Completion Date received!

alipops1986

:j I think i'm so excited i could possible WEE myself!


The vendor wants to complete a week tomorrow, woohoo! Really hadn't realized we were so close to the end :beer:

Solicitor seems confident the search results will be in by early next week [old one in HIP pack showed no issues anyway, just done a new one to be sure].

Going to check with bank that funds will be available to transfer early next week too.

However, it seems actions stations :T

almillar

Try to hold it in or you'll have to clean up the mess. I'm meant to be moving in on the 10th too. Good luck!

chickmug

You must keep pressure up so you don't end up exchanging and completing on the same day. As it is you will only have a few days gap which could end up being NO gap:eek:

Pigster_2

That's great. Have you exchanged yet?

Pigeongirl

chickmug wrote: »

You must keep pressure up so you don't end up exchanging and completing on the same day. As it is you will only have a few days gap which could end up being NO gap:eek:

What's the difference between 'exchange' and 'completion' and why are they bad to do close together?

Pigster_2

Exchange is when you exchange contracts and is the point beyond which neither party can withdraw from the transaction. It is also when you pay the deposit.

Completion is the point at which you pay the balance of the purchase price, the stamp duty etc, become the legal owner, collect the keys and move in.

Most people like to have a couple of weeks between the two, to pack, arrange the move, organise utilities etc and to arrange for the funds to be lined up ready to transfer. You can do both on the same day but it has always seemed to me to be a bit risky.

alipops1986

Thanks folks!

The time scale is rather tight, probably have to postpone until a week today, or middle of that wk at least.

Need to make an appointment to sign the paperwork next week as well, once ive spoken to the bank about when the money will be ready to go so i can give a date of completion accurately!

House is currently empty and i'm a FTB, so no chain at all really.

CharleneUK

Congratulations! I hope everything runs smoothly for you!

x

charliee_3

congrats!!! we just picked up the keys to our first home today.. very exciting, but nerve-wracking walking round and when we noticed things realising it was us that had to fix them now as we cant just call the land-lady!! eek...

xx

zappahey

Pigster wrote: »

Most people like to have a couple of weeks between the two, to pack, arrange the move, organise utilities etc and to arrange for the funds to be lined up ready to transfer. You can do both [exchange and complete] on the same day but it has always seemed to me to be a bit risky.

In my experience, it can also be intensely stressful as you worry about any last minute snags or potential gazundering, while the movers are loading your stuff on the truck.