exchange / completion q

clairet707

At the moment we are aiming to exchange and complete on same day on 7th May

All solicitor side of stuff is progressing, mortgage is sorted etc

Though I have a quick question which I couldnt see elsewhere on here


How does it work with simultaneous exc / comp and insurance and utitlities etc

Last time we bought there was a week between the two so we could arrange all that sort of thing in that week but this time it will be on the same day (well fingers crossed)


Oh and another one - when do we get the fixtures and fittings list - we cant remember from last time (it was over 4 years ago)

Yorkie1

I'd be pushing for the F&F form asap - you need to know whether there's anything significant omitted from it which might impact on your decision to proceed / the price / to be negotiated.

Don't know about the rest, sorry

seabright

You can tell the utilities in advance of the date you will be moving in - although you may find they'll mess up if you subsequently give them a revised date.

The F&F should be part of your Report on Title, which you should get when your solicitor sends you the contract, transfer and legal charge to sign.

Why are you aiming to exchange and complete on the same day? In my experience it's rarely necassary and causes more anxiety and grief for everyone involved, as it's possible it could all fall though right up to and including the say you're supposed to move.

I'd recommend that if you don't have a realy good reason for simutaneous exchange and completion, you don't do it. It's hard enough work with a week in between. Give yourself a bit less stress.

Welsh_Totster

Totally agree with seabright. We recently ended up exchanging and completing at the same time due to our buyers people messing up yet again and stalling on exchange (Countrywide, say no more) It was the most stressful day of my life, the whole house was packed into the removals lorries and they had no where to go, except into storage over night as the exchange and completion happened too late in the day for them to get to the new house and unpack in daylight. Avoid if you can.

As for utilities, when we left our old place I phoned up the utilities to give them all final meter readings and the day after we had the keys to the new place (the day the removals company actually moved our stuff in) I phoned the utilitie of the new place to tell them we had moved in and to put us on the bills. no stress involved there.

m_curiousity

I think legally you have to have buildings insurance in place by the time you exchange, but contents is optional so theres no rule about that.

Also with utilities I would imagine its up to you when you sort them out, but make sure you let the companies know the day you move in otherwise you may be paying for services you havent used!

clairet707

Thanks all..

Mainly because we are currently in rented and our landlady gave us notice before we had sorted out moving ourselves becuase she got a hint of a rumour we were moving (we werent going to give notice ourselves till we had exchanged) and our notice ends on 16th May

As its not far between new house and current house we are going to move ourselves hiring a van over the weekend (I cant afford to take more time off work) and we need to clean rented house before we give keys back.. So we thought exchange / complete on same day would solve this problem, giving us a bit of time to do a few bits and pieces to new place before we are in properly.

The new house is currently empty so there wont be an issue waiting for current owners to move out first


Oh and also if the purchase does fall through it gives us a week to find somewhere else to live (or dump everything into storage) before we need to vacate rented place