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Exchange to completion? What happens

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Comments

  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    wannapayoff wrote: »
    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.
  • wannapayoff
    wannapayoff Posts: 225 Forumite
    First Anniversary First Post Combo Breaker I've been Money Tipped!
    ruggedtoast wrote: »
    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 :)
    Living in our forever house!
    Two little princesses
    :grouphug: <
    I find this disturbing!
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    wannapayoff wrote: »
    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.
  • Yorkie1
    Yorkie1 Posts: 11,552 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    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
    MX5huggy Posts: 6,851 Forumite
    Name Dropper First Post First Anniversary
    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
    YoungBusinessman Posts: 1,239 Forumite
    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?
    :eek:Living frugally at 24 :beer:
    Increase net worth £30k in 2016 : http://forums.moneysavingexpert.com/showthread.php?p=69797771#post69797771
  • wannapayoff
    wannapayoff Posts: 225 Forumite
    First Anniversary First Post Combo Breaker I've been Money Tipped!
    YoungBusinessman wrote: »
    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
    Living in our forever house!
    Two little princesses
    :grouphug: <
    I find this disturbing!
  • caeler
    caeler Posts: 2,605 Forumite
    Mortgage-free Glee! Photogenic Name Dropper First Post
    wannapayoff wrote: »
    I would also put in place a redirect with Royal Mail for things you may have forgotten,

    They will need 5 working days.
  • wannapayoff
    wannapayoff Posts: 225 Forumite
    First Anniversary First Post Combo Breaker I've been Money Tipped!
    caeler wrote: »
    They will need 5 working days.

    Thanks for this info!

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