My partner and I are in the process of buying our first home. The seller is moving into a new build property which is currently being built. When we received our memorandum of sale, the completion date was signed off as “June/August”.
We have been ready to exchange for 2 weeks, however, the seller is not ready as they aren’t sure on the completion date of their new build. We got told last week that our completion period would be July 2026. However, we have received another email today saying the seller isn’t ready to exchange and completion won’t be until August, with a late stop date in November.
We are not sure what to do going forward. How smart is it to exchange contracts without a completion date? Do we hold any sort of power in getting them to narrow it down further before we exchange? Our mortgage offer is due to expire in September so November is no good to us.
* we have contacted the estate agent about this who is in frequent contact with the seller. Their stance is the long stop date is to protect us.