Buying and Selling- The period in between.

[Snipersham]

Hi All,
I'm looking for some views on the above topic.
i intend on trading up towards the latter end of this year. I would like the sale and purchase to run as close together as possible so avoid the possibility of having the situation arise of being stuck in between transactions so I don't need to be looking at living somewhere else in the meantime.
Is it strange to ask for a few weeks "grace" from the buyer of my home in order to stay there whilst the other transaction goes through alternatively is it possible to move into a new home whilst the sale is still going through (and at an advanced stage of course)?

Thanks in advance

Snippy

 

[mf1]

"Is it strange to ask for a few weeks "grace" from the buyer of my home in order to stay there whilst the other transaction goes through?"

Yes, very. When the buyer pays over the closing funds, they are entitled to Vacant Possession.

"Is it possible to move into a new home whilst the sale is still going through (and at an advanced stage of course)?"

As above, you only get possession when you've paid over the closing funds.

It is possible to reach agreement with either your purchaser or your vendor to allow either scenario but , as a practising solicitor, I would advise clients against any deviation from the norm. We all have horror stories of agreements turning badly wrong when something unforeseen crops up.

mf

 

[Snipersham]

Hi mf1,
Thanks for taking the time to reply.

regards
Snippy

 

[myate]

I've tried selling & buying at the same time twice in the last 4 years, both times it couldn't be completed together. Now that was probably down to the solicitor being not so good at linking the sale/purchase together. I had roughly 2 weeks in between, both timees. Get a really good solicitor if you need this to happen.