Nervous about exchanging and completing on the same day

HanPop

So after a year of trying to move tomorrow is completion day. Except we haven’t exchanged yet as our solicitor is ‘still looking at our file’ even though there has been plenty of time for that as originally we were meant to move before Christmas! I don’t want to change the completion date from tomorrow as our buyers have been v patient and have been ready to move for weeks and we only haven’t due to our v slow solicitor. I’m just so nervous that they might pull out and we’ll be packed up in the van. I might add that i am a nervy seller due to my last buyer pulling out at exchange. Our current buyers haven’t given me any reason to be wary of them, I just don’t trust anyone after what happened last time. Just looking for reassurance that the odds are things will go smoothly, as exchanging and completing on the same day was something that I never wanted! I hate all of this uncertainty.

RelievedSheff

We have exchanged and completed on the same day on both of our house purchases to date.

Both times it has gone very smoothly.

We certainly wouldn't worry about doing it again.

Sachs

It sounds a bit late to really change anything.

Should you be trying to exchange and complete on the same day? No, not really, but it's happening.

I would suggest cross your fingers and hope for the best, if it doesn't work out then don't do it again and give yourself a week. Who suggested same day anyway? Presumably there was a reason.

eddddy

HanPop wrote: »

Except we haven’t exchanged yet as our solicitor is ‘still looking at our file’...

That sounds a little bit worrying. If your solicitor hasn't finished doing everything, you won't be able to exchange and complete tomorrow.

Phone you solicitor's office and ask if everything is on target for tomorrow.

HanPop

Well our solicitor has given 3 dates for exchange so far that haven’t been stuck to (our solicitors fault) and my buyers are getting understandably annoyed and said they would ‘reconsider their position’ if it wasn’t done on Friday.....it wasn’t done on Friday and not yesterday either and we are edging closer to completion date without it having happened and I don’t want to risk losing our buyer as we have had a tough year house selling/buying wise. We are moving into a new build so no chain above us.

HanPop

We have been continually calling our solicitor for the past 2 weeks....we’ve been told if it isn’t done today then it will be done by lunchtime tomorrow...doesn’t fill me with great hope

babyblade41

One of the reasons I'd never agree to exchange and complete on the same day.

As eddddy said, if solicitor is still looking at the file it doesn't sound promising.

I would phone today to confirm

Slithery

HanPop wrote: »

...and we are edging closer to completion date without it having happened...

But you don't have a completion date yet - completion date is only set when you exchange contracts. Until all solicitors are ready to exchange all you have is a a date you would 'like' to complete on.

babyblade41

What are the reasons for not exchanging ??

HanPop

Ok well we have a ‘completion date’ that has been set and agreed and I believe if we don’t stick to it the buyers may pull out. So that is what is being worked to. Removals van etc are all booked.
Babyblade- there are no good reasons. All excuses I feel. We are using help to buy which delayed things by 2 weeks (they changed their way of doing things from the beginning of January) and the last week and a half has been down to our solicitor being too slow and not doing the paperwork that they were meant to.

RelievedSheff

In you situation I think I would be a little more edgy.

With both of our sales the solicitors were very on the ball and all the paperwork was completed well ahead of exchange and completion. It was just a matter of convenience and quick sales that led us to exchanging and completing the same day.