Due to exchange next week: what happens if we go into lockdown before completion?

[maxiflump1]

As the title says we are hoping to exchange contracts next week with a view to completing 10-14 days after that. Small chain: we have first time buyers for ours and we are buying an empty property.

Starting to feel a bit anxious about how the Coronavirus could effect this process. What if DH or I develop a fever between exchange and completion? What if the country goes into lockdown after exchange and we can't get removal company? I've tried to ring our solicitors today but constantly on hold so I'm guessing lots of people have the same concerns!

Does anyone working in conveyancing or anyone in a similar predicament have any ideas what might happen??

No answers but I understand your worry OP.

We finally found a house that works for us after 10months of looking, and had our offer accepted on Monday. We are progressing things with a view to moving in around May/maybe June time. The fact that the government is now saying the peak of covid-19 will hit right around then is freaking me out. (Not to mention the instability in the markets which has wiped out almost half our savings and could easily impact our vendors from being able to progress.)

I’m feeling the fear for sure

I'd love to know the answer to this. We have exchanged and completion is set for the 23rd.

We're due to exchange soon with a completion date of the 9th of April. I don't even know whether to start packing. It's a very bizarre situation. The solicitors are making up clauses for the contracts to try and protect everyone in the chain.

We finally exchanged yesterday after 8 months since we put the offer in. Complete next Friday. Moving man booked for the following Wednesday. Fuck knows what happens next.

Hope it goes smoothly @lovelyupnorth

Lots of us in the same boat by the sounds of it. Strange times indeed. From what I understand for those of us who haven't yet exchanged will possibly have a Coronavirus clause written into our contract. It seems that this means that it may be possible to delay completion if we are ill or in lockdown.

Good luck to you all.

So I guess we all picked a great time to try to move.

I don’t think we will get removal people to move our stuff, we’ve not exchanged yet but we’re trying to complete on 16th April, I’m pretty sure we will be in lockdown by then.
We’re moving to Canada, (we’ve rented a flat) and I’m was back here sorting out the house sale.
Canada has closed the boarders to non citizens, I don’t know when I’ll get back in.
It’s a mess, we’re screwed financially as now paying for 2 places.

One solicitors firm told us today that they're only doing simultaneous exchange and completions.

My firm isn't currently but it makes sense.

If you've already exchanged then if you can't complete you'll be in default but depending on the chain/situation, the other party may not take the point in the circumstances. There could be various things - seller not able to vacate, buyer not able to move in etc.

If you haven't yet exchanged then as a PP has said, people are developing drafting to cover this. It works much better in a no chain situation but could be workable if the option is for the whole chain to collapse and not exchange.

We exchanged yesterday and complete next Friday. I’m just crossing my fingers and hoping for the best!

Hi all,

We are due to exchange 27th and we are beginning to panic!

If anyone does find out what happens if we go into lock down, please do let me know 😊

Thank you

No help to offer (sorry!) but I’m panicking too 🥴

Has your solicitor advised anything?

Not sure what it means for us with the new statement from the PM

I am in the conveyancing stage re a house that I really want(ed). Favourite area. Would definitely need some work over next 12 months ( flat roof replacing: was plannin* to get done immediately). Had negotiated vendor down but still paying over ( manageably so) original budget.
Now wondering in light of situation we are in a) whether even if permitted I’d get anyone to move me and b) how long before I could contract tradespeople. Also worried re risk of being charge a huge premium by same which would take me well over budget I wanted completion ASAP as am in rented. Now wondering whether to hold off. I’m a 100% cash buyer and whilst have had money in bank earning a miserly rate ( soon to get more miserly) am glad I liquidated some time ago ( forced liquidation : divorce divvy up scenario) . Am receiving lots of advice re waiting for prices to come down. HELPPPPP

Why on earth is anyone even considering on moving at this time. The stay the fuck at home message means just that. Moving to a different area is not what anyone should be doing. I thought the message is clear but perhaps it wasn’t

I'm due to move on Saturday. All booked, mostly packed with some stuff already in storage. Purchase has gone through, slight overlap as moving from a rental property that we've been served notice on as it's being sold.

So, yes I'm willing to stay at home but from Saturday, where I am right now will no longer be my home so what am I supposed to do?

The message was entirely clear coffeeandgin24 - hence why people are asking questions and seeking advice, and hence my framing of the question referencing “ permissions”. People currently about to exchange will have started the process a good while ago. I’m also not moving area: the house I’m negotiating on is in the next street to my rented premise.
Any constructive comments welcome . Thanks

If I’ve understood correctly, you are the owner of the new property, but can’t get moved? Meantime the property you’re living in will become unavailable? If this is right maybe the landlord where you are renting will be helpful . If we are all staying in and we all wish/ need to , then no one will be replacing you and his/her sale of your rental may be delayed? I’d speak to a solicitor. Mine says that numerous like scenarios are presenting themselves and hopefully there will be ways through it that respect the stay at home imperative yet allow some managed flexibility.

In other countries under lockdown you are allowed to move (as once the process has started there is no alternative for many). Obviously you have to be careful about how you do it.

What do you suggest coffeeandgin if I’ve exchanged already so legally obliged to vacate my house on Friday?

It seems madness that anyone would look at what is happening at the moment and would go through with a sale. The only thing on my mind is the safety of my family.

But if I don’t go through with it I lose £58K?

The Guardian have had a few requests to investigate this issue so keep an eye out there