Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Special conditions on completion delay - 30 June

16 replies

RockytheBasket · 10/05/2021 15:36

Hi everyone,
Do you have special conditions agreed for completion, in case of the seller delays completion after 30 June, which will impact the buyers stamp duty?

OP posts:
RockytheBasket · 10/05/2021 15:52

Is there anyone?

OP posts:
korawick12345 · 10/05/2021 15:56

What sort of thing are you thinking of? Surely the buyer just needs to make sure everything is in line and ready to go.

RockytheBasket · 10/05/2021 16:03

What happens if seller is delaying it? Or seller changes mind, wanting to delay completion for 1-2 month? Then the cost of buying will be very different for the buyer?

OP posts:
korawick12345 · 10/05/2021 16:06

Completion date is agreed at exchange - why do you think they would do this? Are you a FTB?

RockytheBasket · 10/05/2021 16:12

The Seller is extremely emotional... pulled out twice already, I feel anything could happen until completion

OP posts:
korawick12345 · 10/05/2021 16:14

in which case I would set the shortest possible completion date when you exchange - 5-7 working days should be adequate. what stage of the purchase are you at?

Ipanemama · 10/05/2021 16:16

Does the seller have a property to move into?

RockytheBasket · 10/05/2021 16:23

Yes, Seller has a place to move to.

I asked for a week between exchange and completion, my solicitor says the bank will need two weeks to release the money, however the bank says money will be release within 24hrs from solicitor's request...

How long does a solicitor need between exchange and completion?

OP posts:
korawick12345 · 10/05/2021 16:26

Something like 5-7 working days so two working weeks is very normal. Solicitors like to do one thing each day!

user1471530109 · 10/05/2021 16:42

They can complete on exchange day if needed. I've done it twice before (but preferred the time there was two weeks between!).

maybeshesawomble · 10/05/2021 16:44

Assuming the seller is buying their next property won’t they also want to meet the 30 June?

RockytheBasket · 10/05/2021 16:53

They don't have the pressure of 30 June.
That's why I would like to have something in the conditions to protect me.

OP posts:
Iamsodonewith2020 · 10/05/2021 17:00

We exchanged Monday afternoon and completed Tuesday first thing. Money went to lawyer on the Friday before so it was all ready to go

Myshinynewname · 10/05/2021 17:12

We exchanged on the Wednesday afternoon and completed Friday morning.

starfish4 · 10/05/2021 21:41

My first two purchases were exchanged and completed within an hour. Nothing is set in stone until you've exchanged, and you can't make someone complete before a certain date. The only thing you can do is keep the pressure on for completion as soon as possible, saying you want completion by mid June (which gives you a couple of weeks to play with).

maybeshesawomble · 11/05/2021 20:15

We are in the sellers’ position - buyer putting pressure on to move by 30 June, we are moving in with family as our new house isn’t ready yet so we have no incentive to move. Our buyer stipulated 30 June deadline in the memorandum of sale so of course we will make every effort to honour that but our buyer is the one causing delays Confused. e.g. We had paperwork ready and with our solicitor the day after we accepted the offer, but the buyer took ten days to get the survey booked, quibbled over a cheap job that came up on the survey which we would happily pay for but may take time to sort out delaying things further, didn’t immediately deposit funds with their solicitor for searches etc. There’s only so much the seller can do sadly.

New posts on this thread. Refresh page
Please create an account

To comment on this thread you need to create a Mumsnet account.

This thread is closed and is no longer accepting replies. Click here to start a new thread.