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Going on holiday between exchange and completion?

Gazelle1985
Gazelle1985 Posts: 145 Forumite
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in House buying, renting & selling
Hello,

We are in a chain of 4, second from the bottom. Our buyers have been ready to exchange for a couple of weeks, and we have just had our survey back, so are hoping to ready in the next few weeks. Our vendor is roughly the same way along as us.

Our buyer is getting a bit impatient (it has been 8 weeks since we accepted his offer, with Christmas in the middle...), so we are keen to exchange sooner rather than later, but we have a 2 week holiday in 3 weeks time. We don't want the stress of trying to exchange and complete in 3 weeks, and before our holiday, but is there any reason why we couldn't exchange just before we go, and then complete the week after we get back - so a 3ish week gap between the two?

This is all completely hypothetical of course, as we're well aware of how long things take with solicitors!!

Thanks
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Comments

  • Slithery
    Slithery Posts: 6,046 Forumite
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    Of course you can, as long as everyone else in the chain agrees.
  • csgohan4
    csgohan4 Posts: 10,587 Forumite
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    personally wouldn't go on holiday until everything is sorted out, what if the solicitor needed you sign something or clarify e.t.c.


    Will depend as above if everyone else will agree,
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Slithery
    Slithery Posts: 6,046 Forumite
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    csgohan4 wrote: »
    personally wouldn't go on holiday until everything is sorted out, what if the solicitor needed you sign something or clarify e.t.c.

    This is all done before exchange though. Between exchange and completion there isn't anything to do.
  • eddddy
    eddddy Posts: 16,431 Forumite
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    That will be the period most people would normally be booking a removal company, packing up your house, sorting out a broadband/tv contract, preparing change of address notifications, arranging post re-direction, etc.

    That's why a lot of people like a 2 to 4 week gap between exchange and completion.

    But if you're comfortable with fitting in a holiday as well, there's nothing to stop you.
  • Gazelle1985
    Gazelle1985 Posts: 145 Forumite
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    Thanks everyone. To be honest, the only reason we would is to keep our buyer happy as he is rushing to exchange and we don't want him to pull out. We could do booking removals etc over email from abroad I guess.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    First Post Combo Breaker
    Gazelle1985 wrote: »
    We could do booking removals etc over email from abroad I guess.

    Not so easy if the removers want to look at how much stuff you have to give an accurate price, some don't but I've always gone with one who has been to take a look.
  • eddddy
    eddddy Posts: 16,431 Forumite
    First Anniversary First Post Name Dropper
    Gazelle1985 wrote: »
    Thanks everyone. To be honest, the only reason we would is to keep our buyer happy as he is rushing to exchange and we don't want him to pull out.

    Would your buyer really pull out over a 3 week delay...

    ... when finding and buying another property is likely to take 10 to 12 weeks minimum (and the loss of a few hundred pounds)?


    If it calms your buyer's nerves, you could even suggest an early exchange followed by a gap of 4 or 6 weeks until completion - so that you're not so stressed on your holiday.
  • kingstreet
    kingstreet Posts: 38,760 Forumite
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    As a pro doing this for over 30 years, I am astonished by the number of people who decide to combine a holiday and a property purchase at the same time.

    No criticism of the OP intended. Just amazed, that's all...! :eek:
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Gazelle1985
    Gazelle1985 Posts: 145 Forumite
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    Haha, we would never have chosen to combine a property purchase and a holiday! We've had our house on the market since last March, were just about to take it off and try again in the spring, booked a holiday and then got an offer!

    I wish we weren't going on holiday - it's massively stressing me out, and I think we'd probably cancel it if it wasn't a long haul trip which has cost us quite a bit and is non-refundable...
  • mjs0510
    mjs0510 Posts: 17 Forumite
    Over a 2 week Xmas and New Year holiday we exchanged on sale & purchase, confirmed our in between rental house, booked removal company, changed address with utilities etc all sat on a beach in Mexico. Nothing to stop you if your organised before you go, we had had quotes for removals and signed both contracts before leaving though. Email and Wifi has moved things on over 30 years - you could be sat anywhere.

    We had hoped for it all to be done before Xmas so we wouldn't have to interrupt our holiday but our buyers solicitors had other ideas.
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