Contracts for sale signed by buyer - can I change date

U

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I issued contracts to a buyer for my house over a month ago. We received them back signed on Monday. My solicitor is not currently available, so maybe one of you can help.

I haven't seen the contracts yet, but I understand from the Auctioneer that a closing date of early May is mentioned.

What leverage do I have as the seller to stretch the closing date by a few weeks to buy me some time with another transaction. Can we change the closing date without reverting to the buyer for a 're-sign' ?
 
Can we change the closing date without reverting to the buyer for a 're-sign' ?
Not really. The contract shows price, closing date and contents.
I suggest that you request an extension of time now - before signing contracts - if they refuse, decide whether or not you're willing to either lose good faith by subsequently pushing out the closing date or pull out and hope for another purchaser. If they say yes, thats great.

It is hard when you're in a chain because there is a large element of good faith and trust involved. Everyone is trying to please themselves and get their own stuff organised.

mf
 
They signed with a closing date 3 weeks out. My solicitor has been unavailable for 1wk of that so far. Isn't 3 weeks optimistic.
 
They were probably waiting for their loan approval -once they have that, it should be okay. Plus a 7 week closing date from issue of contracts would be normal enough.
If your solicitor is not available ( for that length of time?) why not revert to auctioneer and go that route to see if an extension of time is alright?

mf
 
Surely your solicitor has designated another solicitor to deal with such matters in his or her absence???
 
I am also in a chain and not ready to move yet. Upon reading this post, I checked with my solicitor as contracts had already been issued to my purchasers and I didn't realise that closing dates where entered in the contract
He told me that no date had been specified and that the purchasers solicitor may enter a closing date on the contract. He stated that this can be changed.

The impression I got is that the date can be changed and the parties can agree a date seperately
 
The closing date can always be changed by agreement. There is always a closing date ( or at least a closing date mechanism i.e. three weeks from Grant of Probate, three weeks from happening of some event). Its not a exercisable contract without some agreement on a closing date - what would stop someone simply refusing to close in those circumstances?

mf
 
< original guest poster here >

In relation to the lack of availability of solicitor, this is the 7th working day he has been unavailable, and I'm on the 4th day of waiting for his practice partner to ring me having (or so I am told) reviewed my file. I rang every day so far as a reminder. Still no call.

Closing date on my contract for house sale is 8 working days away. I have bridging to draw down requiring letter of undertaking from solr. No date fixed yet for purchase.

I am getting pretty worried at this stage. Is moving the conveyancing to another practice at this stage worth a try (or worth a threat at least)?

Any other suggestions?
 
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