but they want to move in ten days earlier.
We have asked them to wait but they have said they'll pull out if we don't let them.
Our solicitor is not happy but has said they can move in "under licence"??
Does anyone have any experience of this?

Last time I bought a house, there was a last minute hitch, and the vendors could have let us stay in the house overnight, with us finally completing the next day. I knew one half of the couple personally as well. They wouldn't let us, as it was just too risky for them.

I totally understand that you don't want to lose the sale, but you are just giving them your house. And where are you planning on staying for the fortnight?

I would say no.

I would call their bluff. And there's no way I would let them move in before completion - what happens if something goes wrong and the sale falls through - you will be homeless.

As far as I know once you have exchanged contracts then the sale is final but completion can be anytime after that. could you offer to exchange earlier with a completion date to suit you?

actually that's not strictly true. the sale is not final until you have completed. Once you exchange contracts it is harder to pull out, but it is still possible, although you may incur a financial penalty for doing so.

(like the name, wannabe )

Just remember that possession is nine tenths of the law. I'd be very wary of this tbh.

Our house is already empty as we have moved overseas. We don't want the sale to fall through but at the same time we don't want to have to pay 2K redemption penalities that we wouldn't have to pay ten days later!
The buyers has been very poorly and has to go into hospital for an operation, hence the reason for an early move. They have already knocked us down 28K on the house (an out house isn't an expensive one!!) and so we feel really anxious about losing another 2K.
Could we do a tenancy agreement with them for ten days, do you think? We haven't yet exchanged as they are waiting to this completion date (which we had fixed for MONTHS). AAARGH. Have a headache and it doesn't help being so far away.

Wannabe - yes that what was I meant - just thinking if they had the security of exchange where both parties are a lot less likely to pull out then they may be willing to wait for a more convenient completion date.

sorry bad typing. Should read "and our house isn't an expensive one"

I'm sure that there should be something that your solicitor can draw up re: tenancy agreements, it would give you some security anyway.

do you think we're daft trying to hold out for 2000, when the property market is a bit sluggish?
It's just such a lot of money....

before completion No imo

otherwise amended contract to reflect they err residents/responsible for property

Tell them you are happy to complete earlier if they add another 2k to the sale price.

No, we've asked for money but they won't do it. Thank you for all you advice. Got to go to swimming lessons now (yawn) but will check back on this when I get in.
Any further advice gratefully appreicated.!

Haven't read entire post but NONONONONONONONNONONNO

You are giving them licence to occupy your house. NO.

Please don't let them.

Well if they won't pay the extra for an early completion they will have to wait a fortnight. There is no way they could find another property and move into it quicker than that. Good luck!

How far into the sale process are you, have you exchanged contracts yet? It sounds like their threat of pulling out is a bargaining tool to get things moving, if their solicitors have started searches/surveys etc it would be more unlikely they would pull out now.

Can you not complete earlier and have your solicitor hold the funds until the end of the month so you don't incur any penalties? I don't know if this is legal or not, but worth asking your solicitor maybe.

Your solicitor is best placed to advise you, but imo the vendor handing over the keys after completion is the final incentive for the buyer to complete on time. I wouldn't agree to them moving in before completion, either they pay your redemption fees for you or they wait the 10 days.

Thanks for all of your replies.
Mellin, We've had all the searches done and were due to exchange yesterday. This wasn't done as the buyers decided to change the conpletion date.
Feel like my head is going to explode and so we've just decided to give in and let them get on with it. Being overseas doesn't help, otherwise I'd be in the estate agents kicking some ass!
Our solicitor has told us that she will not handle the sale if we allow the buyers early access, although estate agents are telling is that it is normal and we should make our own minds up.
I was going to let them in early, but after your overwhelming No's, perhaps not.
Thankyou everyone - if you think of anything esle please let me know.

I've no experience of this and I've never heard of anyone doing it.

My gut reaction is no, no and no!

Hi, I'm a lawyer but don't specialise in conveyancing.

Just 2 points:

1. Tho' Mellin suggests completing earlier, but with the sol. holding the money so as not to incur a redemption penalty, that won't work, as the solicitor is obliged to redeem the mortgage immediately upon completion.

2. The estate agents are talking bollocks. It isn't normal to do this, they're just trying to pressure you to get the commission.

Essentially, you shouldn't complete two weeks earlier, but it's not unheard of to grant a licence to occupy to cover those 2 weeks. Problem is your mortgage lender won't be at all happy, as they wouldn't be able to get possession if it went pear shaped.

As others have said, your buyers can't find somewhere else within two weeks.

My advice would be to hold your ground and make them move into temp. accom. if necessary.

Thanks Mumblechum, what you have said makes sense and I do remember the conveyancer using the words "Licence to occupy". she is worried though that we will end up with squatters which, although rare and has never happened to her or the firm, could potentially happen.
Sittingbull, we're tempted just to say Ok, you win. Move in whenever you damn well want! this whole process feels like it's been going on for years and I'm scared of calling their bluff and them really pulling out!!
Now, then my head WOULD explode

Sittingbull, we have asked them to pay but they have refused, and have told us that they will walk away if we don't complete early (and lose our money).
If we weren't on the other side of the world (Oz) then we would call their bluff and tell them to walk, but we're too scared of losing the sale.
I think we've just agreed to swallow the costs, although I find them very selfish. Apparently, the buyer is going into hospital for an operation on the 20th June and that's why they want to complete sooner. Understandable but a complete PITA