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How long to exchange after searches etc?
rachel1604
Posts: 4 Newbie
Hi all,
Long time lurker but first time poster.
We are FTBs - put offer in end of march, which was accepted same day. Had survey and all searches back a while ago, and no further queries raised. The house is from a deceased estate and we have been waiting for grant of probate to come through before we could exchange. The house is empty, we have our mortgage offer with the solicitor, and as we are currently living with my family we have nothing to hold us back.
Our solicitor told us yesterday (late afternoon) that all documents, draft contact etc had been received yesterday, and that on Thursday we could potentially arrange dates for exchange and completion (he's on annual leave today unfortunately so couldn't arrange it today!)
As all documentation has been received and said to look OK (although I'm not sure it's been fully reviewed), I was wondering if anyone could give an estimate of how long it would take to process to exchange/completion? We had really wanted to complete next Friday (24th) as it's the bank holiday weekend. Would you think this is a possible timescale at all?
The only thing I know that could be a problem is that it will take one week to release the mortgage funds to the solicitor, but if we suggested 24th as completion date, the solicitor could potentially request the funds this friday (17th) to arrive by 24th?
Thanks in advance for any help!
Long time lurker but first time poster.
We are FTBs - put offer in end of march, which was accepted same day. Had survey and all searches back a while ago, and no further queries raised. The house is from a deceased estate and we have been waiting for grant of probate to come through before we could exchange. The house is empty, we have our mortgage offer with the solicitor, and as we are currently living with my family we have nothing to hold us back.
Our solicitor told us yesterday (late afternoon) that all documents, draft contact etc had been received yesterday, and that on Thursday we could potentially arrange dates for exchange and completion (he's on annual leave today unfortunately so couldn't arrange it today!)
As all documentation has been received and said to look OK (although I'm not sure it's been fully reviewed), I was wondering if anyone could give an estimate of how long it would take to process to exchange/completion? We had really wanted to complete next Friday (24th) as it's the bank holiday weekend. Would you think this is a possible timescale at all?
The only thing I know that could be a problem is that it will take one week to release the mortgage funds to the solicitor, but if we suggested 24th as completion date, the solicitor could potentially request the funds this friday (17th) to arrive by 24th?
Thanks in advance for any help!
0
Comments
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Put that suggestion to your solicitor then.
Are you sure you want to move bank holiday Friday?
* Do you need a removal company? They are always busier on Fridays, and BH.....! Can you arrange? Might cost less mid-week too.
* In the unlikely event of a delay on Completion (eg funds arrive late), it can't be sorted out till the following Tuesday - would you be homeless? Would your sellers?0 -
As the house is empty and we are with family, no-one would be homeless should there be a delay. Not hiring removal company as we are currently living very close to new house and don't have much stuff. Just trying to understand if that's too optimistic a time scale0
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Have you actually seen all the documentation e.g. search results, LR report, property information form, fixtures & contents form?
You really need to check these yourself in case you spot anything the solicitor wouldn't realise was important.0
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