Buyers pushing for early completion

OldBun58 · 2025-02-03T19:40:15+00:00

Or house buyers are first time buyers, they want to take advantage of the property tax discount which expires on 1 April. We accepted this condition when agreed the sale, and were planning to complete no later than 31 March. Due to winter season and illnesses we did not manage to find a suitable house to move into - until last weekend, and agreed the purchase of the property whose sale just fell through. We are hoping to complete the purchase by the end of March or face renting, which would mean moving twice and an extreme upheaval at our nearly retirement age. We have not even exchanged contracts, but our buyers now insist on completion date 5 March. We explained that we need to exchange contracts ASAP to secure a rental property, and they replied that they will if we agree the completion on 21st March. Whilst we understand that they want a buffer, that extra 7-10 days might make a big difference to us as we might complete our purchase in time to avoid renting. Should we agree to this date or insist on a week later? How binding is the agreement on the moving date that far ahead? Can it be moved nearer the time to suit us? The FTB are renting at the moment, and saying they need to give a notice. Our seller is in the process of buying as well but does not know the timescale yet. Any ideas how to get around deadlines and moving twice? We are not very well but desperately need to move, so cancelling the sale is out of question.

SomersetClimber · 03/02/2025 19:51

I’m currently trying to move too before the stamp duty changes. Worth talking to your solicitor about timescales and when agreed dates become binding. It might also be worth calculating how much the stamp duty increase will cost your FTBs as it might be cheaper for you (if you absolutely have to to save your sale) to offer to cover it for them, and delay the sale until your purchase is ready, it might be cheaper than needing to move twice.

Original poster

OldBun58 · 03/02/2025 20:20

SomersetClimber · 03/02/2025 19:51

I’m currently trying to move too before the stamp duty changes. Worth talking to your solicitor about timescales and when agreed dates become binding. It might also be worth calculating how much the stamp duty increase will cost your FTBs as it might be cheaper for you (if you absolutely have to to save your sale) to offer to cover it for them, and delay the sale until your purchase is ready, it might be cheaper than needing to move twice.

It will cost our FTB 10K, which we do not have as we are buying a property to the very limit of our finances.

OP posts:

CoastalCalm · 03/02/2025 20:30

So your FTB are buying a property worth £500k ? Wowsers

Original poster

OldBun58 · 03/02/2025 21:33

CoastalCalm · 03/02/2025 20:30

So your FTB are buying a property worth £500k ? Wowsers

Yep, 550k! Hard to believe... but this is Surrey and they are a family with kids!

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Bigbrommieowner · 03/02/2025 21:37

It is very unlikely that you will get your connected sale through in time. Put your stuff in storage and rent a short-term let.

If you need to move, keep your buyers happy, agree your timescale now and organise your Plan B. Even moving twice will be less stressful than hoping you can get the chain completed in such a short time.

SeaToSki · 03/02/2025 21:45

Put your stuff in storage and get a airbnb (so furnished) or go on a holiday, stay with friends for a bit or any combination of the above. The most important thing is to get your place sold if you are unwell, and having keen buyers is a gift.

notgettinganyyounger · 03/02/2025 21:54

If you go past the deadline there is a high chance they will pull out altogether. Go to a short rental but get your house sold otherwise you are back to square one and may lose your onward.

Original poster

OldBun58 · 03/02/2025 23:21

Say there is only a couple of weeks overlap. We have 2 living rooms, one of which is 8m long. They are moving from a small 2-bedder. Can we negotiate with the buyers to keep our furniture in one room for a couple of weeks until we are ready to move, whilst we are staying somewhere?

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RoastPotatoConnoisseur · 03/02/2025 23:26

OldBun58 · 03/02/2025 23:21

Say there is only a couple of weeks overlap. We have 2 living rooms, one of which is 8m long. They are moving from a small 2-bedder. Can we negotiate with the buyers to keep our furniture in one room for a couple of weeks until we are ready to move, whilst we are staying somewhere?

No you can't do that OP. You will have to pay for storage.

SummerFeverVenice · 03/02/2025 23:28

You can ask. They would be within their rights to charge you a storage fee though. You’d be up a creek if any damage or loss occurred though, and they may not want to take on the risk.

It would probably be easier to pay a small fee to have your removals company store your household goods at their warehouse and then deliver to your new property when you move in. Your items would then be fully insured against loss or damage. Moving doesn’t have to be door to door.

Original poster

OldBun58 · 03/02/2025 23:29

We previously sold a house also to a first time buyer, who likewise were keen to complete by a certain date. We could not move out in time as we worked miles away and needed time off. So we agreed to formally complete the sale but stayed in the house 2 weeks longer on a rental basis, i.e. rented the house from them. They continued renting their property for a bit longer. Then we had a hiccup with a removal van, which got broken, and we had to get another one two days later. The young buyers were very understanding. They were so fab, we came to visit them 3 years later, they let us in!

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tellmesomethingtrue · 03/02/2025 23:31

OldBun58 · 03/02/2025 23:21

Say there is only a couple of weeks overlap. We have 2 living rooms, one of which is 8m long. They are moving from a small 2-bedder. Can we negotiate with the buyers to keep our furniture in one room for a couple of weeks until we are ready to move, whilst we are staying somewhere?

Absolutely not.

Allthegoodnamesarechosen · 03/02/2025 23:31

OldBun58 · 03/02/2025 23:21

Say there is only a couple of weeks overlap. We have 2 living rooms, one of which is 8m long. They are moving from a small 2-bedder. Can we negotiate with the buyers to keep our furniture in one room for a couple of weeks until we are ready to move, whilst we are staying somewhere?

