exchange and complete on the same day? Quick moan.

janine

This is the plan for tomorrow, it wasn't meant to be that way!

Our buyer has messed us about so much throughout this sale and is still doing it. They were supposed to sign on Tuesday but it turns out there was a problem with the mortgage. The money may not be there tomorrow meaning we're going nowhere if it doesn't arrive on time but our solicitors have told us to pack as though we're still moving just in case. A removal firm won't touch us as it may not happen (and who can blame them) so we have hired a luton to do it ourselves which will be fun with 2 young children and me being 7 months pregnant.


This should of been an easy(ish) move as the property we're buying is vacant and our buyers are FTB's


Sorry for moaning but just feeling sorry for myself

Doozergirl

If you waited a week or even a few days before completing then you will ease the stress on yourselves.

Unless your buyers have a 100% mortgage then one wouldn't advise doing it on the same day. If they are properly messing you around, it could get worse if they try and gazump you at the last second.

I would always leave at least a day or so just to be safe.

SquatNow

Agreed, If the buyers have been on here for advise, they will Gazzump you.



It's only a matter of time before it happens... we end up advising buyers and sellers of same proprty at same time, especially with sales volumes dropping through the floor.

Nicki

This happened to us in the summer. If you've been told there may be a problem with the money, then this is likely code for there is a problem with the money. We were supposed to exchange and complete on Friday and ended up actually doing so late on the Wednesday evening, with two kids, one of whom was disabled to accomodate and all our furniture on a removal van. The removal firm charged us an absolute fortune in additional fees and storage costs despite the fact we had taken all the insurance they had to offer for this kind of thing.

Keep my fingers crossed that you have better luck than we did!

janine

Thanks all, I really hope what your saying doesn't happen, I suppose we'll know tomorrow.

We had asked our solicitor if we could exchange tomorrow and move next friday instead but he told us the mortgage money would have to be sent back and it would be 2 weeks before we could complete.

Doozergirl

?? You can leave it a few days without having to send it back These things happen ALL the time What would be the point of sending it back to have them resend it? Admittedly you'd probably have to start paying interest from when your sol received it.

Maybe our resident solicitor will be able to answer properly

Mozette

No advice, but I do feel for you. Had this sort of nonsense my self - it all looked like going down the pan on the day for a couple of hundred quid. My lovely estate agent, bless him, popped down the road to my buyer's solicitor with the money himself so it could all go through. My God but he earned every last penny of his fee, the man was a saint.
All the best anyway, hope you're soon on here saying how fab it all went.
Good luck.

HugoSP

If you can exchange and complete the same day it makes it a lot more flexable, just a little more stressful!

We have exchanged and completed on the same day 4 times IIRC. Twice on properties we moved into ourselves.

The first time we were in rented, having just sold our previous place a few weeks earlier - stuff was in storage and we just had two car loads of stuff in our rented flat. We had an 18 month old and my wife was expecting our second, and I was insensitive enough to grab a top floor flat (4 flights and no lift!)

The purchase was really dragging on and then suddenly, one Friday we got a call from our solicitor to say that we could exchange and complete. Two hours later I got another phonecall at work to tell us the house was ours! I then left work and went to grab the wife, child, her cot and a car load of stuff, put them into the new house then went back for the 2nd car load. The Landlord of the flat even helped me move. We had the place on an immediate vacation arrangement, so we just paid the 4 weeks we were there. The LL was doing the 4 flats up to rent out on ASTs but we got in there whilst he was still working on them, so we had one that was basically finished but before he was due to rent them out properly.

The second time was with a house swap. The vendor was buying our house and we were buying hers. It would have gone smoothly but for an aggrieved ex spouse who basically tried to block her every move. It took 2 years to get to exchange - yes 2 years! But we completed the same day.