70 thoughts on “Delayed completion? Your Costs, Compensation & Legal Remedies”
We were due to exchange and complete on 13th October (as agreed by all parties on 7th October). We are in the centre of a chain of three and the person we are buying from has already moved out using a bridging loan on the property. Our solicitor let us know at lunchtime on the day of exchange/completion that the OS1 had come back with a charge on the property we were buying so completion could no longer happen that day (the charge is the bridging loan). Our solicitoor claims that the vendors solicitor did not know about this charge but surely they will have done if another property has been purchased using it?!
Our removals company had already packed up almost all of our property and we have incurred costs of around £1000 (plus lost work days) to put it on hold until we get a new completion day. The land registry says that OS1 should only take 1 to 2 days so does this mean my solicitor asked for this too late as it would have been received before completion had it been requesed on the 7th… are we entitled to compensation for malpractice? for info, we have many other complaints against this solicitor but this is the first that has caused financial detriment and left two OAPs in a dangerous living situation (daily nurses and GPs had already been informed oof the move date).
Thank you for getting in contact, and we’re sorry to hear about the problems you’ve experienced with your exchange and completion. From what you have said, there was no formal contract in place because exchange and completion were due to take place at the same time, so if that’s the case, as we suspect your own solicitor may have, or should have, advised there is likely no claim against your seller.
As to whether you may have a claim against your own solicitor, the first question would then be whether your own solicitor could or should have carried out their final search at Land Registry before the completion date so that this issue may have been discovered sooner. Obviously we cannot comment regarding your solicitors conduct as we are not party to the full facts but given you seem to have been aware of the seller’s bridging finance, then if your solicitor was also aware then they should have sought undertakings from your seller’s solicitor before completion to discharge the bridging finance on completion.
Professionally speaking we are unable to comment much further without all the facts, and there may be extenuating circumstances of which we are not aware, but it would seem you may have cause to raise a formal complaint with your solicitor, which they are obliged to address. We hope your transaction is brought to a successful conclusion.
You’ve found your dream home. The survey’s done. Your solicitor has the searches back. Everyone’s ready to exchange contracts. And then someone in the chain pulls out. In our earlier article on delayed completion, we looked at what happens when things go wrong after contracts are exchanged. But what about when the chain breaks before […]
Delayed completion: what are your options when someone in your chain of property transactions is late? With a group of strangers all working toward completing on the same date, it's a wonder it ever works out on time.
This collection of cases of property misrepresentation claims should remind all of us how important it is to tell the truth on a Property Information Form
We were due to exchange and complete on 13th October (as agreed by all parties on 7th October). We are in the centre of a chain of three and the person we are buying from has already moved out using a bridging loan on the property. Our solicitor let us know at lunchtime on the day of exchange/completion that the OS1 had come back with a charge on the property we were buying so completion could no longer happen that day (the charge is the bridging loan). Our solicitoor claims that the vendors solicitor did not know about this charge but surely they will have done if another property has been purchased using it?!
Our removals company had already packed up almost all of our property and we have incurred costs of around £1000 (plus lost work days) to put it on hold until we get a new completion day. The land registry says that OS1 should only take 1 to 2 days so does this mean my solicitor asked for this too late as it would have been received before completion had it been requesed on the 7th… are we entitled to compensation for malpractice? for info, we have many other complaints against this solicitor but this is the first that has caused financial detriment and left two OAPs in a dangerous living situation (daily nurses and GPs had already been informed oof the move date).
Thank you for getting in contact, and we’re sorry to hear about the problems you’ve experienced with your exchange and completion. From what you have said, there was no formal contract in place because exchange and completion were due to take place at the same time, so if that’s the case, as we suspect your own solicitor may have, or should have, advised there is likely no claim against your seller.
As to whether you may have a claim against your own solicitor, the first question would then be whether your own solicitor could or should have carried out their final search at Land Registry before the completion date so that this issue may have been discovered sooner. Obviously we cannot comment regarding your solicitors conduct as we are not party to the full facts but given you seem to have been aware of the seller’s bridging finance, then if your solicitor was also aware then they should have sought undertakings from your seller’s solicitor before completion to discharge the bridging finance on completion.
Professionally speaking we are unable to comment much further without all the facts, and there may be extenuating circumstances of which we are not aware, but it would seem you may have cause to raise a formal complaint with your solicitor, which they are obliged to address. We hope your transaction is brought to a successful conclusion.