another question - sorry

claz

on the completion day if there is no chain what time should we expect to get the keys

at first i was told between 11.00 and 12.00 by a friend by now my solicitor is saying 2.00pm at the earliest!!!! there is no chain and the property is vacant

is this correct or his he bull s***ing again!!!!

Rubber_Duck_4

There can be problems in releasing funds. This happened to me and there was no chain. I was supposed to get funds into my account by 12:30 but due to the buyers mortgage provider I didn't get the funds till about 4:00.

Things hardly ever run to time when you are completing but hang in there it'll all happen eventually

Jay1b

I still live with Mummy and Daddy (:(), but from friends that have recently brought.....its usually 4pm.

Your mortgage comes out about 9am, and the money sits in the estate agents (or solitors - cant remember which), for this time so they can make interest on it, whilst your paying it.

Jorgan_2

There is no set time for completion its a very common misconception. When the vendors solicitor receieves the purchase monies into their account, the keys can be released. I've had completions take place at 9.30 and at 4.30. It is best to aim for 12.00 if you have to be out of somewhere.

Woby_Tide

Jay1b wrote:

I still live with Mummy and Daddy (:(), but from friends that have recently brought.....its usually 4pm.

Your mortgage comes out about 9am, and the money sits in the estate agents (or solitors - cant remember which), for this time so they can make interest on it, whilst your paying it.

I'm not sure many banks pay interest(or charge it) by the minute, usually daily so it sitting around your solicitors accounts for a few hours makes very little difference. A lot of the delay is in arranging telegraphic transfers and teh actual sending and receiving of instructions

suki1964

Just to say that both my solicitors have in their contracts that completion is up till 4 pm. Buying this property I got the call at 12.30 to say the house was now mine. I think you are being optimistic about 10.30, the vendors removel van will probably still be there.

claz

suki1964 wrote:

Just to say that both my solicitors have in their contracts that completion is up till 4 pm. Buying this property I got the call at 12.30 to say the house was now mine. I think you are being optimistic about 10.30, the vendors removel van will probably still be there.

as i said in my orginal post the proerty is vacant so i will not have to wait for them to move out

micheleen

It's very variable in my experience. Last time I bought I had a phone call from my solicitor at 10am and picked the keys up from the estate agent half an hour later. Went up to the house and the girl I was buying from was still tidying up, the estate agents had told her it would be after 4pm :rolleyes: