Exchange on day of completion?

crl1995

nervousftbs said:

We did same day exchange and completion in a chain of 4 a couple of weeks ago (with us at the beginning as FTBs) - not going to lie, waiting was horrible especially as we were also in a position to exchange a week earlier than we were supposed to but it all went smoothly but we just had to wait ages to get our keys as everyone else in the chain was buying/selling so were all moving on the same day. We were told we could demand the keys but we weren't in a rush so didn't want to put pressure on our sellers as we know how stressed they were - we got the keys around 7pm. Fingers crossed it all goes smoothly for you!

Thanks for sharing, seems like it’s more
common/doable than I thought! Like you I’m not in a rush either, I’m just on pins waiting for them to exchange! I’m more nervous that one of the solicitors mid chain is on holiday, but you’d think they’d have handed workload over. I think I’ll end up waiting a while for my keys as well then! As long as I’m in Friday as planned, that’s the main thing 😀

kazwookie

I exchanged and completed on the same day.

Note on completion you need to be out of the property and all your stuff you are selling as it is no longer yours.

We moved the bulky stuff to storage, then got locked down!! but that is another story.

I suggest you contact or get your solicitor to, the solicitor's office who is on holiday and ask who is doing their work while they are on hols, and start to push them

iwb100

crl1995 said:

Flugelhorn said:

fortunately our most recent sale has been cash purchasers buying our no chain property.  Even then I wanted 2 weeks between exchange and completion - main problem seemed to be tying removals down as they seem to be extremely busy at present

Yeah, that’s an issue - I wanted to book a van to move the bulky stuff but they won’t book me in as haven’t exchanged contracts yet. Highly doubt I’ll be able to get one on the day, so will probably have to be a few days after. Luckily I’m only moving from my parents so not being kicked out of anywhere! 

I can’t believe you can’t book movers. You will have to pay upfront and risk losing it but crazy that they want you to exchange. If you are paying what does it matter to them?

crl1995

iwb100 said:

crl1995 said:

Flugelhorn said:

fortunately our most recent sale has been cash purchasers buying our no chain property.  Even then I wanted 2 weeks between exchange and completion - main problem seemed to be tying removals down as they seem to be extremely busy at present

Yeah, that’s an issue - I wanted to book a van to move the bulky stuff but they won’t book me in as haven’t exchanged contracts yet. Highly doubt I’ll be able to get one on the day, so will probably have to be a few days after. Luckily I’m only moving from my parents so not being kicked out of anywhere! 

I can’t believe you can’t book movers. You will have to pay upfront and risk losing it but crazy that they want you to exchange. If you are paying what does it matter to them?

Yeah - he just said he’s not booking anyone in unless they’ve exchanged. I’m not too bothered about that, I’m in no big rush. Just anxious about whether i’ll move tomorrow at all, as still not heard anything. No one seems to know what’s going on. 

Temp_Username12563

I've exchanged and completed on the same day and don't understand why there is a one week delay - I figured it must be some archaic thing from olden times as makes much more sense to do the deal on same day. 
Good luck! 

crl1995

The_Secret_Landlord said:

I've exchanged and completed on the same day and don't understand why there is a one week delay - I figured it must be some archaic thing from olden times as makes much more sense to do the deal on same day. 
Good luck! 

Looks like we are set to exchange today 👍 this may be a daft question - in a chain of 4 who would exchange first? as a FTB would I be at the bottom or top? Is there a set order? 

nervousftbs

You will be first - we got the call around 9:15 to exchange and then another call about half 12 to say we had completed. Also, it's a bit late now but we booked our removals without having exchanged or pay a deposit, we booked them for a week after the proposed completion date in case anything was delayed. Good luck, hope it all goes well!  

crl1995

nervousftbs said:

You will be first - we got the call around 9:15 to exchange and then another call about half 12 to say we had completed. Also, it's a bit late now but we booked our removals without having exchanged or pay a deposit, we booked them for a week after the proposed completion date in case anything was delayed. Good luck, hope it all goes well!  

Thank you - that’s a good idea. I had a call from my solicitor at 12 today asking me to confirm I want to exchange, said she would keep me posted.. still waiting for an email/call back. 😬😬

Brock_and_Roll

If exchange & completion same day becomes the "new normal" (doubt it), the sight of bored removal men standing around for hours will be a common sight (along with heart attacks for stressed buyers and sellers)!

crl1995

My solicitor has just rang to say it’s going to have to be exchange and completion tomorrow! fingers crossed everything goes through smoothly.