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Completing on a sale

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  • 27-01-2016 8:12pm
    #1
    Archaeoliz
    Registered Users Posts: 142 ✭✭


    Just wondering if anyone has any more experience than me over the very final stages of buying. We exchanged signed contracts a couple of weeks ago with completion set for Friday. I know that the vendor wants to complete on Monday rather than Friday but both solicitors are ready to complete on Friday as agreed.

    If our solicitor sends the money to complete the sale over to finalise the purchase on Friday can the vendor's solicitor stop us completing until Monday?

    Attempting to manage my expectations!


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    #2
    Marcusm
    Registered Users Posts: 10,339 ✭✭✭✭Marcusm


    The vendor can easily frustrate completion by simply not moving out. Frankly, if they are not moving out until Monday, there is no point in trying to force a completion on Friday as you will simply be exposed to the risk of them not moving out without having the ability to withhold the funds.

    Each time I have purchased property I have insisted on a pre close inspection the day before closing to ensure that all of the vendor's stuff has been removed. Hopefully, I am doing my last pre close inspection tomorrow; I won't want to move again.


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    #3
    Marcusm
    Registered Users Posts: 10,339 ✭✭✭✭Marcusm


    The vendor can easily frustrate completion by simply not moving out. Frankly, if they are not moving out until Monday, there is no point in trying to force a completion on Friday as you will simply be exposed to the risk of them not moving out without having the ability to withhold the funds.

    Each time I have purchased property I have insisted on a pre close inspection the day before closing to ensure that all of the vendor's stuff has been removed. Hopefully, I am doing my last pre close inspection tomorrow; I won't want to move again.


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    #4
    Archaeoliz
    Registered Users Posts: 142 ✭✭Archaeoliz


    Marcusm wrote: »
    The vendor can easily frustrate completion by simply not moving out. Frankly, if they are not moving out until Monday, there is no point in trying to force a completion on Friday as you will simply be exposed to the risk of them not moving out without having the ability to withhold the funds.

    Each time I have purchased property I have insisted on a pre close inspection the day before closing to ensure that all of the vendor's stuff has been removed. Hopefully, I am doing my last pre close inspection tomorrow; I won't want to move again.

    Thanks, I do think you're right. As annoying as it is, a weekend is not the end of the world (although it's a management of expectation issue as it's my birthday on Saturday and I really was hoping I'd be in the house to toast it with the hubbie and kids - but that's own personal irritation).

    Reserving the right to be cross but resigned; I've been talking to the vendor regularly and she's known about the 29th all along, house is mostly empty but today has told me she's only going to move stuff out this weekend. Today for pity's sake - there's no chain at her side or anything. So blinking rude that she couldn't have told me that before.

    I guess the question I really want to ask is; the contracts are signed and exchanged, the date agreed was Friday so if, hypothetically, in good faith we transfer the funds on the agreed date what point in this process is when you become the legal owner?


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