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Exchange end of jan complete beginning of march?

3 replies

BarracudaSharkNose · 12/01/2020 19:47

We were due to exchange a month before Christmas when there was an unexpected problem on vendors side which meant had to wait till this week at the earliest.

In the meantime we’ve had a family bereavement that’s knocked us all for 6. It was expected but not so quickly.

We still want to move but we’d like know to wait beginning of March. House we are moving to is empty and our buyer is living with his mum and dad.

Are there any drawbacks to such a gap between completion and exchange?

OP posts:
Evidencebased · 12/01/2020 20:05

Sorry for your losss.
No obvious drawbacks.
Due to an infuriating buyer further down the chain, we exchanged August, and completed mid October. No legal problems. The longer the gap, the more chance there is of an unforeseen change of circumstances; but it sounds like that's already happened for you.

Advice201900 · 12/01/2020 20:09

The only thing I would say is the house you are purchasing being empty and ensuring the current owners have the correct insurance. Nobody will be there to spot a leak etc so is the water turned on or off whilst it’s empty. We moved into a house that had been empty and the drains were blocked with leaves because there wasn’t regular water being flushed through them so the leaves stacked up, was an issue at first. Probably not bad if it’s only a short while but it might be worth checking with the agent how often the house is inspected whilst empty just to put your mind at ease.

jellytot24 · 12/01/2020 20:17

We're in a similar position to you re timeframes. We were meant to complete the week before Christmas, but didnt actually even exchange until the day after the original planned end date. Due to unavoidable work plans, we won't be completing until the end of Jan now. Our vendors knew this would have to be the case if Dec couldn't work for them, it's just annoying that it's still being dragged out.
So no, there aren't any reasons why you cant have a delayed completion. Just make sure you have the correct insurance in place etc for your new property once you've exchanged.

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