Their solicitor will probably ( and should) advise against this. You sell and buy with ‘vacant possession’ which means the house is empty. Once anyone waives this, there is no guarantee that you wouldn’t keep your furniture there for months, or even live in it.

(Yes, I know you wouldn’t, but it can and has happened).

SummerFeverVenice · 03/02/2025 23:32

As you are going into rented, you can start the rental contract on the 21st. Most landlords are happy to get a tenant in on any day of the month. They don’t insist on the 1st.

Original poster

OldBun58 · 03/02/2025 23:34

SummerFeverVenice · 03/02/2025 23:28

You can ask. They would be within their rights to charge you a storage fee though. You’d be up a creek if any damage or loss occurred though, and they may not want to take on the risk.

It would probably be easier to pay a small fee to have your removals company store your household goods at their warehouse and then deliver to your new property when you move in. Your items would then be fully insured against loss or damage. Moving doesn’t have to be door to door.

Edited

We don't mind paying the buyers something. Do removals store goods as well? How much would they charge? 12 years ago they quoted £100 per day for a volume of a single garage!

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SummerFeverVenice · 03/02/2025 23:35

OldBun58 · 03/02/2025 23:34

We don't mind paying the buyers something. Do removals store goods as well? How much would they charge? 12 years ago they quoted £100 per day for a volume of a single garage!

Show quote history

Most removal companies can do a move with temporary storage instead of door to door. You’d be wise to get quotes from several companies.

SummerFeverVenice · 03/02/2025 23:37

We don't mind paying the buyers something

Yeah, and you can offer, I just wouldn’t expect them to agree and as a pp pointed out their solicitor would likely warn them against it. I wouldn’t ask them myself as the risks are too great and it is kind of a cheeky ask. You’re selling a £550k home, you should be able to afford to move out without FTB help.

Original poster

OldBun58 · 03/02/2025 23:38

SummerFeverVenice · 03/02/2025 23:32

As you are going into rented, you can start the rental contract on the 21st. Most landlords are happy to get a tenant in on any day of the month. They don’t insist on the 1st.

Who on earth would let us rent short term, we might only need a month. Rental market is very tough in Surrey. And we could not afford all the fees, we maxed out on the next house, which is why we are trying to find a solution.

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SummerFeverVenice · 03/02/2025 23:40

OldBun58 · 03/02/2025 23:38

Who on earth would let us rent short term, we might only need a month. Rental market is very tough in Surrey. And we could not afford all the fees, we maxed out on the next house, which is why we are trying to find a solution.

Show quote history

Holiday rental would be cheap that time of year and you can usually rent by the week. What fees? Or are you saying you can’t afford rent?

If so, buy a tent and go to a campsite.

Original poster

OldBun58 · 03/02/2025 23:41

SummerFeverVenice · 03/02/2025 23:37

We don't mind paying the buyers something

Yeah, and you can offer, I just wouldn’t expect them to agree and as a pp pointed out their solicitor would likely warn them against it. I wouldn’t ask them myself as the risks are too great and it is kind of a cheeky ask. You’re selling a £550k home, you should be able to afford to move out without FTB help.

550K house in Surrey is only small, and ours is actually an apartment. 550k here does not mean you can afford, it means all your money goes on a house and you have nothing left.

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Twiglets1 · 04/02/2025 06:02

You’re being unrealistic @OldBun58 in expecting your buyers to solve your problems.

Extremely unlikely they will tolerate you keeping your stuff in what will become their house & their solicitor will definitely advise them against it. You need to find your own solution to the problem without involving them. As others have suggested, you may need to live in an Airbnb for a few weeks with your stuff in storage. Or live with relatives or find some other solution.

You agreed to complete by March 31st many months ago and the onus was very much on you to find a suitable house to buy in time or organise a rental. You did neither & seem to live in chaos. But your problems are not your buyers problem.

HarryVanderspeigle · 04/02/2025 06:36

You have agreed a date with buyers and you know they can't afford your place after that date. You need to decide whether it is more important to you to sell to these people, or stay longer. You risk not getting the same price again, or being on the market for ages.

Removal companies do often offer storage. I had one store my stuff for a year while I was working abroad and they delivered it to my new place when I returned to a new place. It was half the price of the instant access storage places.

Overthebow · 04/02/2025 06:52

Well the choice seems to be move to rented or the purchase falls through. Your buyers set that condition and you accepted. If you don’t want that then let them know now so they can find somewhere else.

DarlingSophieImHome · 04/02/2025 06:52

Removals do storage as we had this a long time ago when we couldn't get our completion dates to match. Removals came day before move day and packed away pretty much everything except our beds. We had 2 young children. We moved into a hotel for a couple of weeks and saw it as a bit of an adventure. This was before the whole Airbnb boom so hotel was our only option as I still had to do a school run.

No solicitor would advise your buyer to store your things or let you rent. Those days are gone and it could take 8 months to evict you on the renting their house front.

The main issue with storing your stuff isn't the storage part, it is the fact you are paying for 2 removal teams whereas normally you would be paying for one on one day. It did mean we got the keys on say a Wednesday at the usual 2pm but we got all our furniture delivered on the Thursday at 8am.

Look at Airbnbs, holiday lets and see it as a breather before moving again. At least in that sort of property you would have a kitchen and laundry facilities. To get your house sold I would do it.

SheilaFentiman · 04/02/2025 06:55

Your stuff would not be insured in their home. So they would be ill advised to do this. Plus they want to get in and get their stuff in and arranged, especially with kids.

If you think that completing a week later eg 28 March would make the difference, counter with exchange on 7th and completion on 28th. They mostly want the certainty of dates now and removal firms will be getting booked up as lots of demand for moves to beat the deadline.