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Exchange to completion? What happens
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# 1
wannapayoff
Old 07-12-2012, 9:19 PM
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Question Exchange to completion? What happens

All appears to be happening quickly and our buyer and our seller are looking to exchange on December 18th.

We received a letter today and one of the questions is preferred completion date....

Now it says this generally occurs 2 weeks post exchange!?

What exactly happens between exchange and completion apart from exchanges of funds?

Do most solicitors take Xmas/new year weeks off? Will this add another two weeks?
Living in our forever house!
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<------- I find this disturbing!
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# 2
becominganobsessivesaver
Old 07-12-2012, 9:28 PM
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Book removals, pay funds to solicitor, redirect post, sort out phone etc. You could request completion, but i'd say you latest date for this year is probably 21st december and earliest next year 3rd january (from experience we're completing on 20th)
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# 3
wannapayoff
Old 07-12-2012, 9:34 PM
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Quote:
Originally Posted by becominganobsessivesaver View Post
Book removals, pay funds to solicitor, redirect post, sort out phone etc. You could request completion, but i'd say you latest date for this year is probably 21st december and earliest next year 3rd january (from experience we're completing on 20th)

Thankyou

I'm all new to this, DH has left all paperwork and decisions etc to me.. Trying to get my head around everything with a 4 week old and a toddler is difficult!.. I'm thinking of aiming for mid January but obviously we all have to agree on a date so I'm not expecting to get what I want.. Hubby will also have his big overtime pay packet by then too..
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# 4
becominganobsessivesaver
Old 07-12-2012, 9:42 PM
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If possible try and talk to your buyer and seller and see what they want too, best to discuss informally before going to the solicitors. We've had a bit of a nightmare and 20th isn't great for us (my baby's birthday), but we've started packing and I just couldn't bear waiting til january. It's so scary the thought of moving with small children, but it's because of them we need the space. Good luck and I hope it works out how you want!
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# 5
G_M
Old 07-12-2012, 10:25 PM
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Also useful is one of the many books available on house-buying. Free from the locallibrary, or do a search on Amazon.

You'll get to understand what the solicitors are doing, what you need to do, what lists to get together, etc
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# 6
caeler
Old 08-12-2012, 5:07 PM
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The big decision you need to make is before or after Christmas. There might be somebody in your chain who wants to be in for Christmas! If you think moving this side of Christmas is too much you'd better say now incase completion dates of 21 December come back. I'm due to complete on Friday 14 December so I've spent the past day confirming removals, aerial installation, BT services (but have to wait until 25 January to get installation), Gas/Electric account closed and opened, transferring the last of the funds ready for completion (if they would only get my completion statement right), finish off packing, eating all the food that could spoil from fridge, freezer and cupboards! I'm sure there is more!
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# 7
becominganobsessivesaver
Old 08-12-2012, 5:20 PM
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Quote:
Originally Posted by caeler View Post
The big decision you need to make is before or after Christmas. There might be somebody in your chain who wants to be in for Christmas! If you think moving this side of Christmas is too much you'd better say now incase completion dates of 21 December come back. I'm due to complete on Friday 14 December so I've spent the past day confirming removals, aerial installation, BT services (but have to wait until 25 January to get installation), Gas/Electric account closed and opened, transferring the last of the funds ready for completion (if they would only get my completion statement right), finish off packing, eating all the food that could spoil from fridge, freezer and cupboards! I'm sure there is more!
25th january - that's appalling, we're completing on 20th and i was pretty peeved to have to wait til 31st!
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# 8
caeler
Old 08-12-2012, 9:25 PM
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Quote:
Originally Posted by becominganobsessivesaver View Post
25th january - that's appalling, we're completing on 20th and i was pretty peeved to have to wait til 31st!
Isn't it just. It is for a new line and apparently BT Openreach have a backlog. I have been mugged by BT that is for sure.
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# 9
becominganobsessivesaver
Old 08-12-2012, 9:33 PM
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Quote:
Originally Posted by caeler View Post
Isn't it just. It is for a new line and apparently BT Openreach have a backlog. I have been mugged by BT that is for sure.
Ours already has a line (current owner works for bt), why they can't just press the button on 20th I don't know but they're full of excuses!! I tell you what after 12 months I'll definitely be looking to switch!
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# 10
caeler
Old 08-12-2012, 10:28 PM
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If I didn't want to keep my number I'd have switched. I'm going to head to primus once the new contract I've been forced to agree to ends.
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# 11
wannapayoff
Old 09-12-2012, 11:18 AM
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Got the sellers contract thru post and she's put:
Exchange contracts before 18th December & move in BEFORE Christmas (if possible)

