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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2437
Experience:  Over 5 years in practice.
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Can a buyer make you wait an extra ten days so he can get his

Customer Question

Can a buyer make you wait an extra ten days so he can get his money out , cause it takes seven days to get out?. Or should he pay a penalty to finalise completion sooner ?
Submitted: 2 years ago.
Category: Property Law
Expert:  Aston Lawyer replied 2 years ago.
Hello and thanks for using Just Answer.
I am Al and am happy to assist you with your enquiry.
I take it that you have not yet exchanged Contracts and you are waiting for your Buyer to be in a position to exchange?
I look forward to hearing from you.
AL
Customer: replied 2 years ago.
My buyers buyer is holding us up. I have exchanged with my seller and my buyer.but my buyers buyers have not.?
Expert:  Aston Lawyer replied 2 years ago.
Thanks for your reply, Sharon.
Well, if you have exchanged on your Sale and Purchase, there is a legally binding agreement and your Buyer is under a duty to complete on the day as agreed as the completion date under the Contract.
What date is/was the completion date?
Kind Regards
AL
Customer: replied 2 years ago.
No completion date signed for only given verbally .
Expert:  Aston Lawyer replied 2 years ago.
Hi Sharon,
Sorry for all the questions, but I am still not clear- if you have exchanged Contracts, a completion date (moving date) has to be agreed at that time.
So, have you formally exchanged Contracts on your Sale and Purchase?
Kind Regards
AL

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