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  • FIRST POST
    • wannapayoff
    • By wannapayoff 7th Dec 12, 9:19 PM
    • 213Posts
    • 1,776Thanks
    wannapayoff
    Exchange to completion? What happens
    • #1
    • 7th Dec 12, 9:19 PM
    Exchange to completion? What happens 7th Dec 12 at 9:19 PM
    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!
    Two little princesses
    <------- I find this disturbing!
Page 1
  • becominganobsessivesaver
    • #2
    • 7th Dec 12, 9:28 PM
    • #2
    • 7th Dec 12, 9:28 PM
    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)
    • wannapayoff
    • By wannapayoff 7th Dec 12, 9:34 PM
    • 213 Posts
    • 1,776 Thanks
    wannapayoff
    • #3
    • 7th Dec 12, 9:34 PM
    • #3
    • 7th Dec 12, 9:34 PM
    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)
    Originally posted by becominganobsessivesaver

    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..
    Living in our forever house!
    Two little princesses
    <------- I find this disturbing!
  • becominganobsessivesaver
    • #4
    • 7th Dec 12, 9:42 PM
    • #4
    • 7th Dec 12, 9:42 PM
    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!
  • G_M
    • #5
    • 7th Dec 12, 10:25 PM
    • #5
    • 7th Dec 12, 10:25 PM
    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
  • caeler
    • #6
    • 8th Dec 12, 5:07 PM
    • #6
    • 8th Dec 12, 5:07 PM
    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!
    MFW | Debt Free since 2009 | NSD Fan | LC
  • becominganobsessivesaver
    • #7
    • 8th Dec 12, 5:20 PM
    • #7
    • 8th Dec 12, 5:20 PM
    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!
    Originally posted by caeler
    25th january - that's appalling, we're completing on 20th and i was pretty peeved to have to wait til 31st!
  • caeler
    • #8
    • 8th Dec 12, 9:25 PM
    • #8
    • 8th Dec 12, 9:25 PM
    25th january - that's appalling, we're completing on 20th and i was pretty peeved to have to wait til 31st!
    Originally posted by becominganobsessivesaver
    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.
    MFW | Debt Free since 2009 | NSD Fan | LC
  • becominganobsessivesaver
    • #9
    • 8th Dec 12, 9:33 PM
    • #9
    • 8th Dec 12, 9:33 PM
    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.
    Originally posted by caeler
    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!
  • caeler
    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.
    MFW | Debt Free since 2009 | NSD Fan | LC
    • wannapayoff
    • By wannapayoff 9th Dec 12, 11:18 AM
    • 213 Posts
    • 1,776 Thanks
    wannapayoff
    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..
    Living in our forever house!
    Two little princesses
    <------- I find this disturbing!
  • ruggedtoast
    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?
    Originally posted by wannapayoff
    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
    • wannapayoff
    • By wannapayoff 9th Dec 12, 11:38 AM
    • 213 Posts
    • 1,776 Thanks
    wannapayoff
    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.
    Originally posted by ruggedtoast
    You would think that sort of thing would be done before exchange... We've never been bankrupt so should be ok
    Living in our forever house!
    Two little princesses
    <------- I find this disturbing!
  • ruggedtoast
    You would think that sort of thing would be done before exchange... We've never been bankrupt so should be ok
    Originally posted by wannapayoff
    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.
    It's better to be a dead hero than a living wuss. - Drazic: Heartbreak High
  • Yorkie1
    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.
  • MX5huggy
    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.
  • YoungBusinessman
    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?
    • wannapayoff
    • By wannapayoff 10th Dec 12, 8:36 AM
    • 213 Posts
    • 1,776 Thanks
    wannapayoff
    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?
    Originally posted by YoungBusinessman

    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
    Living in our forever house!
    Two little princesses
    <------- I find this disturbing!
  • caeler
    I would also put in place a redirect with Royal Mail for things you may have forgotten,
    Originally posted by wannapayoff
    They will need 5 working days.
    MFW | Debt Free since 2009 | NSD Fan | LC
    • wannapayoff
    • By wannapayoff 10th Dec 12, 11:18 PM
    • 213 Posts
    • 1,776 Thanks
    wannapayoff
    They will need 5 working days.
    Originally posted by caeler
    Thanks for this info!

    Will await my completion date and look at this again
    Living in our forever house!
    Two little princesses
    <------- I find this disturbing!
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