How strict is the timeframe on signing contracts?

[Josey Wales]

Hi,

At the moment I'm in the middle of purchasing a home. We were told that we have to sign the contracts 21 days after they were posted to our solicitor, which will be the 19th April.

Does anyone know how strict they are on this time period?

We are worried it won't be sorted in time with the Easter Bank Holiday weekend. We are just waiting on the mortgage broker to sort out the loan approval.

 

[ramble]

Depends on the builder and their solicitor. You can usually string a week or so without too much difficulty from the big builders, smaller builders can be more relaxed. If there is a big demand and waiting list for the properties they will be fairly strict. If you think you are not going to make the 21 days get your solicitor to contact the builders solicitor to let them know whats going on.

 

[willalex]

As a word of caution I recently lost a property because the contracts were not signed within 21 days.

When we sent the 10% deposit and contracts back to the builder's solicitor, they returned them saying the builder was putting the property back on the open market.

I was buying one of the last properties being released as part of phase 1. Lo and behold 5 weeks later it is back on the market as part of phase two for a €50K higher price. I am pretty miffed with the builder.

This is probably more likely to happen with a new build scenario. But I would recommend you do do everything to give them no excuse not to complete the deal.

 

[deem]

we have the same scenario, second last on site, however no new phase, and are supposed to sign wednesday, builder is ok about a further week, ten days, only getting surveyor out tomorrow ...Wednesday!