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Exchange and completion on same day..good idea?
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My son's flat purchase had exchange and completion on the same day, but he was living with us and the flat had been empty for two years. He was quite happy to do this but I can understand there could be problems if there was a achain and people actually had to move out.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
EA probably on a bonus for pushing things through to completion by a certain datethanks for all of your replies.
Spoke to Estate Agent today who says it's pretty standard to do it all on one day *sigh*
Exchange and completion are dates which are agreed on between the vendor and the seller ( & their solicitors) Unless it has been made a condition of sale, tell the EA that E& C on the same day is not how you wish to proceed. Get your solicitor to make appropriate suggestions for dates, in writing.
We've done it on the same day (only the once) and would avoid doing so ever again.0 -
The danger is that the buyer tries to drop the price, just when you have all your worldly goods packed in the van ready to go. Or the seller announces they want to take the cooker/ carpet with them at the last minute. Then it is a game of who blinks first.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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