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There are 4 in the chain, my buyer (they've already sold and are living with family), me and our vendors. Our vendors are moving in to a new build, so I guess the development company are 4th in the chain.
Solicitor phoned me the other day saying the development company are saying the want an on-notice completion date. Not really come across this, but it means you exchange without knowing when you are likely to complete. Then you basically get a call saying you have 2 weeks notice.
The thing that worries me, beyond the practicalities of trying to organise a removal company, is that they could effectively delay indefinitely.
We originally were looking to complete in October, but with that sort of completion arrangement, it could go on for months.
Told my solicitor to push back saying it's not acceptable. Can't see our buyers being too happy either.
Anyone been in a chain where someone is buying a new build?
yup, and they moved into rented while waiting for their house to be finished. I wouldn't have accepted anything else. I would suggest that the people up your chain need to do the same thing.
Basically it means that they havent finised the property and want the flexibility of not working to a deadline
Its unlikley you will be able to pass this down the chain and their only option to buy the new build will be to get out and rent!
If you do go for it you must try to specify a back stop date so that your morgage offer hasnt expired. Again the seller will probably not go for that either.
I just moved out of a newbuild - never again, from purchase through ownership to sale it was a nightmare..
I'd get the people you're buying from to set a firm date and let them sort out what happens if the new build is'nt ready.
wwaswas - Member
I'd get the people you're buying from to set a firm date and let them sort out what happens if the new build is'nt ready.
This. It's a serious case of NoMFuP. It's their mess they need to deal with it or else you don't buy their house any more. If they want it to be your problem then I'd expect some sort of consideration as part of the deal - ie. enough money to cover any rental costs you might accrue, plus a bit extra for the inconvenience.
No chance would I agree to that. Sellers go rent, developer can foot the bill for being late.
wrecker - Member
developer can foot the bill for being late
The problem (for the seller, not the OP) is that the developer is never late because they never contractually agree to deliver a house by a certain date.
Thanks for the replies. Was kind of thinking the same thing and insist on them moving in to rented accommodation if they can't get the construction company to agree on a fixed date.