Can anyone give me some advice? My purchaser wants to exchange within a few days using only one hundred pounds, but with completion in ten weeks?Is this possible and does this make a secure contract agreement? Could the buyer still pull out and thus cause me to loose the property? Help needed

Hi Yvonne,

Welcome to the forum. It's not too clear what you are asking. Are you the vendor, the purchaser or an intermediary between a vendor and a purchaser? it's the solicitors who decide the exchange of contracts date, and any one who wants to exchange for £100 with a 10 week completion sounds to me that he wants to use the £100 as an option fee, and write a purchase contract for he "and assigns" which means he is going to sell on the property to a third party at a higher option fee. Just a guess, and nothing wrong with this transaction, other than if the option holder doesn't find a buyer, he'll not complete and lose his option fee (£100 big deal) and it'll cost the seller a lot more than that in waiting time and mortgage interest in the meantime.

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