Property News · February 6, 2023

Is it risky to delay the completion date when selling our home?


Our sellers want the whole chain to exchange contracts in March but to complete in JulyQ I have an unusual situation I’m hoping you can help me with. We are in a relatively short property chain – we are selling our current house to first-time buyers, and we are buying a house from people whose onward purchase is the end of the chain.They want to do a substantial amount of work to the property they are buying and have suggested that the whole chain exchanges contracts in March but with a completion date for our purchase of their property and the sale of our property in July. They would then complete on their onward purchase, which would give them four months to complete their work before moving in (presumably with some kind of bridging loan to cover the gap). They would like to avoid moving into rented accommodation in the interim, and don’t want to live in the house while the work is being done. Continue reading…

Source : theguardian.com
Read more…Is it risky to delay the completion date when selling our home?

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