I've been served one of these by the vendors of the house I am buying.
We are closing tomorrow; the actual date for closing was last week, the notice served on that date, so if we close tomorrow, it is 4 days late.
It appears from the notice that the contracts were received 7th march by my solicitor, but from speaking to the mortgage people, they didn't request the cheque until at least 12th march. I wasn't contacted by my own solicitor when the signed contracts were returned from vendors, but handed over the balance of funds immediately that I was aware, unfortunately this was too late to make the closing date as funds need to sit in the solictor's account for 5 days before closing, but fortunately I managed to get them there by the time the mortgage cheque was issued.
What is the likelihood that the vendors will pursue interest costs etc for the sake of a 4 day delay, and what do they need to do in order to claim these, i.e. are they automatically added to the balance of funds?
We are closing tomorrow; the actual date for closing was last week, the notice served on that date, so if we close tomorrow, it is 4 days late.
It appears from the notice that the contracts were received 7th march by my solicitor, but from speaking to the mortgage people, they didn't request the cheque until at least 12th march. I wasn't contacted by my own solicitor when the signed contracts were returned from vendors, but handed over the balance of funds immediately that I was aware, unfortunately this was too late to make the closing date as funds need to sit in the solictor's account for 5 days before closing, but fortunately I managed to get them there by the time the mortgage cheque was issued.
What is the likelihood that the vendors will pursue interest costs etc for the sake of a 4 day delay, and what do they need to do in order to claim these, i.e. are they automatically added to the balance of funds?