Is this realistic timing for a house move?

united4ever

Sorry if some of my question below are a bit naive, just a bit unfamiliar with this moving game.

In the process of a move. My fixed mortgage ends on 31st October so I cannot move (and finish my mortgage until 1st November). The Estate Agent for the flat has informed me that my buyer wants to move in as soon as possible after the 1st of November. He asked if November 5th was ok (this is the Monday, The 1st is the Thursday).

Bearing in mind I would like to have both my current and new house available for a couple of days to move stuff does this sound feasible. I don't want to be homeless with all my possessions for an odd day.

I will try to establish with the seller if I can have the keys for my house ASAP from 1st November.

So is it feasible for all the money to be transferred on the 1st Novemeber and then I get the keys for my new place on the 1st November and can move out of my old place on 5th November. In this case, I understand I can exchange contracts anytime and this will have a completion date set of November 5th?

Effectively from Nov 2nd to Nov 5th although I will have received the money for my old flat I will still have access to it until 5th. Is this right?

One more thing, my current flat is shared ownership, so the solicitor effectively has to staircase me to 100% before paying off the mortgage - so maybe a bit more complicated than normal.

Thanks in advance

gazareth

Do you need the money from the sale of your current place to buy your new place?

If so you will need to complete your sale and purchase on the same day and you will almost certainly be required to vacate your current property at that moment.

picklepick

You cannot have received money for your flat and still live there. Why would your buyer allow that?

You complete on the day the money is transfered. On that day you move out and hand over your keys.

united4ever

Yes I do need the money from the sale of my old place to buy the new one.

I see, so I need to wake up the day that the money is transferred and once I get the call from my solicitor I go pick up the keys for the new place and physically move everything and then vacate my old place by the end of the same day and leave the keys to my old place with the solicitor.

I didn't realise this was the normal process, it will be a mad day no doubt.

jbainbridge

No ... it's better than that.

You pack up all your stuff and move it out the house. Drop the keys for the old house off. Then collect your new keys and move your stuff in!

Grimbal

jbainbridge wrote: »

No ... it's better than that.

You pack up all your stuff and move it out the house. Drop the keys for the old house off. Then collect your new keys and move your stuff in!

yup, it'll be a great day ! remember you have to be out at the time the money arrives from your buyer


Our sale completed at 9:00, we got the call at 9:15, and a sharp intake of breath from the solicitor at 9:16 when we said that we'd leave at 9:30 as we still had the kitchen floor to clean.....

picklepick

Usually what happens on completion day is...

Your removal company will pack all your things into the van, once you're out (lunchtimeish) you drop your keys at the estate agent/solicitor or your buyers meet you there (whatever you have pre-arranged). Usually they will want to move their stuff in that day aswell, so leaving it til evening to hand over your keys won't work! Unless your buyers are FTB's and they have a few days to move their stuff. Check first.
At some point you'll get confirmation that completion has taken place and funds have transfered. Then off you go to your new house. You pick your keys up from wherever you've pre-arranged and hopefully the previous owners have finished moving their stuff out by the time you turn up!

It is hectic but if everyone is up early and on the case with removals you can be in by early afternoon. We were out of our last house at 11 and fully moved into our new one by 1 last time we moved.

jackomdj

jbainbridge wrote: »

No ... it's better than that.

You pack up all your stuff and move it out the house. Drop the keys for the old house off. Then collect your new keys and move your stuff in!

Or

You pack up all your stuff and move it out the house. Drop the keys for the old house off. Find that the people you are buying from did not read this forum, they have a little van and at the rate they are going they will still be at it for several more days. So you put all your boxes in one room (the boxes you carefully labeled so they go into the right room), then help them load your van with their stuff, drive it to their new house (which involves a ferry trip) help them unpack and come back to your new house too tired to do much more.... Forgot to add when you first arrive the wife is still getting the fish out of the tank, dripping water all over YOUR carpet!

Lovelyjoolz

united4ever wrote: »

Yes I do need the money from the sale of my old place to buy the new one.

I see, so I need to wake up the day that the money is transferred and once I get the call from my solicitor I go pick up the keys for the new place and physically move everything and then vacate my old place by the end of the same day and leave the keys to my old place with the solicitor.

I didn't realise this was the normal process, it will be a mad day no doubt.

No. NOT by the end of the same day. But by the time the money is transferred. Usually this is around midday, but as Grimbal said, it can be as soon as the banks open.

Speak with your solicitor and find out what time you have to be out and make sure you are completely out and have handed over the keys before that time passes.

Leew1231

Moving day is mad!! I bought a new house, was told good to go, then about 3pm nearly finished the Site Manager told us the sale hadn't gone through properly as the person who were buying our house from the builder (it was a part exchange) hadn't correctly signed a contract.
Luckily he sympathised and didn't chuck us out contrary to what he was told by head office and we were ok in the end.