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What time does seller need to be out on completion day?
CATS
Posts: 286 Forumite
We have completed on our house this morning, however the EA has said that the seller needs until 2:30pm to move out. Is this ok? I was told by my solicitor that they need to be out by 12pm at the latest.
Are there any issues with them staying until 2:30pm?
Are there any issues with them staying until 2:30pm?
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Comments
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12.00 is normal, but often the fund transfer is later than that so Completion is delayed.
It's also not uncommon for sellers to be panic-packing all morning, and get delayed. Just be patient.
Your purchase has gone through. All the suspense & uncertainty is over. Sit in the local pub & Chill.
Enjoy your new home.0 -
12.00 is normal, but often the fund transfer is later than that so Completion is delayed.
It's also not uncommon for sellers to be panic-packing all morning, and get delayed. Just be patient.
Your purchase has gone through. All the suspense & uncertainty is over. Sit in the local pub & Chill.
Enjoy your new home.
Dunno about you, but my enjoyment of my new home would be somewhat spoiled if it was still occupied by its previous owners.
Delays etc do occur, but I'd be making it pretty clear that the vendors won't be getting the proceeds until they're clear of the property, and have handed all their keys over to the Estate Agent.0 -
So you instruct your solicitor not to transfer the funds till 2.30.
Solicitor is busy sorting out another (genuine) issue, so the bank transfer is set up at 3.00, missing the same-day CHAPS cut off.
Funds do not arrive with seller's solicitor till next day, so Completion is delayed and keys witheld another 24 hours. Seller's onward purchase is also delayed (lack of funds) so he can't move out (and nor can anyone else in the chain.)
The winners, of course, are all the solictitors in the chain, who can now start billing their respective clients for sorting out who owes who what compensation.........
For the sake of 2.5 hours.....0 -
It's not as easy as saying "the vendor wont be getting any of the proceeds"; they're likely to already have them.
In a chain, the bottom of the chain is first to pay, money moves up the chain through to the top who then is first to move. The first to pay, at the bottom of the chain, ends up being the last to move.
12:00, 2pm... it doesn't really matter really. Just be patient. You'll get a call from your solicitor / the EA shortly saying the keys are ready.
If it gets to COB and you're still not in that's when to start worrying I'd say. You'd then have to wait til tomorrow and get your solicitor to send the vendor a notice to complete.
I was the bottom of a chain of 3 a month ago, we heard from our solicitor that funds had been transferred in the morning, and it wasn't until like 12:30 until we had a call from the EA to say they have the keys.0 -
The time they have to be out is the time the money is transferred to them. A time you can't know. A deadline it's unlikely anybody could keep to. So long as people are making their best efforts to move on the day that's all you can ask really. In my case, my sellers took a load of broken/old furniture to the tip, to be turned away (wrong type of rubbish, wrong sort of vehicle, didn't have a license, the usual council b0ll0x that you didn't know existed until you tried to do anything). They then had a whole load of stuff to dispose of somehow, without notice, which delayed them.
I think my lot were out after 5pm, maybe close to 6pm.1 -
Given that you have Completed and Exchanged within the same day, you are placing quite a large expectation upon your sellers to mobilise so quickly. Afterall all it could have easily not happened at all today..
https://forums.moneysavingexpert.com/discussion/comment/68074984#Comment_68074984
So have a bit of decency as your sellers are likely to be very stressed at the moment; probably not with the time spare to check on a internet forum to say "When should I be out for"...0 -
We got a phone call from the solicitor at 12pm saying we could pick the keys up from the EA, got to the EA and the EA said the vendors were still cleaning and needed until 1pm and we should go for a coffee and come back later.
That hour dragged like anything :rotfl:0 -
I agree, when exchanging and completing on the same day a little more flexibility than usual needs to be given to a vendor.0
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We had completed by 12 but the seller was there until around 5pm and we were unable to collect the keys - the back door keys were dropped off the next day. The seller also collected several items the next day.
Luckily, we were in no hurry to move in and were willing to be a little flexible. The place was filthy when we did eventually get in.
Any house purchase I make in the future is going to be wonderful in comparison!0
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