Who decides the exchange/completion dates?

rococomaiden

FTB here.
Our solicitor has completed the searches etc. and has given us a copy of the (undated) contract to sign in order for them to have a signed copy on record.
We are still waiting for the survey writeup which we should receive this week.
I am just wondering what do we need to do now to choose an exchange date?
Do we need to speak to our solicitor or the estate agent?
What do you think a reasonable date would be? The property is currently empty as the owner moved to Spain and there is no chain either end.

kingstreet

Your solicitor asks you for your preferred completion date(s). These are put to the other side's solicitor. A completion date on which all parties are agreed is confirmed.

Exchange of contracts can take place as soon as your solicitor has all the documentation and deposit to hand.

Surrey_EA

You don't choose an exchange date as such.

Typically exchange happens at the earliest point in time that all parties have completed all of their investigations and preparations and are happy to go ahead.

Completion date is whatever date buyer and seller (and any others that may be involved in the chain) deem to be convenient.

Typically there is a minimum of 5 working days between exchange and completion to allow time for any mortgage lender to send funds to the solicitor. However, with some forward planning it is possible to exchange and complete on the same day. This would generally only be convenient for people in your situation, i.e: buyer not selling anywhere and the property being bought is already vacant.

lisyloo

Most people advise against exchange/competition on the same day as there is a higher risk of completion not going ahead.
Our exchange was delayed a day about 6 times for trivial reasons due to one of the conveyancing solicitors being useless (like the person involved being on leave that day).
Most people have a gap so that if exchange is delayed then it doesn’t affect their booked removals or time off work I.e. completion date.