We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Simultaneous exchange and completion - why?

Options

Comments

saajan_12 Posts: 5,010 Forumite

16 March 2017 at 12:11PM

cloo wrote: »

I suspect it's misunderstanding/over caution, although I'm not sure it actually makes a difference to risk whether it's immediate or not - in the very rare cases when a buyer exchanges but then can't pay up I don't see how it could make any difference whether they can't pay up on the same day as exchange or if they can't several weeks later.

Assuming at the point of exchange, you're sure you will have the funds in place, there's less likelyhood of that changing within the same day vs over a month.. say if the lender withdrew the offer / lost job / unable to pull funds from another investment etc.

0