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Exchange & complete on same day ?
Bella79
Posts: 1,197 Forumite
Hi all after being in the chain from hell ! the bottom of the chain (1st time buyer) has finally decided to go ahead but because its short notice the whole chain wants to exchange and complete on same day is this a good idea?
Can any problems come from this ?
im new to house moving so any help please also we are the top of the chain buying a jst built house so will it be late in afternoon when we get our keys ?
thankyou
Can any problems come from this ?
im new to house moving so any help please also we are the top of the chain buying a jst built house so will it be late in afternoon when we get our keys ?
thankyou
0
Comments
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We exchanged and completed on the same day and there weren't any problems, but it was a very short chain.Loving the dtd thread. x0
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If you need a mortgage, your solicitor will have to call for the whole amount due a few days before you have exchanged. If the transaction falls through, you will then have to pay interest on the whole amount of the mortgage for the time it sits in your solicitors bank account. Someone posted about this on the board very recently, and had been charged I think £350.
Also you could be all packed up, with removers waiting and not exchange on the day you expect, so end up paying moving and storage costs for a day or two.
Ditto, and the whole thing could collapse, and you'd have to unpack everything!
If you have any choice at all, I'd have at least a few days between exchange and completion to lessen the risks and the worry and uncertainty0 -
quite often ftb need to x/c and complete on same day due to get a 100% mortgage
i would not reccomend in doing this with a long chain especially on a friday'
once the solicitor closes thats it for a whole weekend :eek::beer: :j OFFICIAL DFW NERD NO 159 PROUD TO BE DEALING WITH OUR DEBTS:beer: :j
If you do a job well, people won't be sure you've done anything at all :rolleyes:
Must claim back bank charges!!!:rolleyes:0
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