Closing Date on house sale

M

Meme80

Registered User
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Hi all,

Wondering if you can help advise a first time buyer :)

We have gone sale agreed on a house and are awaiting the issue of the contracts. We only went sale agreed 2 weeks ago so Im not too worried about this yet.

My query is regarding the closing date and moving in. The vendors are a family who are upgrading and, as far as we have been told, are yet to find their new property. The auctioneer told us while we were in negotiations that if needs be the vendors were willing to rent if they hadnt found anything in time. However, we fear they might delay closing due to this and not stick to their word about renting if necessary.

Can anyone tell me if we have any pulling power over the closing date or is this something determined by the vendor and something we just have to accept?

As I say we are awaiting contracts so the closing date may be suitable but just trying to figure out where we stand if it does come back with an extended closing date that we are not happy with. We are renting at the min and are eager to get into the new house!

Thanks in advance :)
 
The closing date should be agreed between the parties. It will be nominated by the Vendors and their preferred date inserted in the Contract. Your solicitor will discuss this with you and ask you what your preference is.

If you are not happy with the nominated closing date, you can ask for an alternative and try and reach agreement. In the end, if you cannot reach agreement ( and, frankly, if Vendors want to sell their houses, they need to get real on moving out!), it is a very bad omen and maybe time to move on elsewhere.

Your solicitor will advise.


mf
 
Got the sales advice note yesterday but no closing date specified on it. Now to wait for the contracts to find out!
 
I was talking to a neighbour who is in the process of moving house, and it took them weeks and weeks to sort out everything with the bank. I think it was close to 12 weeks after 'sale agreed' to 'sold'.

ETA, this was around May this year, some of the delays due to changes in mortgage rules.
 
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