Sale agreed and contract signed but seller stalling

[balkanhawk]

Hi, i would just like to bounce our situation off of a few people. We went sale agreed on a property on the 4th of October. We were advised that the seller wanted to move quickly as she was in financial trouble. That suited us as we are FTB. We had a little dispute over furniture but that was resolved. We signed contracts and were told that the keys would be ready for collection on the 13th of November. The day arrived and we were informed that it would be a week to 10 days before she is ready. We contatcted our solicitor on friday (23rd) and were told it could be another two weeks (her mortgage isn't even approved. we were told it was ready on the 13th). We told our solicitor to pass on that if she was not out by this Friday we will pull out of the purchase as she had broken the contract already. I would of thought in todays climate that sellers would want to wrap up the deal as soon as possible. Any observations?

 

[amgd28]

her mortgage isn't even approved.

That should not have anything to do with it. Contracts are signed with a closing date of the 13th, keys should transfer on that date as far as I am aware.
Her mortgage is irrelevant as it is not related to the property in question. Regardless of whether she gets a mortgage or not, she now has to move out, not your problem. She can always rent.
I am surprised (or am I? ) that your solicitor has not been more pro-active on this

 

[Stifster]

If you are ready to go tell your solicitor to serve a completion notice.

Tell her/him that a fella in a pub mentioned it.

 

[efm]

If you are ready to go tell your solicitor to serve a completion notice.

Tell her/him that a fella in a pub mentioned it.

Yup - this will force the seller to close within 28 days after which time you are in an excellent position to charge interest as detailed in the contract.

(Stifster will know the details much better than I!)

 

[juke]

I agree that a completion notice should be served. Unfortunately, purchasers cannot charge interest, only sellers.

 

[efm]

I agree that a completion notice should be served. Unfortunately, purchasers cannot charge interest, only sellers.

Really? I didn't know that. So does that mean that the purchaser has no powers to penalise non / late completion of contract? Can purchasers claim for expenditure incurred as a result of delays in completion? ie rent, hotels etc etc

 

[juke]

Sadly, the contract is drafted more in favour of a seller. A claim for expenditure, like you suggest, would have to be made post completion, in the District Court, for breach of contract.

Generally, I find it's best to threaten the seller of the liklihood of a claim after closing, and this gets them to close sooner, and, if they think a District Court action is likely, they may agree to a reduction in the purchase price - I've only seen this happen once.

 

[balkanhawk]

I have never heard of a completion notice but i gather that our solicitor should have told us about this.

 

[gally74]

hello,

watch out for esb meter reading, ntl, telecom is handed over, dont fret too much thou as solicitors often take longer than you would think,

good luck with your new house, its a good investment, seems a lot of property has started to sell.