how long from exchange to compleat?

linzi_lou

hi, im just wondering how long it takes from exchange to compleat and recive keys and move in? our solicitor has recived the paperwork from the sellers solicitor on friday and is looking through them if all is well there then we will go to exchange.

also just wondering the property did not have a hips, we wernt aware of this untill the solicitor started there bit and informed us, she said the estate agent said it was because the house went on sale efore the hips came in, we had to pay about £95 for this, is this right and ok for this to happen? thankyou for any advice.

G_M

how long it takes from exchange to compleat

Can be same day. Can take 3 months. More info needed.

HIPs? waste of time. If they are old (or missing) then most solicitors/lenders will insist, sensibly, on getting up to date searches done. Which incurs the same cost as the pre0HIP days.

linzi_lou

thankyou, i dont know much about it really, were ftb. i just know that there was no hips done and we had to pay for it ontop of the other searchers, i was just wondering really if they should have organised and payed for this or if it is standard practice that if the house went on sale prior to hips been required that the buyer pays there solicitor to carry out the search.

all of our searchs have come baack ok with no problems, other than something about water quality that we need to phone 7 trent about if we are concernd but its not affecting us proceeding. also there are some water main pipes running just within our boundry of the front garden and tiny bit of the back garden and they say 7 trent have the right to dig this area up if they ever need to do work there, it is the same for the whole street, the solicitor ensured us they would not need to enter the house at all.

thankyou for your help, hopefully wont be too long for us! one more thing, can we ask the bank what day we want our first payment to go out, the one that is more expensive than the others, so that i can get it to go out after pay day, mortgage advisor said once the first payment is made we can change to date but it seemed that the 1st date for 1st payment couldnt be changed, but he did say that if we payed the deposit in say october then it would be unlikley that the fiorst payment woul;d go out in the same month so it would go out in novemberwhich would be good for us.
so hoping to exchange by end of next week or begining of the next, that been begining of october!

vegasbaby100

yeah it is common for you to pay for searches! our solicitor reccomended having all searches re done although the house had a hip on it so yeah normal for that.

Completetion tends to be 1 week after exchange unless anyone has certain requirements, our buyers wanted two weeks between exchange and completion so could give notice on their place.

When you say payments what do you mean? Mortgage or policy cover/insurances?

iamana1ias

linzi_lou wrote: »

thankyou, i dont know much about it really, were ftb.

No excuse whatsoever for not finding out. This is probably the biggest and most important purchase you'll ever make. Why not find out how it works and the legal implications?

LandyAndy

And it's 'Severn Trent'.;)

PasturesNew

The day you complete, the moment you complete, the house is technically yours and your seller's solicitor/lender have received the money from your mortgage company.

On that date you will receive a phone call from your solicitor, and probably from the estate agent, telling you completion has happened.

At that point, you can expect to be able to pick up the keys immediately and for the sellers to have moved out entirely.

You can probably expect that phone call by about 2pm. You will most likely be able to pick the keys up from the estate agent.

It is possible that the sellers are in the middle of moving out (van parked outside, last stuff still being loaded on) - and they won't take the keys to the estate agent until they've finished.

Obviously there are variations on the above, if there are delays or complications (not often), and/or if the sellers have a lot of stuff or their removals let them down, then there's a small chance things could be delayed a bit and you might find yourself fretting about the pick up time and if it's still going ahead.

Once you've got the keys, it's yours. The first thing you need to get done is to change the locks, at least the barrels. So either turn up with some barrels yourself and change them, or identify the local locksmiths you can run to to get them changed on the day. Or, find somebody who will do this for you. You never know who in the past has ever had a key to a property.

Next, when you go in, take a meter reading for gas, water, electricity. Write them down and take a photo if you can. Then contact those companies to let them know it's your house now.