Completed but don't have the keys yet

devildolly5

Hi

After some advice. We completed on a flat this morning at 10.30am. I phones the solicitor to confirm and they have told the agent to release the keys. Phoned the agent and they don't have the keys yet as the seller is still moving out as his purchase hasn't happened yet and might be another 1.5hrs.

Am I right in thinking that the property is ours now so the seller should not be there at all or is it normal for this to happen?

I am a bit worried as the seller has pushed back completion several times already and I don't want him to stay put if his move falls through.

This is a BTL so not moving in ourselves.

Thanks

Surrey_EA

It certainly wouldn't be the first time this has happened, but I would necessarily describe it as normal either.

Are you near to the property you are purchasing? Perhaps go and take a look to make sure the seller is actually in the process of vacating the property.

It is highly unusual for a purchase to fall through post exchange of contracts, so hopefully that is not likely in your case.

Ronaldo_Mconaldo

Go round and tell the intruder to get out of your house.

Landofwood

Maybe they're just doing an extra good job on the cleaning.

kingstreet

It is for the vendor's solicitor to acknowledge receipt of completion funds and authorise key release, not the purchaser's who can only confirm the funds have been sent.

Once the vendor has finished moving out they should drop the keys off at the agent's office or make an arrangement convenient to both of you to hand the keys over once they have confirmation from their solicitor the monies have been received.

devildolly5

Thanks for the quick responses. OH is driving past as we speak to make sure he is leaving.

I will check with our solicitors to see if the sellers solicitors have received the funds. Can they not authorise key release even if they have the funds?

kingstreet

It is receipt of the funds by the vendor's solicitor which triggers key release. The purchaser's solicitor can say they have sent them, but what if they are sent to the wrong account?

devildolly5

Thanks Kingstreet. We have had confirmation (just now) that the sellers solicitor has received the funds already (shortly after we sent them).

SplanK

My solicitors "Guide to selling a house" is actually quite alert about this..


It states that all those in the chain should have their houses vacant at 12, but completion can be from early in the morning to later in the evening. If it happens before, then allowances should be made where possible to allow the sellers to exit the house.


However completion could take longer, or the vendors to move out for what ever reason and that 'some slack' should be given, especially if their onward purchase has not yet completed.


However by 1430 I would be getting annoyed and starting to chase around, especially as removal firms start to charge you per hour they are waiting around if no keys are available and could even push delivery to another day if they run out of time!

devildolly5

Thanks SplanK. Appreciate that there will be some grace period but glad it wasn;t just me who thought 4-5 hours after completion is taking the mick.

Had a call form the agent and seller should be vacating in under an hour. Phew!

Just need to make sure is takes his stuff now as he already told us he is not taking any of it to his new place. I wouldn't put it past him to think that he could leave it with us!!!

SplanK

Thats good... take a long deep breath and it will be over soon!


I would however be camping outside the house.... or may even offer to help cart him out!