Completion Advice needed

cross_lips

After a couple of very stressful days, I am led to believe that I shall be (well in theory) completing on wednesday .

I know there are previous posts on completion etc but as my solicitor has not said anything to me about completion day itself. can anyone tell me do you recieve a telephone call to say that you are able to collect the keys from the estate agent????? and is there usually a set time as to when you can get the keys.

As a FTB I am not entirely sure how the process goes on the actual day. All I know is i am going to be in the area anyway which is not local to where I currently am so it is going to be a very long day.

maninthestreet

Yes, you normally receive a phone call from your solicitor to state that the sale has been completed. There is no set time of the day this happens - it can't happen before the vendor's solicitor has received the money for the sale from your solicitor.

Kizzy001

your solicitors should confirm the date which they would like to complete on and make sure you are happy with it.

I think you ought to be calling your solicitors and ask for an update. you are after all paying him.

The time of completion depends on how long the chain is, if its a short chain then usually before 12pm. Also depends on which formula they are using. - ring them and find out.

Scaredy_Cat_3

Just to add my twopenneth, we completed last Wednesday. The solicitors advised us that it all depends on how quickly the banks move the money around. For example, when they receive the money from the sale of our old house, they then send it on to the solicitors acting for the people selling our new house (if you see what I mean). They said usually it all goes through about lunch-time, but sometimes can be later in the day.

Technically they won't release the keys until they have received the funds, although our solicitor did imply that sometimes keys might be released before funds are actually received.

We had to hand in the keys to our old house at the Estate Agents for them to pass on to the buyers. On completion day we received a phonecall from the Estate Agent acting for the sellers of our new house, to say we could collect the keys. We received the phonecall at about 2.30pm, but when we arrived at the house (removal van and all) at about 3pm, the old people hadn't actually finished moving out! Nothing to do with your question, I know, but I just thought I'd mention that we had the removal men sitting outside our new house for an hour twiddling their thumbs while we waited for the other people to leave! All costs money as the removal company was charging by the hour!

Best of luck next week. I hope your move goes better than ours did!

mobilejo

The completion time will set out in the contract ask your Sol what it is. Norm is 2pm but could be 12pm or 1pm. Thats the deadline time for the money to reach the Seller's Sol.

If it gets there before the completion time, the Agent should phone you (after being notified by the Seller's Sol) and tell you you can get the keys.

If you end up not being able to get into your new house after the Completion time, (Like Scaredy Cat) and the money was received on time, get you Sol to serve a Notice to Complete on the Sellers Sol. It will allow you to claim damages for paying the delivery men for the extra time etc. etc. - if they cough up that is.

cross_lips

Thankyou so much for the information that you have all given me it is appreciated. I really do hope it all goes well it has been such a headache to say the least. We was actually due to complete on the 30th but the top of the chain decided that the date was unacceptable as they are going away (Not to mention that initally the 30th was known for two weeks prior)so this meant that the date was brought down to the 28th. Only sent the deposit and payment of solicitors funds by CHAPS today and we have not even exchanged yet !!!!.

I so hope there will be no more problems .... Yes I shall take your advice and phone my solicitor tomorrow to get an update and book the removal van which i have not been able to do yet providing I get the results I need. it is a very :eek: time and did not help when I was told by the bank yesterday that they usually like to have 5 working days notice so to ensure that the funds are waiting the night before completion...

Wonder how this is gonna work :rolleyes: