Signing Contract

[bkeane]

Have sale agreed on our house and have put a bid on a house. The estate agent said they would look more favourable on a bid from a person with a signed contract, however you need a completition date on a contract - how do you get around this when you can not do contract on your own house without having house to move into?

 

[jhegarty]

Have sale agreed on our house and have put a bid on a house. The estate agent said they would look more favourable on a bid from a person with a signed contract, however you need a completition date on a contract - how do you get around this when you can not do contract on your own house without having house to move into?

don't do it... you will have €€€€ on legal fees before you are ready to sign a contract, tell them offer stands as is , but you won't sign the contract until they accept your offer....

if you do it , they could hold the contact (without a closing date) for months/years , and not decide if they want to sell or not.....

 

[huskerdu]

As seller, you can sign the contract and then change the completion date afterwards.
Even as a buyer, you can try to renegotiate the completion date after signing the
contract, depending on circumstances.
It is a very stressful juggling act, but the ideal synario is
- You get a signed contract for the sale of your house
- You get your offer accepted to buy a house
- Negiotate a suitable completion date and juggle the two to happen on the same day

- If you can convince your lender and you can cope with the financial pain, a closed
end bridging loan can allow you to complete the purchase before the you complete
the sale of your own, which allows you a little more time to move


Good luck

 

[bkeane]

Thanks for quick reply - I will talk to my solicitor re. getting buyers to sign contract