11:02 AM, 22nd June 2021, About a month ago 2
Hi, We are approaching the end of the Stamp duty holiday up to 500K and I have a property that is legally ready to exchange. However, we are having an issue on the approach to exchange and completion.
My challenge is that in case this moves to July, I won’t be doing it because of the extra tax and won’t make financial sense. Weird thing is that the property I am buying was supposed to be chain-free, but we suddenly learnt that my seller lied to us, and he is actually buying a property as well. He wants to do an exchange asap and complete on 28th.
My solicitor advised that in case this does not happen on 28th, we need to give them 10 days notice, and we may end up paying extra tax. So, I am pushing the chain to exchange and complete on the same day, but they are pushing back. I assume I should not be the only person having this problem, and looking for some creative solutions?
Such as, we can offer that we are happy to pay their removal company cancellation fees in case we do not buy on the day agreed?
Anything to make this easier for a small chain with 4 properties?
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