When did you find out your completion date?

G_M

'Exchange of contracts' is when the sale becomes legally binding (ie the contract between to two parties is..... er.... exchanged).

The contract specifies many things, but most importantly it states

* how much will be paid
* when it will be paid and
* when the property will become owned by the buyer ('Completion').

As said above, only with new builds is the final Completion date left open pending the building work finishing.

jibbyboo

arbrighton wrote: »

Completely wrong.
Exchange of contracts cannot be done until completion date is agreed (as it's part of exchange to agree that date so that measures can be taken if it doesn't happen ).
You may need to do a little more reading before you actually get to this point with the house you are buying...

I'm sure my solicitor will keep me on track.

Building_Surveyor

i exchanged and completed on the same day.

arbrighton

jibbyboo wrote: »

I'm sure my solicitor will keep me on track.

That isn't actually their job..... Given you're committing to either spending hundreds of thousands or indebting yourself to that amount with a mortgage, having a clue what's happening would be wise

jibbyboo

arbrighton wrote: »

That isn't actually their job..... Given you're committing to either spending hundreds of thousands or indebting yourself to that amount with a mortgage, having a clue what's happening would be wise

That's an unpleasant way of addressing me.

googler

arbrighton wrote: »

That isn't actually their job..... Given you're committing to either spending hundreds of thousands or indebting yourself to that amount with a mortgage, having a clue what's happening would be wise

By that logic, you seem to be suggesting that anyone hiring an accountant should be familiar with the mechanics of doing their own books ....

theGrinch

just before exchange. for us it was part of the negotiation before exchange.

arbrighton

googler wrote: »

By that logic, you seem to be suggesting that anyone hiring an accountant should be familiar with the mechanics of doing their own books ....

Fair point.
But actually, I would have a clue what I was asking an accountant to do and would still check what they were doing on my behalf.

arbrighton

jibbyboo wrote: »

That's an unpleasant way of addressing me.

Perhaps could have phrased it better yes

jibbyboo

I think the number of questions posted on this forum demonstrates a universal ignorance of the home buying process- there are so many elements and deviations that can occur. It would have been helpful at school to have classes that discuss such issues- home buying, taxes, laws etc.