FTBs being pressured to complete in 7 days but haven’t even exchanged yet. is it normal?
My partner and we are first-time buyer, currently in the final stages of getting our mortgage. the seller is also chain-free.
The seller is dead set on a completion date of 22/05 (which is next week). However, as of today (13/05), we haven’t even exchanged contracts yet. We haven't signed the final papers or even been asked to transfer the deposit to our solicitor.
We just received the survey report yesterday and have a couple of genuine concerns we need to raise (nothing major serious). We want to push Completion back to 01/06 (which makes more sense for our finances as we are currently renting until July), but the seller flat out refused and is insistently pushing for the 22nd. I feel like we’re being forced into an incredibly risky and unrealistic timeline.
- Is it normal to be pushed this hard to complete within 7 working days when we haven't even exchanged?
- Is the seller's refusal to move the date by just one week a red flag?
- We're worried that if we rush this, we’ll be hit with double bills (rent + mortgage+council tax+bills)) and overlapping interest for no good reason other than their deadline
Should we stand our ground? Thanks in advance for the advice