Exchange - How much notice?

Worried

I'm in the process of buying a flat, which seems to be moving very slowly and there still seems to be bits to be done further up the chain (I am the bottom). The agent has no news of an exchange date yet, but I am wondering how much notice will I get before the exchange date? What is usual? I was reading on another thread that you should have all your insurances in place on exchange. I have shopped about a bit and found some good products, but have done no more as I have heard nothing about an exchange date. Will I get enough notice of exchange for me to get all the insurances etc sorted?

lilyann1

Make sure you speak to your solicitor about that. We are hoping to exchange soon and I hope to get a few days notice, so I can get my deposit monies to my solicitor in time. I would advise you to get the insurances quoted for and on paper, so all it needs is a phone to call to each to get them placed on risk on the exchange day. You may get some notice but then again you might only get 1 or 2 days and thats not alot of time to get all insurances sorted,as especially with life insurance they require lots of details.If you get quotes sent to you now and decide on some then most will do it over the phone and you can then send the paperwork back after that.

Jorgan_2

Your solicitor will contact you when the chain is looking to exchange, they will require you to agree to the completion date & will ask to see copies of any insurances/assurances required. It should only take you a day or so to copies of anything required to your solicitor.

Jorgan_2

Following on from lillyann1's post, if you haven't paid your deposit monies to your solicitor yet, make sure you pay them by bankers draft or electronic transfer, don't take in a personal cheque, it will need to clear before the solicitor is able to exchange.