Nearing completion and I have a few questions

m0bov

Ask your sol if your ready to exchange, they then reach out to the others in the chain. Up until then don't commit to anything.

AlexMac

Most of your questions have been answered, and I'm sure it will all be OK, assuming that your solicitor does advise you that they have exchanged (i.e. comitted to the deal) and set a completion date; chase 'em if not. We've bought and sold about ten times over the years, most recently three weeks ago- a holiday flat - and I still get the jitters. I was bugging my solicitor daily for the last few days prior to exchange to ask if the buyer's solicitor had actually done it!

But what always bugs me more is the delay while money is transferred from the buyer's solicitor to the seller's one; usually by an electronic Bank transfer known as CHAPS. For some arcane reason this always slower than the instantaneous, smaller Bank transfers or the "Faster Payments" which you do on your own online banking app.

Our solicitor rang me at 10am on completion day a few weeks ago to say they'd instructed the transfer - but the wonga didn't show in my bank til almost 2pm. (cue paranoid checking they got the a/c and sort-code right)

And when we bought our current home, we waited til about 4pm for the Estate Agent to release the keys. Maybe they, or the solicitor, or the seller were out on a long lunch but the cynic in me wonders what happens to the interest on the gazillions of pounds in transit - even for a few hours - if you add up all the moolah in transit on any given day?

The problem here is that if you have a removals van booked for the completion day, you can exit your own house as fast as the guys can load up- we usually get out by noon, even with a house-full of gear. But the estate agent who is action for the seller, won't release the keys til the cash is in the seller's (or their solicitor's) bank.

We overcame the 4pm problem by simply breaking in, as the house was empty, the owner overseas, and as we always cange the locks anyway on day one- as you should; an easy DIY job. Have a good look at the window locks too; our looked OK, but were on half inch screws in timber frames, so popped when a baddie applied a jemmy a couple of weeks later (they're bombproof now!).

Not that I'm advocating breaking and entry as a routine procedure...

Good luck

comedyseeker123

Hi all,

Called my solicitor, they said they are chasing the rest of the chain. My solicitor has done all the checks and I’ve sent the deposit (as of Friday) so what else can I do?

I’m also concerned as to why the vendors estate agent is calling the solicitor but they don’t return her calls. I get updates straight away.

Let’s wait and see.

I’m tempted to get a van Over the weekend so I can buy the beds from ikea and move. But i also don’t want to tempt faith!

Half empty kind of girl

hazyjo

comedyseeker123 wrote: »

Half empty kind of girl

That's a surprise. Really thought you were male

Not sure I'd be buying anything just yet. Not until exchange. It could all still fall apart! Be careful!