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When do you officially own the house?

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  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Jones80 wrote: »
    So this guy (as nice as he is), has no right to still have a set of keys and be there in the house, in the afternoon?

    Correct. There should be a specific term in the contract stating that he/they should deliver up all keys when completion has taken place. There is in Scots contracts (missives)
  • zagubov
    zagubov Posts: 17,938 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    When we bought our first house, our vendors had totally underestimated the time needed to move out. They stored some stuff in the garage and by mutual agreement came and took it away at a later date. Keys weren't involved.

    We'd worked out how honest and trustworthy they were. Thinking about it at a later date, at that point we were moving from rented to owned accommodation. Moving from owned property to new property we'd possibly be more concerned now.
    There is no honour to be had in not knowing a thing that can be known - Danny Baker
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    bring a box of lightbulbs and bog roll too
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • kingstreet
    kingstreet Posts: 39,258 Forumite
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    emmatthews wrote: »
    You own the house once your Solicitor has told you that you have completed.
    All your solicitor can do is say he/she has sent the funds.

    Key release is notified by vendor's solicitor on receipt of funds.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    Disregarding the official position, are you actually moving in on completion day? If you are then you'll need as much time as you can get, so if you own the house at 1pm the seller should be out no later than that. But if you're just collecting keys you can afford to be more flexible, just make sure that you go to the house once you know the seller has left to make sure everything that you expect to be there is there, take meter readings, and lock up (you might even want to change the locks then as G_M recommends).
  • jimbog
    jimbog Posts: 2,256 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You could say six o'clock is fine but you'll be moving a few bits and pieces in as soon as you get the keys
    Gather ye rosebuds while ye may
  • HiToAll
    HiToAll Posts: 1,297 Forumite
    In about 25 years when you make the last mortgage payment
  • VALM
    VALM Posts: 5,954 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Jones80 wrote: »
    Do you fully 100% own the house when you pick the keys up from the solicitors/estate agent?

    I ask, because I'm set to pick the keys up on a house at 1pm and the seller has said (on a call to me) to come to the house for 6pm as he has some bits to finish moving out.

    Ask your Solicitor what time was entered on the Contract. If the Seller can't give you vacant possession by that time he is in breach of Contract.
    Back for the No Buying Toiletries challenge. I pledge to only buy when I run out of a product that is not already in my stash no matter what wonderful emails land in in my Inbox or threads I read on MSE re: glitches!

    SPC Member 046
    £2. Challenge member 55
  • G_M
    G_M Posts: 51,977 Forumite
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    VALM wrote: »
    Ask your Solicitor what time was entered on the Contract. If the Seller can't give you vacant possession by that time he is in breach of Contract.
    Or simply read the contract you signed......?
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