When to complete property transaction?

staffie1

Different company, different policy. If you’re working from home, broadband is considered essential, and there is nothing to stop them providing the service - so long as social distancing is maintained.

Comms69

MovingForwards said:

@akorn77 I need broadband for work as a lot is cloud / server storage, but have already started tracking how much internet I do use for work and am looking into getting a dongle / WiFi package for a month or so, if need be; my company will refund me. (Even if they didn't I would still do it). It would work for me as I'm just an office waller using office / internet etc for my job. I've already planned the first month of working from home with limited internet!

Have you checked to see what providers are in the road you are buying? If there's a BT line that opens it up to loads more and is probably just a case of sending a router to you and flicking a switch for connection. Sadly, virgin isn't in my new area as I would have happily stayed with them but have selected my new company.

The reason for exchange / completion being on the same day is in case buyer / seller exchange, one gets ill and / or dies, then there is breach of the contract. It's for both of your benefit to do it the same day.

I'm rushing to complete / move as I've neighbours from hell, it was bad enough before lockdown!

The estate would be obliged to fulfill the contract, which is a good reason to have life insurance when you exchange

MovingForwards

@Comms69 the estate wouldn't be able to get probate quick enough to meet the completion date.

I was just trying to give OP an explanation for the short exchange/complete dates. Pre-virus days 1 - 4 weeks between the two was fairly standard.

Comms69

MovingForwards said:

@Comms69 the estate wouldn't be able to get probate quick enough to meet the completion date.

I was just trying to give OP an explanation for the short exchange/complete dates. Pre-virus days 1 - 4 weeks between the two was fairly standard.

yes fair point.

LoveSauce

You can still get broadband installed. I just moved in and had my Virgin Media installed 3 days ago.

steampowered

I'd be amazed if it completes when you intend.

It isn't really in your or the EA's gift to decide when you exchange - as you'll need to go through the process of getting searches done and enquiries raised etc. - best to get your conveyancers on the case ASAP.

akorn77

I think the topic around broadband got misconstrued a bit. The priority is obviously health & safety, so having various tradesman inside the house at the present time, may not be the smartest move. Inevitably, doing anything is going to be a lot harder logistically, but I understand that everyone's risk appetite with regards to health & safety will be different. Judging by the current landscape, I'll probably end of suggesting mid/end June. 

steampowered said:

I'd be amazed if it completes when you intend.

It isn't really in your or the EA's gift to decide when you exchange - as you'll need to go through the process of getting searches done and enquiries raised etc. - best to get your conveyancers on the case ASAP.

As previously mentioned, my solicitor i'll be ready to exchange in a couple weeks. EA just wants a completion date from me. 

davidmcn

akorn77 said:

- buying DIY supplies (maybe long waiting times for things?)

DIY shops are open (well, many are) so unless you're wanting something esoteric that shouldn't be an issue.

steampowered

As previously mentioned, my solicitor i'll be ready to exchange in a couple weeks. EA just wants a completion date from me. 

All I will say is that, from experience with buying properties and reading people's experiences on this board, it always takes a lot longer than you think, and there will probably be roadblocks. There's no harm in setting a hopeful completion date but do be prepared for it to slip !

The fact that your solicitor says you'll be ready in a "few weeks" doesn't give me confidence -  they would be ready to exchange today if everything required for exchange has been sorted !