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Original poster

Completion date may be pushed back and I'll be homeless!

26 replies

Wizzywoo18 · 05/09/2023 23:45

OK, so a slightly dramatic subject line but, essentially, it's the truth.

I have to be out of my current home by the end of this month. I made a cash offer on a property dependent on the sale completing by that date which was agreed and put in the memorandum of sale.

We were meant to exchange by the end of August and I'm getting a slightly sinking feeling that the sellers' conveyancing on their purchase is dragging. I don't think they have had a change of heart it's just they are buying a leasehold property with the added complications.

If they can't meet the completion date agreed, I will have to go into some kind of airbnb or similar at very short notice and put my belongings into storage. (For complicated reasons, family relationships are either distant and unhelpful or they have no room at all to spare. One friend who offered to help now has a son returning home to live with them and has apologetically retracted her offer of a spare room).

Should I tell the sellers if they can't meet the completion date agreed, I'm dropping the sales price to take my additional expenses into account? What would you do? I'm starting to slightly panic.

OP posts:
Ohmylovejune · 05/09/2023 23:49

I'm guessing that could make things worse and further delay matters if they don't have that cash, or the price change means they have to reapply for a higher mortgage.

Have you been given a date?

Original poster
Wizzywoo18 · 05/09/2023 23:55

Not yet it's just my solicitor is murmuring that we 'could' still complete in time but an element of doubt now seems to be present. We are just over 3 weeks away.
I've been on airbnb as a precaution tonight and the options are a bit limited and pricey.

OP posts:
GeorgeBeckett · 05/09/2023 23:55

So you're a cash buyer and they are buying a more complex property? As PP says it's difficult as negotiating on price may have implications for making their process longer.

I would contact and say you need to be out of your house and will now be in short term AirBnBs. You need completion ASAP or will
have to consider looking at other options or taking your additional costs into consideration in the context of the sale price. Could they please get back to you with an exchange date ASAP?

Not quite a specific threat yet. But one is not too far away?

Original poster
Wizzywoo18 · 05/09/2023 23:58

The sellers are downsizing and have made a handsome profit on the property but of course I don't know their finances.
@GeorgeBeckett Sensible advice, thanks

OP posts:
HeddaGarbled · 06/09/2023 00:05

Should I tell the sellers if they can't meet the completion date agreed, I'm dropping the sales price

No.

Until you exchange, they have no legal obligation to you, regardless of your previous discussions. They could pull out any time they wanted, as could you. Then you’ll be waving goodbye to a lot more money than the cost of an Airbnb and storage for a few weeks.

Original poster
Wizzywoo18 · 06/09/2023 00:15

@HeddaGarbled Yes, good point. I could cut off my nose to spite my face - however tempting!!

OP posts:
ToBrieOrNotToBrieThatIsTheQuestion · 06/09/2023 00:34

I'd also try www.spareroom.co.uk - some people do take short term lodgers, though others prefer longer termers.

My current lodger was only meant to be here for about 6 weeks between eviction (landlord selling up) and completion, but two sales have fallen through since then and it's looking more like 6 months. Absolutely fine by me - as far as I'm concerned she's got the room for as long as she needs it.

It will be much more economical than Airbnb, though of course you would be sharing the kitchen and usually the bathroom.

SpareRoom - the UK's No. 1 flatsharing site

Search for a room to rent or find a flatmate the fast, safe and easy way - we have thousands of ads all across the UK.

http://www.spareroom.co.uk

Original poster
Wizzywoo18 · 06/09/2023 07:35

@ToBrieOrNotToBrieThatIsTheQuestion Thank you. I have a cat which complicates matters a bit.
Just tried short term lets on spareroom and nothing available but I'll try again.

OP posts:
gogomoto · 06/09/2023 07:38

It's worth reminding your solicitor of your deadline, but ultimately there's nothing they can do to force them to speed up. On the other hand we exchanged and completed on the same day, right up to then the paperwork dragged

TiredandLate · 06/09/2023 07:40

Any chance your sellers can complete on the sale and move out themselves whilst their purchase continues? If they agreed to the date as part of the sale they should be looking for solutions to honour it.

TiredandLate · 06/09/2023 07:41

I say 'should' as in morally, doesn't sound like they have to though

IcedGemsandPartyRings · 06/09/2023 07:52

Really tricky situation, especially with a cat. If it's just a week or so, cat may have to go into cattery.
The memorandum of sake is unfortunately a fairly meaningful document.

I would first look at staying in your present property. I may have missed it, but why do you need to be out? We had someone in our chain who was renting and my solicitor advised that they should just stay, they would never be evicted for the sake of a week or 2.

