Exchange and complete on same day? ('normal' purchase)

StuC75

Would Advise AGAINST exchange and complete on the same day. as thats an All or nothing result. Best to have a day or two in between its a calmer experience - believe me!.

Upon exchange you are committed - and should have buildings & contents insurance in place. on the day of completion you are then just waiting for the nod to pick up keys when funds have transferred.

If any delay happens in that then someone is responsible (and possible punishment for not completing). Its an All or nothing scenario..

In my case - 1st attempt was to exchange & complete same day. We had moving van booked and ready to move (with a 6wk old baby).

Our buyer (cash) hadnt cleared funds intime so we were unable to E&C.. But although he was at fault, he wasnt liable for any costs as no exchange had taken place.. So we wasted a days holiday and money on removal van..

We then exchanged the tuesday after when his funds had cleared with solicitor, with a completion date that friday.. much safer in the knowledge that if he did mess it up again - he would be liable..

so in your case, give notice upon exchange, know that little can go wrong of your accord.. even just completion date can be a case of waiting for funds to clear through and the ok to be given.. so can be best to just take 1 step out of that process..