what happens on completion day?

Seanymph

I haven't even exchanged yet - so I'm a bit premature, but I wondered what sort of time you get the keys to the place you are going to move to?

What happens on 'completion day'?

Gwhiz

You get a call from solicitor telling you all monies have been received and then you go pick up the keys and move in

Typically it's around lunchtime to give the people moving out time to go BUT it really could be anytime.

Seanymph

Thankyou. Presumably the 'higher' you are up the chain the later you get to move?

tristinh

Or like our stupid solicitor on completion day - she transferred the funds to the vendors solicitor and he called to ask what it was for - we hadn't even exchanged but she had confirmed the completion date with us in writing!!! She very quickly took the money back and the vendors solicitor sent his clerk running round a golf course to find the vendor to sign the contract!! Needless to say we exchanged and completed on the Monday, but the vendor said we could have the keys over the weekend any way!! Well.... I guess he knew we were good for the money - and me sitting crying in the EAs probably helped!!

Needless to say we weren't happy!!

Sorry OP, I went off on a tangent... yes you just have to sit and wait for the call to say you can pick up the keys, and the transactions take place in succession!

Seanymph

blimey... and there was me looking forward to completion day, sounds like it's just something else that can go wrong.

southerngirl_2

I was a FTB and completed earlier in the year. Completion nearly didn't happen on the agreed day - mortgage funds left bank at 10.15am however my solicitor didn't receive the funds until 3.30pm which was cutting it very fine getting the funds to the sellers solicitor and then onto the next people up the chain. I was stung for a few hundred pounds due to late completion as the people further up the chain incurred costs and passed it down. Don't know how frequently this occurs. Everything all settled okay but in hindsight if it's possible I'd ask my solicitor to request the mortgage funds the day before.

Seanymph

thanks SG. We are a small chain - the guy buying mine is having a mortgage and not moving in yet, and indeed we are completing on a friday and he won't get possession until saturday night by agreement.

We are then using his money to pay for the one we are buying and they are using my money to buy their house - that man is moving into his parents.

So I guess if he doesn't get his money organised then we are all in for a long day...

timmyt

I send my buying clients money to the seller at 8.45am sharp - as I get the mortgage monies the day before so I can be this efficient for my clients on the morning of their move - and usually the Selling lawyer holds it until their client is out....so in their hands but usually 11am. Then then authorise the Agents to let you have the keys.

I cannot send it as early as 8.45am if I am reliant on proceeds from my clients sale though, and so these go instantly I receive them in.

good luck OP

pleasedelete

Gosh I have bought 11 houses. No completion date has ever been the same. Only new build whet we got keys from sales office was straight forward.

Twice we haven't got the keys on the day as they hadn't moved out. Once we had to ask a crying family to leave. Once they insisted on cleaning the house first. It was 11 at night before they finished.

We have collected keys from agents, solicitors, from tne seller and once they just left the house open.

We once moved into a house we didn't own as the funds hadn't been transferred due to a building society error. The people selling were fine about it.

pleasedelete

But not as good as friends of ours who arrived at new home to find 2 Doberman dogs.

The last owners just left them. Luckily they moved in that day. Dogs were in the dining room.

celyn90

:eek::eek::eek: What did they do with the dogs??

We exchanged and completed on the same day; I had a message on my phone from the solicitor saying that they were good to go if we wanted to call them back. Picked the keys up at about 3 pm Wasn't expecting it at all. cel x