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Property/DIY

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Appropriate compensation (for delaying completion)

31 replies

Rainbowhairdontcare · 07/10/2019 18:33

We've had a few setbacks in terms of being able to start the process big conveyancing (and now the mortgage). It looks like it will be delayed at the very, very least by a month but more likely two. We know the vendors are paying two mortgages as they have two properties (one had tenants but they've moved to that one). So we're thinking of two mortgage payments?

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Rainbowhairdontcare · 08/10/2019 10:54

I've only paid £350 but a least they're doing something this week. It's now the hold up of the mortgage.

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AnchorDownDeepBreath · 08/10/2019 12:36

We're buying at the minute; we were rushed through selling our flat and getting solicitors and a full mortgage offer in about a week by the estate agent; and now our sellers don't seem to be in any rush. Our October ideal completion is now looking like Dec/Jan at the earliest.

We're not especially after compensation right now; it wouldn't have occurred to me; but we are worried about whether our sellers have cold feet and are going to pull out, and DP is now less keen to proceed. I'd definitely make sure they're fully in the loop about when you'll probably be able to move and that you do still want to sell.

I'd get a new broker & solicitor; too. They sound horrendous.

Rainbowhairdontcare · 08/10/2019 12:44

I'm not very happy with my broker... Yes I have the money but trying to explain where it came from (a trust that in the end is up to my "DMs good judgement"). So I originally said that it was that, but it might be simpler to say it's a gift.

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TheBrockmans · 08/10/2019 13:04

The solicitors will need written proof of the origin of the money, so I would just try to get something in writing about the trust and from your mother as a trustee.

Spickle · 08/10/2019 13:04

Your offer was accepted 5 weeks ago. Has your solicitor received the draft contract pack from the vendors solicitor yet? If not, then your solicitor won’t start any work - so the f’all that they’ve done so far is caused by the delay in getting the pack from the vendors solicitor.

Rainbowhairdontcare · 08/10/2019 13:09

They have... And only today (after I called) they said they'd start with the searches.

Mortgage wise, as it's all in Spanish (and would have to be translated to English) it was just easier to declare it as a gift. Especially considering my DM is bringing some of the money in cash.

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