Completion day - Key Exchange

reeceg353

Hi All,

Read a few old posts around key exchange and what time of the day that usually is, all of them have been for those in a chain however, I'm a FTB buying a new build so there is no chain.

Does anyone know, typically, when keys can be exchanged and how long funds take to transfer to each others solicitors?

Reason being, I move on 28th June and I've rather foolishly orders all my new furnitures to be delivered to the new address, on that date... So i think i'll need to make some calls and postpone all of this...

Thoughts?

Blackbeard_of_Perranporth

On the occasions I have moved, the exchanges have been completed by Lunch Time at 12!

hazyjo

Depends where it is in their queuing system. You don't need to be in a chain to be in a queue. My last one (in a chain) completed at 9.30am. I've had others complete in the afternoon (one or two with no chain).

I presume it would be the same for a new build. You still need mortgage money transferring (presumably) to complete.

I presume you have exchanged.

Speak to them to see if there's any chance of picking keys up in the morning anyway. If not, and they insist on waiting for actual completion, I think you would be wise in changing the delivery date or at least trying to guarantee an afternoon delivery.

Worst case scenario, get someone you know/trust to sit outside with all the new stuff when you have to go to collect keys. Will they be collected on site, or is it a small development/single house with an EA holding keys?

Tomg84

We didn't get our keys to our new build until late afternoon (it was about 3/ 4 PM). Our conveyancer had loads completing on the same day.

hb2

Our vendors disappeared without handing over the keys! Although we completed at 12.00, we didn't get keys until 4pm

reeceg353

hazyjo wrote: »

Depends where it is in their queuing system. You don't need to be in a chain to be in a queue. My last one (in a chain) completed at 9.30am. I've had others complete in the afternoon (one or two with no chain).

I presume it would be the same for a new build. You still need mortgage money transferring (presumably) to complete.

I presume you have exchanged.

Speak to them to see if there's any chance of picking keys up in the morning anyway. If not, and they insist on waiting for actual completion, I think you would be wise in changing the delivery date or at least trying to guarantee an afternoon delivery.

Worst case scenario, get someone you know/trust to sit outside with all the new stuff when you have to go to collect keys. Will they be collected on site, or is it a small development/single house with an EA holding keys?

Yes, exchanged back in February!

Yeah, because I move on a Friday, most of the companies I've already called charge extra for a weekend, or don't have any available drivers in my area till the next week (which would mean another day off work )

The keys will be 2m down the road in the marketing suite, there is no EA.

I'll probably just change deliveries to the weekend where possible, otherwise I can just get them delivered to my parents and make a few trips in the van (rented).

It's not a massive problem thinking about it :rotfl:

D_M_E

Talk to the developers and ask them what time they expect you will be able to get your hands on the keys.

The last time I bought a newbuild completion did not get done until 5 p.m. and keys were handed over at 10 a.m. the following morning when the sales office opened.

Oxid8uk

We completed on our new build at around 11.30am, a chain of just our sale and the new build purchase. However, if it had completed earlier than 11am we would have had to wait until the sales office opened before being able to get the keys...

Tom99

Since you are a FTB its just possible your solicitor will have asked for your mortgage money the day before so in theory could sent it to the buyers solicitor the day before then completion can be via a phone call 1st thing in the morning.

csgohan4

Didn't bother with the keys, got a locksmith to change all the locks soon after completion, better that way too, who knows who else has access

eddddy

csgohan4 wrote: »

Didn't bother with the keys, got a locksmith to change all the locks soon after completion, better that way too, who knows who else has access

You mean wait until the solicitor phones to say completion has happened, then call-out an emergency locksmith to break in and change the locks?

That sounds expensive (and weird).

Anyway, I don't think that would help the OP. The OP's main question is really what time completion will happen (after which time the keys can be handed over, and furniture can be moved in).