ellen fedulow

hi all
I signed the contract and transfere to sell my house last week, the new buyers signed their bits this week, but i am now struggling to find somewhere to rent, the houses i have applied for so far i have turned me down because i have 4 children and a dog! does any one know how long i can stay in my own home now all contracts have been signed? i have only given a provision leaving date (1/oct)

your help would be appreciated

cheers
ellen1

whisky

Blimey ellen, I hope you find somewhere soon.

Whisky

ellen fedulow

me and hubby arguing now, he says contracts being signed means nothing, its the actual handing over the keys that makes it official, i say the house now belongs to buyers and we stay at THEIR descretion. Any one any suggestions, before i divorce him!

ellen1

gdcollectables

Hi Ellen

have you agreed to an exchange and a completion date?

ellen fedulow

no, i gave an estimated date, but not a definite. I have already started getting mail for the buyers!!!

gdcollectables

Hi Ellen

the usual procedure is for all the solicitors acting for buyers and sellers in a transaction to get all the papers signed in advance.

Then they and the parties they are acting for should agree on an exchange date.

The exchange date is when the deposits are paid (in theory) and the deals become legal.

You should then have a period of about two weeks until completion.

On the completion date the house becomes the property of your purchasers and you will need to move out, normally by 1pm when the monies have reached their respective bank accounts.

You can ask for a longer period of time between exchange and completion - it depends on the circumstances of your buyers as to whether they will agree; also whether there is a chain of people waiting to move!

In today's climate the best thing to do, would be to secure the exchange as soon as possible; so that you can rest assured that the sale is definitely going ahead!

GOOD LUCK!!:

ellen fedulow

thank you so much for your advice, now i have found a rented property i will ask for an exchange and date of completion

cheers

ellen1

Sandra

For interest only...

It might piss everyone else off in the chain but as the buyer you also have the right to extend the agreed completion date after exchange for up to 2 weeks with no penalty!

How I know?...our buyers did it to us, we checked everything with our fantastic solicitors to try and stop it - but nope you as the buyer are in a position to get to the actual completion and extend by two weeks. The people selling can then issue a notice to complete, but as long as the buyers are still going to complete within the next week and a bit they can do it without penalty. It happens very rarely (but to us it did!). So please if you have a solicitor acting for you ask them does the same apply to you as the sellers ? just in case you get to the wire and need a few more days?

PS - when buyers pull this one - you as a seller have some recourse to compensation if you can prove actual hardship and real costs, so it might not be the best course of action as a seller check with solictor. You never know?

PSS - Best Of Luck and have fun moving

Cheers

ellen fedulow

Thanks for the warning! At the momment my buyers are pressuring me for a move date, they can't wait to move in, well, it is their first home together ahh


cheers
ellen1

Sandra

Me----ahhhh? nope all very nice but does not count...

Look after yourselves first...check it out...ask the question off your solictor ...make sure you are ok..

Our buyers (via agents did all this to come back and try and drive price down, cause they knew we were in Aus).........ah lovey does not count...your house, you know what you want to sell for. Be tough......threaten pull out...it works!

PM me ?

Best of luck