Completion date issues

[FTBmanny]

We are first time buyers and I’m now 35 weeks pregnant we’ve been waiting almost 2 months now for a completion date after exchange of contracts.

we are currently renting and our contract ends at the end of august. The vendor is in the process of purchasing an apartment and is trying to tie in the sale and purchase at the same time. We exchange contracts with no completion date (huge mistake in hindsight). We have suggest several dates and made it know we need to move at least 2 weeks before our due date (mid august) but we still haven’t heard anything back I’m guessing since they are still working on the sale.

we have been told conflicting things by the estate agents afew weeks ago they apparently signed contracts then it was they’ve completed enquiries then it was they’re waiting on afew enquires. The last update was they were waiting on an updated land registry and seeking landlord indemnity insurance since the landlord isn’t responding and they were waiting on the latest ground rent receipt.

we have tried to stress as much as possible that 28th July the deadline for us to complete so that we don’t have to renew our contract on our apartment since the landlord would require us to commit to 6 months but also to prepare for our child’s birth and not move to close to the due date or soon after birth.

what can we do in this situation we’re so desperate to move but literally have heard nothing back about timescales or a completion date? ( we have tried contact our solicitors to push for date and the estate agents too)

That sounds really stressful. I didn't even know you could exchange without a completion date. It sounds a bit negligent of your solicitor - what did they say about it?

Are you based in England?

Yeah it’s a really frustrating situation! We’ve signed the contract but currently the completion date section is just sitting empty. I need to ask again if it is legally binding since we signed before discussing the completion date. And yeah we’re in England

You can't exchange before agreeing a completion date.(unless it's a long stop, which you'd be aware of) You have only.signed contracts. You don't need to renew a rental contract, if you don't sign and haven't served notice you will go onto a rolling agreement.

Are you certain you have exchanged contracts? Signing the contract and exchange are entirely separate matters. Very unusual to exchange contracts without a completion date. Must be very stressful for you OP, I hope you get a date soon & good luck with the baby

If Iwas in your situation I would be onto the solicitor everyday, and be contacting every EA in the chain for update and be asking them to chase up also. Good luck.

You haven’t Exchanged contracts yet if you have no Completion date. You may have signed the contract but the solicitors won’t exchange them until you have an agreed Completion date.

It's not legally possible to exchange in England without a completion date, so you're not committed to this purchase. I'd tell the seller that unless you can complete by X date either you will pull out or they will have to wait another 6 months. Might spur them into action.

Have you paid the deposit? As in had your solicitor paid your deposit to the vendor?

If not, you have not exchanged contracts. You sign the contract so that your solicitor has it ready. Exchange is when your solicitor sends that contract to the vendor, with your deposit, and at the same time your vendors solicitor sends their signed contract to your solicitor. From that point on you are under contract to buy, and the vendor to sell with vacant possession.

There is a thing called a ‘long stop completion date’ in which the exact date is not stated in the contract but there is a date which is the deadline for completion.

Your solicitor would have discussed completion date with you before exchanging contracts.

I also think you will have some wriggle room with the landlord. They might WANT a new fixed term contract, but if you refuse and say that you are going periodic, what can they do about it in the short term? It is a very long process trying to get a tenant out of a property. Just pay the rent on time and there is very little downside for the landlord to have you there for another couple of months if need be. You are not looking for a reference from them. They’d also have to be complete monsters to not understand your situation.