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How common is it to switch to a different new build house on same estate during buy/sell process?

9 replies

CatAndHisKit · 22/06/2022 20:59

My sellers were very keen on the fast sale of their place as they told me during the vieing that their new build is ready. They's ve lost one buyer early on in process and chose me as I can be quick to proceed.

They anted to exchange few days ago but havent produced a couple of docs (including EPC, ffs!) so the exchange is delayed as my solicitor is demanding these to be done. BUT he said one other issue is they were shifty about possible completion date and got an impression the house isn't ready|

Is it usual then to switch to a different house on same estate as it's possible they've lost the original one due to delays (originally they wanted to complete in May)? Would developers normally ait for the delayed sale (just by a month or so) or ould they be happy to offer another house? never dealt with new builds so no idea. For me it'd be a disaster if I have to ait months.

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CatAndHisKit · 22/06/2022 21:01

Sorry for typos - my letter 'w' is jammed a bit!

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chiffchaffchiff · 22/06/2022 21:12

Developers normally set a short time frame for exchange. My aunt and uncle had 28 days (I think) and if they hadn't exchanged they'd have lost the plot they reserved but wouldn't have been prevented from picking another. They managed to exchange but completion was a long slog while they waited for the house to be ready.

CatAndHisKit · 22/06/2022 21:21

Oh no, chiff that's exactly what I feared. The thing is we could have exchanged in May (and completed) if THEY were ready with all the essential papers (it's flat but managemet co is very efficient). I just thought the plots aer allocated to buyers in around the same time so switching is not usual. Thank you for advice as at least I can brace myself now!

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CatAndHisKit · 22/06/2022 21:22

*a flat

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CatAndHisKit · 23/06/2022 00:28

And also, have they waited weeks or month till completion? Just thinkng most sellers don't like a big gap imbetween.

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chiffchaffchiff · 23/06/2022 07:41

Initially it was supposed to be 6 weeks then it turned into 5 months from exchange to completion. My aunt moved in with her MIL and put their stuff into storage after the developers announced the first delay. They didn't want to mess their buyers around. For their buyers it was about 10 weeks between exchange and completion.

It might be worth asking your solicitor if it's possible to put a long stop date for completion in your contract. I'm far from an expert but if they can say completion must take place within say 8 or 10 weeks (the solicitor will know better what's reasonable) and it doesn't happen, you'd be able to change your mind without losing your deposit. Though of course you'd still have incurred the conveyancing fees, it might persuade the owners to move into rented if their house isn't ready.

ThatPosterIsSoRight · 23/06/2022 07:48

I’m sure switching happens, other people pull out for all sorts of reasons. We switched but early on in the process, when one we preferred came back on as the buyer couldn’t get his finances.

Also the completion date is set at exchange. So there’s no need to put something extra in there (I’m not a lawyer etc). If their purchase is delayed post exchange then they have to complete on their sale and move somewhere temporary.

However basically you need to find out exactly what is going on. Get your solicitor to get their exact position in writing from their solicitor?

Outnumbered99 · 23/06/2022 11:13

The builder will have given them a rough idea of when completion can take place- nothing wrong with your sol asking for a copy of this info from the sellers. Yes, it is common for people to change plots too.

CatAndHisKit · 24/06/2022 21:21

chiff how the heck could a few weeks turn into FIVE months?
Very decent of te to go into rental - I think mine would be unlikely to do that if there is a long delay.
Thank you all for replies - I've tried to get some info from my soliitor today regarding dates but he hasn't got back to me - probaby because he couldb't get it out of their solicitor. Are they obliged to be honest about dates or could they say one thing and ten two weeks later it will be a much worse story (I mean could their sols be dishonest?).
I wonder if I should try gettin gthe agent to speak directly to vendors about it as it's smoke and mirrors via solicitors. Not that the agent is great by any stretch!
Sigh...they were SO much in a rush!

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