Exchange of contracts to completion… Is there a time limit?
Is there a time limit between the exchange of contracts and completion? I understand it is usually a couple of weeks but are there any rules regarding timescale.
I have agreed a sale for my house and I intend to move into rented accommodation. 
There was no point looking for rental property prior to the sale and at the moment there is nothing suitable.
The buyers will want to push for a quick turn around however it may take a while for me to find a suitable place.
Rather than risk the sale is it possible to agree to exchange of contracts and then leave the date of completion open, which of course could mean waiting months?
Thanks
Onslow Clough
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Member Since July 2013 - Comments: 233
4:07 PM, 7th October 2014, About 12 years ago
Hi Onslow,
This situation comes up all of the time and yes it is awkward. However, without wishing to offend I think you need to think about it from the buyers perspective and agree a sensible timescale with them (Two weeks or less would be the norm) and then just get on with your move. If you are renting then you may have to ‘put up’ with something less than your ideal initially but you do need to facilitate the sale. If you do not do this then the buyer is likely to just see the process as stalled and move onto the next property. Buyers waste survey fees all the time so I wouldn’t bank on this as a hold on your buyers.
Member Since November 2013 - Comments: 218
7:48 PM, 7th October 2014, About 12 years ago
Reply to the comment left by “Ray Davison” at “07/10/2014 – 16:07“:
Hi Ray i appreciate the points you’re making but “putting up with something that is not ideal” is exactly the thing I want to avoid. This will be my home and it needs to be right. That is why i was wondering how much time i have. I understand that it requires a certain amount of brinkmanship but i suppose that’s the gamble.