contract signed, house due to close 30th sept- hold up

[momomo]

Hi
A friends house was sold and due to close the 30th of september, due to hold up with paperwork it hasnt and she has had to pay another mortgage.
how long can the purchasers hold things up with paperwork before she can legally force them to close?
Thanks

 

[jesster]

I think you have 28 days to close but its very rare to go that far. A few days over closure can sometimes happen due to paperwork (perhaps life assurance). I know that you can charge interest on the days past the closure date but the cost does not add up if its only a few days.

The solicitor should know why exactly its being held up.

 

[muchfaster]

They can hold up with paper work indefinetly...The only way to Force the close is to serve them with the 28 days notice.They will then be given 28 days to close the sale from the date the notice is served on them.
You reserve your right to sue for the interest incured from the closing date i.e. 30th September .But you are also giving them a get out clause ..( all be that they will lose booking deposit and the deposit that they paid down on signing of the contracts...) it would also state that if the property is sold within a year at a lower price then they will also be liable to make up the difference.


Patience ..thats the key..Keep on top of your solicitor. and threaten the 28 days closure but only use it as a (very) last resort..

 

[momomo]

You reserve your right to sue for the interest incured from the closing date i.e. 30th September .But you are also giving them a get out clause ..( all be that they will lose booking deposit and the deposit that they paid down on signing of the contracts...) it would also state that if the property is sold within a year at a lower price then they will also be liable to make up the difference.

quote]

Thank you so much for both replies, Its good to know that my friend has options, the purchaser has been a nightmare from day one, so she knew that things would stil not move smoothly.