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Completion Day
ironmanjason
Posts: 135 Forumite
Hi..
Buying our first property and today is completion!:j
I have received confirmation from my solicitors at 9.30 AM to say that they have transferred the monies to the sellers solicitors. There is no chain involved.. any idea how long before the funds are cleared? The sellers have vacated on friday and handed in the keys to the EA so finding it a bit annoying to sit at work thinking when I would receive the call to collect the keys!
Buying our first property and today is completion!:j
I have received confirmation from my solicitors at 9.30 AM to say that they have transferred the monies to the sellers solicitors. There is no chain involved.. any idea how long before the funds are cleared? The sellers have vacated on friday and handed in the keys to the EA so finding it a bit annoying to sit at work thinking when I would receive the call to collect the keys!
Make £2019 in 2019 Challenge - £272.48/£2019
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Comments
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Ask the agent to ring the vendor's solicitor to ask for key release.
If no-one asks the solicitor's accountant to check, they might not bother much on a Monday.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.0 -
When I bought my first property it was around 12:00/12:300
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kingstreet wrote: »Ask the agent to ring the vendor's solicitor to ask for key release.
If no-one asks the solicitor's accountant to check, they might not bother much on a Monday.
Yeah I asked them to do that.. fingers crossed! Sellers solicitors were never proactive and we had to postpone exchange beacuse of them!
Make £2019 in 2019 Challenge - £272.48/£20190 -
The actual bank transfer is instant(ish) but there are humans involved at either end - your solicitor may have to get the transfer countersigned by someone else, their cashier than has to key it into their banking system, the receiving solicitors' cashier has to notice that money has popped into their account, they then figure out who it's for and contact the relevant person, who might be in the middle of a phone call / meeting / interesting sandwich and after then should contact the agent to authorise release of keys. And that's assuming they are actually ready to complete and not still waiting for a signed deed / redemption statement etc.0
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Just got a confirmation that they have received the funds and I am now going to go collect my keys
Make £2019 in 2019 Challenge - £272.48/£20190
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