Completion Statement - should I have it by now?

goldbyron

Hi,

I exchanged last Thursday and am completing next Thursday. There is no sign of any completion statement as yet - should I expect it today as I need to directly go to the bank to transfer the money via BACS and don't want to leave it until the last minute. I have e-mailed my sol last night to ask if possible to have it by the end of today - is this unreasonable?

firstaspect

I got the completion statement about a week before completion, a couple of days after exchange.
I'd recommend using CHAPS rather than BACS, it may cost £20-£25 but means the money will be transfered that day rather than running the risk of a BACS payment which can in some cases take up to 5 days.

goldbyron

Thanks - I get a bit confused with BACS/CHAPS but will use the quickest method. I have also received the statement this afternoon and fortunately my calculations were slight over estimates so I can breath a sigh of relief!

timmyt

goldbyron wrote: »

Hi,

I exchanged last Thursday and am completing next Thursday. There is no sign of any completion statement as yet - should I expect it today what!!?? Your conveyancer is rubbish. Never heard of a conveyancer who does not send out a financial statement before exchnage, as you may not believe it, but some clients fail to work out whether they can afford a property right up to when the lawyer sets it all out (purchase price less mortgage plus legal fees....oops I forgot about stamp duty etc) ....worse on a sale, if a conveyancer leaves preparing one until after exchnage, then he could face negative equity and he could be sued by the client as I need to directly go to the bank to transfer the money via BACS CHAPS, not BACS, BACS takes 3 working days or more, and so just as bad as a cheque. Always use CHAPS and make sure your bank guarantees it will get to wherer you want it when you want it to and don't want to leave it until the last minute. I have e-mailed my sol last night to ask if possible to have it by the end of today - is this unreasonable?

You are quite reasonable, he is sooolate in doing it and now it is a pain for you so much you are posting on MSE!