Disagreements on completion dates

[LennyFitz]

We found out on Monday that finally our solicitor has everything needed to prepare for exchange. On the assumption we'd complete later this week we proposed a completion date that would be a 3 week exchange-completion gap. We're tenants so have notice to give, removals to book etc. and we'd rather limit the time we double pay rent/mortgage. The only reason we didn't ask for 4 weeks is because the purchase has dragged on and we're keen to get going. We're FTB and the house we're buying is an empty ex-rental house, so expected our completion date to be fine with the seller.

However the day after we were informed by our solicitor that our seller can't do our date and it has to be a week and a half earlier. We didn't receive explanation so followed up via solicitors, again pushing for our dates, as moving it up would cost us money. Finally heard back today and we're informed it HAS to be their date as if it's not, they'll lose their onward purchase.

This house purchase of theirs and the reliance on the sale is complete news to us. We're very frustrated as feel we're being pushed into a fast completion date that 1) doesn't suit us, 2) will cost us money, and 3) is just following a month's delay waiting for the seller to sort out stuff they really should have got done before selling (won't go into details!). If they had a fast approaching deadline for completion we have no idea why they decided to wait til just two weeks beforehand to inform anybody about it! Our solicitor has also just warned that we'd need to exchange by Monday for them to deal with this completion date.

Would it be reasonable to tell them that if they want to move this quickly they need to compensate us for the extra costs incurred with paying both mortgage and rent over those days? We don't want to cause issues for their purchase of course, but we feel it's unreasonable to come up with this demand due to all my reasons mentioned in previous paragraph. We wouldn't be moving til our proposed completion date, so there's all cons, no pros for us otherwise!

It's made me curious as to generally how people agree on completion dates, particularly when chains are involved. We thought our chain-free purchase would be pretty quick and simple but apparently not!

Crikey, most people want exchange and then completion as quick as possible.
Trying to delay it 3 weeks seems like madness.
I certainly wouldn't want to be responsible for someone losing their onward purchase and just crack.on.
Can you ask you LL that if they re-let your house immediately, you can be let off the last week of your rent?

A week is fairly standard though if they are selling it as chain free and it's not I'd complain about that.

Does it make much difference? You would be paying 10 days more mortgage. There is always give and take in moving dates.

How much is the rent for those 10 extra days going cost? Surely you're talking hundreds rather than thousands of pounds?

I think this is something you just need to accept as a FTB moving from rented although I suppose you could ask the seller to pay half if it's a big deal.

You can’t have it all your way, they are not being unreasonable asking for 1.5 weeks between exchange and completion, a week is the norm. Really what are you going to do? Walk away over a few hundred pounds of rent?

Thanks for responses everyone.

"I think this is something you just need to accept as a FTB"
Yep quite possibly. That's why I'm running my thoughts past the mumsnet crowd.

"Really what are you going to do? Walk away over a few hundred pounds of rent?"
No, of course not, but I didn't suggest that would happen. We're basically just a bit peeved that we were given no notice about the fact they had this date in mind, and they'd known well enough we were renters who'd need notice (we've mentioned it to EA a couple times). We'd also have loved to agree this date weeks ago, but we've all been waiting on the seller to sort out final box ticking requirements.

"Trying to delay it 3 weeks seems like madness."
Having a look at a handful of recent threads around here, it seems like anything from 1-4 weeks is the norm, so I hadn't got impression 3 weeks is a long time at all?

We’ve exchanged and completed the same day or had a week max between each time we moved. 3 weeks sounds a lot to me, especially if the process has been dragging on.

it does mean you can move gradually rather than in one mad day.

I’m afraid that’s just how it goes. I can see your perspective but really it’s just the facts of life when moving from renting that there’s often the overlap of paying both rent and mortgage. The chain can’t be expected to accommodate you here.

I would try and view it the other way in that it gives you time to clean your new property and move gradually rather than the mad rush of moving day. I think you need to reframe it in your head.

The overlap may not be a bad thing. It will give you chance to clean and decorate before you move in, plus it will take a lot of pressure off you on moving day.

As a recent seller who had a few “basic last minute questions” to answer which turned out to rely on external companies who had no interest at all in responding to us - cut the seller a bit of slack. Buying a house as a ftb is hugely easier than trying to sell a house as I recently learnt.

This is a standard part of the process, I'm afraid. Asking for a reduction/compensation would very likely be rejected, and would definitely sour things.

It's usual for an agreed completion date to suit one side more than the other, especially in a chain.

It's a stressful process! Best of luck.

We insisted on 2 weeks between exchange and completion so that dh could resign as we were leaving the UK.

Our buyers probably weren't happy but we didn't care. Dh wasn't giving in his notice until the house sale was locked in! I'd already left my job and the thought of both of us being unemployed if it went tits up...

We’ve had a week between exchange and completion and we’ve had 4 weeks between - both are completely normal. It’s all just negotiation but in your situation I would just agree to it for the sake of peace. Bit annoying though I agree.

We had 3 days! It will be fine, I don't think there is any harm in telling them the extra costs to you and asking if they could possibly pay half or something- if you don't ask you don't get.

A completion date has to suit all parties. Solicitors need to nail it to a specific date in order to exchange. Sometimes someone has to compromise on their preferred date and go with the majority.

We had 3.5 weeks, but that was after they'd missed the first four proposed exchange and completion dates. We wanted to get vendor to exchange to stop him mucking about any longer.

We've done it twice from rental into bought house and it's easier with a bit of an overlap, even though it adds to the costs. You need enough time to get the rental thoroughly cleaned and any damage sorted out so you get your deposit back.

Unless your deposit is already with the solicitor you won't be able to exchange on Monday though. You normally need to allow several days to arrange for a large payment to go through from the bank to the solicitor - we had to do this in the actual bank branch and it took at least an hour of queueing and then faffing. It isn't like making instant electronic transfers. Same with allowing enough time for the mortgage to be drawn down.

I agree with this. Yes, it will be a cost but far less stressful move in as you don’t have to do everything in the 1 day.

Ok so this is a bit annoying but in all honestly you are talking about a few hundred pounds - in the grand scheme of things it’s not worth getting into a fight over it. And agree with others - moving will be a million times easier if you have a bit of time to do moving/cleaning etc.