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My question is, what risks are we exposing ourselves too if we exchange contracts 2 months before completion.
I think the main exposure is that you'd still be liable for the EA & solicitor fees if it all fell through after exchange of contracts. But I'm no expert.
If you love the house, I'd have your EA find out more about their emmigrating situation. Is it nailed on, have they got Visas sorted, or are they dependent on a job offer etc etc. Cos if they are waiting on something that is not 100% sorted, and don't get it, you could end up waiting 5-6 months for nothing.
Hairingtons
Just had an offer we put on a house accepted. Wahey! Only downside is the seller is saying on the condition that we delay completion until March. They are emmigrating then and are also expecting a baby in 4 weeks, so they want to avoid having to move twice. They are keen to exchange as quickly as possible though.
My question is, what risks are we exposing ourselves too if we exchange contracts 2 months before completion. From what I understand, after exchange we become responsible for the property and thus will need to get building insurance, but is there anything else I should be thinking about?