What to do on completion day (FTB)

SternMusik

Long time lurker, first time poster here. I am due to complete on my very first property purchase on Friday. I will move house a week later.

My question is, what is going to happen/ what is recommended that I do on completion day (other than picking up the keys of course)? What sort of communication can I expect from my solicitor and the bank on the day?

This is the to-do list I have come up with so far:
- Call utility companies to set up accounts in my name
- Call the council regarding council tax and electoral roll. (Am I right in expecting that my council tax liability starts on the day of completion, and not when I move in a week later?)
- Call home insurance company to confirm moving in date (cover started on the day of exchange)
- Change the locks on the doors? (Do people generally do this?) Is it possible to change garage door locks as well?


Any advice would be appreciated.

G_M

SternMusik wrote: »

What sort of communication can I expect from my solicitor and the bank on the day? Confirmation (any time from midday on) that Completion has taken place.
Confirmation that keys are released at whatever location has been agreed (estate agent?)

This is the to-do list I have come up with so far:
- Call utility companies to set up accounts in my name and cancel where you are now. Read /record all meters.
- Call the council regarding council tax and electoral roll. (Am I right in expecting that my council tax liability starts on the day of completion, and not when I move in a week later?) Yes, but this can be done any time in the next few days or more as long as you provide the Completion date
- Call home insurance company to confirm moving in date (cover started on the day of exchange) Reuired? Will do no harm.
- Change the locks on the doors? (Do people generally do this?) Is it possible to change garage door locks as well? Yes, yes an YES

.

Google " house moving process" or "Completion day checklist" or similar for lots of 'to do' lists on the internt

SternMusik

Thanks a lot, G_M, that's very helpful!

Thrugelmir

Be prepared for a frustrating day.

You may not receive the keys until late in the day.

DVardysShadow

SternMusik wrote: »

... This is the to-do list I have come up with so far:
- Call utility companies to set up accounts in my name

....

Not so much set up accounts. Establish who are the suppliers beforehand if you can, but personally, I would not set the accounts up until after I was moved in, because they might put you down as account holder too early.

On the day, you may be too busy to hang around in call centre queues, so you may need to do it another day.

The really important thing is to take meter readings as your first action once you have opened the door - and keep a note of those readings very carefully.

If you can get access to the house beforehand on a viewing, make sure you know where the meters are and whether you know how to read them. And make sure you know how to read them by the time you move in.

Also, if it is a flat, you may find that you don't have control over access to the meters. Make sure you know how to get the meters read and make sure you have access on the day. Also with a flat, you need to check that the meter is actually metering your consumption, not someone else's - this is very common with flats - and not unknown for houses with water meters in the street.

SternMusik

Thrugelmir wrote: »

Be prepared for a frustrating day.

You may not receive the keys until late in the day.

Thanks for this. Good to know that nothing is likely to happen in the morning. I am in a very short chain (I am FTB and the vendor is buying an empty conversion).

On that topic, can someone explain to me how this chain thing works on completion day? I am thinking (possibly rather naively) that, as I am at the bottom of the chain, my deposit + mortgage monies are wired to the vendor's solicitor first thing, which means me and the vendor complete on the transaction. Next, the vendor's solicitor wires her monies to her vendor's solicitors. So, potentially, me and the vendor could complete early(ish) in the day? And she could then complete later in the day on her own purchase?

Or is it the case that everyone completes at a given time, say 12 o'clock? :huh: Am a bit confused.

SternMusik

DVardysShadow wrote: »

The really important thing is to take meter readings as your first action once you have opened the door - and keep a note of those readings very carefully.

Many thanks for the advice - I shall take care of the meter readings first thing. I tend to take pictures of meter readings with my camera phone - it once helped me settle an argument over my electricity bill.

DVardysShadow wrote: »

If you can get access to the house beforehand on a viewing, make sure you know where the meters are and whether you know how to read them. And make sure you know how to read them by the time you move in.

It is a house, and I know where all the meters are. Gas and electric are outside, housed in little plastic units. I need to get hold of an allen key or something to open them I think.

The water meter is sitated in the driveway, covered by a metal plate. Will have to find out how to read that one before Friday.

big5

SternMusik wrote: »

I am thinking (possibly rather naively) that, as I am at the bottom of the chain, my deposit + mortgage monies are wired to the vendor's solicitor first thing, which means me and the vendor complete on the transaction. Next, the vendor's solicitor wires her monies to her vendor's solicitors. So, potentially, me and the vendor could complete early(ish) in the day? And she could then complete later in the day on her own purchase?

Or is it the case that everyone completes at a given time, say 12 o'clock? :huh: Am a bit confused.

You've got the theory right - the money moves up the chain so you will complete first. The timings will depend on how quickly the money is moved and how quickly the solicitors communicate to everyone. Also, your vendor will have signed a contract which states they must have vacated the property by a certain time (possibly 12), so completion is unlikely to happen before this.

SternMusik

big5 wrote: »

You've got the theory right - the money moves up the chain so you will complete first. The timings will depend on how quickly the money is moved and how quickly the solicitors communicate to everyone. Also, your vendor will have signed a contract which states they must have vacated the property by a certain time (possibly 12), so completion is unlikely to happen before this.

Many thanks for the clarification, very helpful. Bring on Friday! Looking forward to getting the keys to my first house :j

bobula

Re metre readings - esp with new ones to you its always worth taking a photograph of the meters - saved me once in a rental property !

roger196

DVardysShadow wrote: »

Also, if it is a flat, you may find that you don't have control over access to the meters. Make sure you know how to get the meters read and make sure you have access on the day. t.

Gas Regs 1998
Meter housings

13.—
(3) No person shall install a meter in a meter box provided with a lock, unless the consumer has been provided with a suitably labelled key to that lock.
(4) No person shall install a meter within a meter compound which is capable of being secured unless the consumer has been provided with a suitably labelled key for that compound.

Also essential to find out where the emergency control valve for the gas is, where the water st0pcock is and the fusebox.