Contracts received Wednesday, complete Friday?

l3mmmy

We've agreed to complete Friday but due to our signed contract getting lost in the post on the way back to the solicitors (:mad:) we're having to re-sign our contract and post it again first thing tomorrow morning. We're going to use Royal Mail's guaranteed next day before 1pm so it should get there Wednesday.

Will we still be able to exchange and complete in time for Friday?

We're FTB and they have no chain so essentially there's no chain.

I'm really starting to stress now :eek:

AdrianC

Can you take it to the solicitor's office...?

2bFrank

Whilst it is not impossible, it would be unusual for you to complete that quick. If you have a mortgage, then this will take a few days to get organised with the funds, as well as the other parties solicitors getting things in order. Id say next week would be more achievable.

That being said, Ive seen it before, where people have exchanged and completed on the same day, so it can be done.

davidmcn

You'd be best to discuss with your solicitor rather than a bunch of strangers on the internet who don't know anything about your transaction...as above, things like drawing down mortgage funds may need more notice, though if the solicitor is expecting completion on Friday they may well have already requested the funds.

eddddy

l3mmmy wrote: »

We're going to use Royal Mail's guaranteed next day before 1pm so it should get there Wednesday.

Will we still be able to exchange and complete in time for Friday?

So there shouldn't be a problem with the contract for exchanging and completing on Friday.

But is everything (and everyone) else ready to exchange and complete on Friday?


Solicitors often send out contracts for signing well in advance - it isn't necessarily a sign that everything else is ready.

hazyjo

Your lender may insist on X number of days between exchange and completion. Check.

AnotherJoe

Are the lenders ready to send funds?

davidmcn

hazyjo wrote: »

Your lender may insist on X number of days between exchange and completion. Check.

Lenders may prefer a minimum period of notice for drawdown of funds, and you might not want to request funds before exchange - but I can't see why the lender would care when you actually exchange. Simultaneous exchange/completion is hardly uncommon (you just cross your fingers that you've guessed correctly and don't need to send the loan funds back).

Cakeguts

It doesn't usually work like this. You usually sign the contracts several weeks before the actual exchange takes place and completion is usually several weeks after that.