Why exchange and complete on same day?

Doozergirl

Why can't you exchange and complete when you are on holiday? You don't need to be there

sleepymans

Meter readings, Handing over keys,cleaning, taking down curtains, Dealing with the finances are the practical reasons I dont want to exchange and complete whilst away on holiday.

Emotionally, I want to go away and enjoy this measly one week of the year holiday with all this business settled and completed. I cannot imagine having a will they/wont they conversation running in my head all week.

I havent sold a house for 8 years and it seems even worse now than it was 8 yrs ago. The seller seems to be powerless in the arrangements!!

I'm thinking of threatening to pull out as prices have risen in that area since I put the house on the market 6 months ago. I might get £more for it now.

System

sleepymans wrote: »

p.s. It'll be a Nat West mortgage - what are they like?

That's who mine is with. Was due to complete on a Friday, solicitor asked for money for the Thursday, Natwest sent it through on the Wednesday. We therefore completed on the Thursday as my solicitor didn't like money hanging around in his client account.

sleepymans

Thanks !!!!!! (or should I say tribal chief?)
I also believe Nat West to be efficient enough to get funds through in time for 21st Sept. That date was chosen by the buyer (I had wanted 14th so's NOT to clash with my holiday) I agreed to 21st for the buyers convenience - now they pull this exchange/complete same day !!!! on me.

Richard_Webster

I wouldn't normally reckon Nat West to be one of the difficult ones!

roosterbean

Hi richard, I'm due to exchange/complete next Friday, can you tell me what the Chelsea B/s and Halifax are like please? I know our purchaser's solicitor has already asked for monies from Chelsea so it gets here on time (does that mean they are not too reliable?), and my solicitor is not requesting our funds until next week....

Richard_Webster

Halifax is usually pretty good. It's all done at their head office in Halifax but you normally can get through to someone who will deal with the issue and they try to be helpful. If there is a technical problem and they have to issue a revised offer they do that and send the money at the same time. I had one recently where the revised offer arrived after we completed - it was only a at technicality over my clients' full names...

They normally send the money by BACS so if it isn't requested on say Monday to come on Thursday/Friday they might want to charge £30 for sending by CHAPs.

By the way next week it won't be Halifax any more - Halifax is stopping doing ANY mortgage lending - it will be Bank of Scotland - Halifax Division! This is only a technical change - it won't look any different to you - for some time "real" Bank of Scotland Mortgage offers have been coming out from Halifax in the same format as Halifax offers but just a different brand label at the top!

sleepymans

In view of my solicitor and my preference to exchange a week before completion, yesterday my solicitor promised he would exchange contracts today and call my partner when it was done.
As it was reaching 4pm and we'd heard nothing, we've just rung only to be told my solicitor is out today and his secretary isnt there either, no one else knows anything about our sale, of course!

I'm expected to PAY for service like this?????

Furious it is that I am.

Wig

If you are not going on holiday (hypothetically) is there any advantage to exchanging one week early before completion?

sleepymans

Yes I am going on holiday, thats why I wanted to complete tomorrow. The buyer preferred 21st even though inconvenient to me I agreed as long as we exchanged this week.
Naturally I would prefer to have sold months ago so the sooner the better.
I want a legal commitment for gods sake so I can get on with my life plan to do the hand over stuff and go on a long awaited holiday with all the hassle behind me.
(Not to mentions all those lovely proceeds tucked up safely in the bank.:D)

Well perhaps we'll exchange tomorrow (If I had a pound for every time I've said that............)