Sandra

I have been stuck in a really crappy situtation and just wanted to know if others have any experience.

We believed all the hype from our estate agent and went with a buyer who said he could complete quickly cause he said he had the mortgage sorted yadda yadda yadda......bullshit.

He has just invoked the extra time clause......basically he can delay the completion date and our solicitor has to issue him with a notice to get a move on! But he gets extra time and we get sod all while waiting. We (for long story reasons) came here without having sold the house and now a year on are selling. The bugger we were assured by our agents was a great bet turned out to be the buyer from hell. We offered on one house and have lost it due to this plonker we are now on our second house here and just about to lose it cause of him invoking this clause. I have since (hindsight the wonderful teacher) found out you can ask for a clause to be put in your sale contract to ask for compensation per day if they delay the completion date. They do this as standard for sales in Sydney (it might be an AUS thing I only know here). Bacially if I exchange here with a stated completion date and if I then delay the completion date my contract states 12% per annum worked on a per day rate!!!!

So basically does anyone have experience of people extending the completion date and losing them money and houses. I feel so stupid trusting these people, to my knowledge they have had a baby twice in the last two weeks and various other excuses.

Feeling a complete mug!

Also if this joke of a buyer finally gives up the ghost and I haven't got my ten percent deposit on exchange I have the pleasure of suing him for the rest of the money-----the joy of getting a court order that states he pays me 10 quid a week till goodness knows when.

I know most of you are looking to sell up first and arrive with the money....but for those who are not...Check the fine print, and put in your own clauses in your contract.

Poorer but wiser

PADDAD

Ooh Sandra how frustrating and infuriating for you!

Sending you positive thoughts and hope things pan out for you very soon!

yafm

Having worked for a total of 12 yars for good estate agents in UK I have NEVER heard of such a clause. Only once did we come across someone who could not complete on time and he had to pay up a certain percent for each day he extended and compensate for aborted removals and etc.
He must have had a canny solicitor who slipped in this clause for him what was your solicitor doing was he asleep????????

Badge

when i bought my first flat in 2000 in london i was told of interest payable daily if i failed to complete on said day - but maybe this was to do with funds held by solicitor etc etc

badgers

Sandra

I am confused...are you saying our contract in the UK should have had a standard amount per day in as compensation for delay of completion? Yes that was what I stating to people to check - Our UK one did not have this. The AUS one does but that is not to our benefit. So what clause have you not heard of - if my post is not clear please let me know and I will clarify

We are being told we can claim for some costs so far incurred cause they are going to delay but they do not include the fact we have yet again lost a house due to the estates agent and buyer IMOP lying through their teeth.

Sandra

Oh YAFM - you might have misunderstood what I said....every sale in legal terms can delay the completion date, your solicitor on the day of completion that does not happen only then can issue a legal notice to complete. This is a legal obligation not a contractual one. I was bitiching about the fact I did not get a per day fee for them doing this stated in my contract. THE LAW states the buyer can delay and still proceed after a specific amount of time I have no right to back out at this point.

If I did not make this clear - sorry, that was the point I was trying to make, take your legal understanding and put it in the contract....big bloody difference

Cheers