If it's that you don't want to lose your sale, then yes, put pressure on your sellers to get out to temp accommodation. Don't mess with the price, just tell them if you have to go into rented it will be for 6 months and you'll need to start from scratch. People don't want to lose a buyer in the current climate.

IcedGemsandPartyRings · 06/09/2023 07:53

Meant to say meaningless for MOS.!

Original poster
Wizzywoo18 · 06/09/2023 09:16

@IcedGemsandPartyRings The reason I must be out on a certain date is that is the completion date for the sale of the house I'm living in.
So that must be honoured come what may.
@gogomoto Did you set up your utilities and contact your bank etc in advance of exchange and hope it went through? I can see I may not have broadband in time but that's not the end of the world. It's the last minute admin scramble I'm dreading!
@TiredandLate I could certainly put the onus on the sellers honouring their commitment to the completion date. I was very up front about this and they wanted to move quickly to not lose the property they wanted to buy.

OP posts:
Ohmylovejune · 06/09/2023 11:11

You are in a gambling position to be honest.

You don't have any legal ability to force completion.

You may win some £££ if you ask them to meet your extra costs as they haven't met their original agreed intention equally you may delay it further or lose it completely. There's no way of definitely knowing.

If the most likely reason is to do with leases then it's no surprise that the legals are taking longer. Its not the seller being awkward it's just the situation. People can ask for deadline at the outset but ought to realistically understand that if the legals don't come together then it's really more of a polite request than anything else.

There are no doubt good reasons for why you need to be out and you are comfortable with them. Sadly, then, you will need to think about options if the solicitors cannot make the date.

We are coming out of summer now but most static caravan parks stay open until later in the year. Maybe you could find a few months let in one of those with an agreement to clean for your pet at the end o put your cat into a cattery for the duration if they aren't a house cat.

IcedGemsandPartyRings · 06/09/2023 14:37

I don't really understand why the completion date on your sale is set in stone? Isn't that what happens in chains, everyone waits till everyone is ready.

KievLoverTwo · 06/09/2023 15:45

If you offer the landlords advertising for long term lodgers on Spare Room significantly more than the weekly rate, some might be willing.

TotalOverhaul · 06/09/2023 15:51

I would. I'd say that the sale was agreed on the express condition of completing in a timely manner. if this doesn't happen and you have to book an airbnb for weeks and store your furniture then you will have to knock those costs off the agreed sale price. Give them an estimate on how much these things will c ost over each fortnightly period. Might speed them up.

One of my family has waiting since March to buy a home, no chain, no mortgage. Just idle tossers running the show. Luckily they can stay with us, but they are very sick of hanging around.

Singleandproud · 06/09/2023 15:56

Do you have a haven or similar nearby? Mightbe much cheaper than an Air B&B now the season is over.

ActDottie · 06/09/2023 16:27

It’s annoying but no house sale goes smoothly

Original poster
Wizzywoo18 · 06/09/2023 17:19

@IcedGemsandPartyRings I should have clarified my completion date - sorry.
I live in my late mother's home. It is a probate sale and my family accepted an offer last March and exchanged with the buyer in June. The buyer gave me 6 months from the offer to find somewhere else to live.

My cash offer was always expressly dependent on that completion date and the EA today confirmed they were clear on this, too, whatever the legal grounds. They don't want to lose me as a buyer either.

I live in a city so very far away from any caravan sites, Havens or similar unfortunately and I don't drive but thanks for the suggestions. I may be able to get a friend or family member to drive me.

OP posts:
IcedGemsandPartyRings · 06/09/2023 17:44

Oh dear, yes, if you've exchanged you have a lot at stake. I just don't know what to suggest other than pressuring onward seller to break the chain. That will be much more useful to you than trying to get compensation Or even consider a holiday/ hotel / cattery / storage combo if it's just a couple of weeks?

Original poster
Wizzywoo18 · 06/09/2023 18:05

@IcedGemsandPartyRings Thanks - ironically the fact we'd exchanged on Mum's home made my offer more favourable to the seller!
They are buying a chain free home but it's a flat so with the added complications of leases etc.

OP posts:
BlueMongoose · 07/09/2023 11:54

Maybe they could be asked nicely if they felt they could contribute towards your rent for the gap period, as it dos seem to be their problems causing this- and you were specific about dates, after all. Or they could go into rented themselves.

Grmumpy · 07/09/2023 13:22

Tell you solicitor you want the exchange to happen now as it is past the agreed date of end of august and the completion date of end sept to be written into exchange as is usual.

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