:O

Hmmm is this even doable? I suppose that if our buyer is willing and all searches have been done then yes.. Hmmmm

Think me and DH are going to wait until our eldest goes to bed and go over all paper work and make sure all signed and nothing missing.. Then decide!
Would be amazing if not a little chaotic to say the least to be in before Xmas..
I seriously need to sort a checklist out for people to call etc..
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# 12
ruggedtoast
Old 09-12-2012, 11:28 AM
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Quote:
Originally Posted by wannapayoff View Post
All appears to be happening quickly and our buyer and our seller are looking to exchange on December 18th.

We received a letter today and one of the questions is preferred completion date....

Now it says this generally occurs 2 weeks post exchange!?

What exactly happens between exchange and completion apart from exchanges of funds?

Do most solicitors take Xmas/new year weeks off? Will this add another two weeks?
Not much as far as you're concerned, apart from preparing to move.

One thing I was surprised to learn was the the solicitors still have extra checks to do on you between exchange and completion; including a bankruptcy search.
It's better to be a dead hero than a living wuss. - Drazic: Heartbreak High
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# 13
wannapayoff
Old 09-12-2012, 11:38 AM
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Quote:
Originally Posted by ruggedtoast View Post
Not much as far as you're concerned, apart from preparing to move.

One thing I was surprised to learn was the the solicitors still have extra checks to do on you between exchange and completion; including a bankruptcy search.
You would think that sort of thing would be done before exchange... We've never been bankrupt so should be ok
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<------- I find this disturbing!
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# 14
ruggedtoast
Old 09-12-2012, 12:08 PM
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Quote:
Originally Posted by wannapayoff View Post
You would think that sort of thing would be done before exchange... We've never been bankrupt so should be ok
Me neither but I would definitely preferred it if all the checks that needed checking had been done before I signed on the dotted line.
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# 15
Yorkie1
Old 09-12-2012, 6:19 PM
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The bankruptcy search is often done early on, but a final late check is frequently required to make sure that nothing has changed, or to ensure that the seller isn't legally required to pay the money elsewhere.
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# 16
MX5huggy
Old 09-12-2012, 8:34 PM
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When I bought I exchanged and completed on the same day, so nothing that takes any time needs to done between.

But there was no chain in any direction.
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# 17
YoungBusinessman
Old 09-12-2012, 10:25 PM
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We are due to exchange tomorrow or Tuesday and complete on Friday. Moving into a 2 bed flat, first time buyers. We do not need removals as I have a big van for shifting the few big items we require.

What do we need to do? Get in touch with everyone and get address changed over, get electic and gas set up/accounts open? Get in touch with sky, not sure what else?
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# 18
wannapayoff
Old 10-12-2012, 8:36 AM
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Quote:
Originally Posted by YoungBusinessman View Post
We are due to exchange tomorrow or Tuesday and complete on Friday. Moving into a 2 bed flat, first time buyers. We do not need removals as I have a big van for shifting the few big items we require.

What do we need to do? Get in touch with everyone and get address changed over, get electic and gas set up/accounts open? Get in touch with sky, not sure what else?

As soon as I have our completion date ill be ringing all providers, I would also put in place a redirect with Royal Mail for things you may have forgotten, someone on here mentioned you could leave stamped address envelopes for any posts that arrives after you're gone... I believe you need to make note of gas/electric readings the day you leave
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# 19
caeler
Old 10-12-2012, 7:29 PM
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Quote:
Originally Posted by wannapayoff View Post
I would also put in place a redirect with Royal Mail for things you may have forgotten,
They will need 5 working days.
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# 20
wannapayoff
Old 10-12-2012, 11:18 PM
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Quote:
Originally Posted by caeler View Post
They will need 5 working days.
Thanks for this info!

Will await my completion date and look at this again
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<------- I find this disturbing!
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