sue770 Posted June 22, 2007 Report Share Posted June 22, 2007 Hi I wonder if can body can help, has any advice. I have recently sold my property 'subject to contract'. The buyer has asked via the agent, whether entry can be made to the property for decorating, prior to exchange of contracts. Buyer is offering £5,000 - £10,000 as a deposit. Link to comment Share on other sites More sharing options...
Trenners Posted June 22, 2007 Report Share Posted June 22, 2007 Hi Sue770, Don't let your buyer have any access to the property until after COMPLETION otherwise you will expose yourself to all sorts of potential problems if the transaction does not actually complete. I'm sure your solicitor will advise the same. Mark Link to comment Share on other sites More sharing options...
Melboy Posted June 22, 2007 Report Share Posted June 22, 2007 Absolutely and positively NO before exchange of contracts. From exchange to completion it is sometimes permitted but personally I wouldn't because they are not the legal and titled owner and decorating may include "ripping out" so it's a big fat NO from me on that score as well. Mel. Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted June 22, 2007 Report Share Posted June 22, 2007 Gotta say NO as well - although i have just bought 2 flats where i have negotiated entry for me to go in and not only decorate but to market and do viewings and permission to put T 's in but only after exchange ( my request) But i do know the Vendor fairly well ! Personally it would be a NO !!!>>>>>>>>>>>>> I also bought a flat 3 years ago and completely (i mean completely!!) gutted and renovated ,includung new roof, it between exchange and completion - this took 6 mths and then mortgaged it at the end - again i knew the vendor fairly well Simon Link to comment Share on other sites More sharing options...
plym77 Posted June 23, 2007 Report Share Posted June 23, 2007 Exchange is the legal point of no return (otherwise compensation would probably be payable) and whilst it would be better to wait until completion, if it is likely to be detrimental to the sale going through then you could consider letting them in after exchange - providing you have a final completion date andconsider building in a compensation element in case anything does go wrong - you will be paying the mortgage until completion and therefore be careful that you don't end up with a prolonged period between exchange and completion because of the works required. this said... i think i would want to wait until completion - it may actually speed things up! Link to comment Share on other sites More sharing options...
Melboy Posted June 24, 2007 Report Share Posted June 24, 2007 Sue states that the buyer is asking for entry before exchange of contracts. Absolute No-No. The course of action is to speed up the completion date from exchange from the normal 4 weeks and go for 2 weeks or better still exchange and complete on the same day. Mel. Link to comment Share on other sites More sharing options...
F-Prop Posted June 25, 2007 Report Share Posted June 25, 2007 Let me tell you a little story... I was selling a flat, just before exchange of contracts the buyer (a little old lady) turned up on the doorstep with all her furniture asking for a key "just store some furniture" and saying the money would be transferred tomorrow and we would exchange contracts and complete the sale. I said no although I found it very difficult given the circumstances, but allowed her to use the garage to store her furniture whilst she went to stay the night with family. SIX WEEKS later we completed the sale! Seems she had problems obtaining a mortgage... Had I agreed she would have moved in like a shot and lived there at my expense! Did she know and was trying to play me for a fool, or a genuine error... I guess I'll never know! Trevor. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.