Is this enough to go on

mm1985

I know of all the worst cases that could possibly stop exchange but is the below email enough to go on to now plan to move on Wednesday. I need to pay deposit to removals tomorrow, pack up some bits snd prepare the kids.

Good Afternoon

 

Further to the above matters, I have now agreed with all parties to exchange Contracts on Monday with completion for the 20thJanuary 2021.

 

Kind Regards

hazyjo

I'd wait until actual exchange. There's absolutely no guarantee at all until then. You would more than likely lose your deposit. How many in the chain?

mm1985

hazyjo said:

I'd wait until actual exchange. There's absolutely no guarantee at all until then. You would more than likely lose your deposit. How many in the chain?

There are 4 in the chain I just have no idea what time in the day exchange usually happens and if I’d have time to confirm removals 

greatcrested

Looks very promising .... but not guaranteed.

Is removals deposit refundable? Are you prepared to write off the deposit?]

If sale collapses are you still contractually obliged to pay the balence?

davidmcn

mm1985 said:

hazyjo said:

I'd wait until actual exchange. There's absolutely no guarantee at all until then. You would more than likely lose your deposit. How many in the chain?

There are 4 in the chain I just have no idea what time in the day exchange usually happens and if I’d have time to confirm removals 

There is no usual time. You'll know it's happened whenever your solicitor tells you it's happened. Until then, it hasn't. And might not.

Falafels

Interestingly, I'd arranged with my removals company to move on a specific date before completion. I was moving in with my partner and was not dependent on the sale finalising on a specific date, but even so - they didn't confirm the time and date of the booking, although I'd paid the deposit, until exchange had taken place. Completion actually took place eight days after that, but I'd moved out and cleaned up the day before so as to minimise any stress.

Have a word with your removals company.

mm1985

Ok but does this mean that all parties in the chain have agree to this date or just those involved in the sale of our property and purchase of the new one? Would my solicitor also be communicated with our buyers buyer? 

davidmcn

mm1985 said:

Ok but does this mean that all parties in the chain have agree to this date

It says "all parties".

oldbikebloke

there is only one person who can answer this, YOUR removals company
- they may be truthful and say yes only need X hours notice
or
- they may fudge it and give themselves more than they need 

you will never know until you ask them.
What you do not do is commit until your solicitor says exchange has taken place, not is going to take place (vaguely) tomorrow 


completion dates should be synchronised both up and down the chain unless one (or more) party makes their own arrangements to probably move into temp accommodation for whatever reason drives their decision making. Your solicitor does not talk buyer's buyer, your solicitor asks your buyer's solicitor for an update as they know what is happening above and below. Messages go up and down the chain via solicitors, that is why you pay them and don't do things until they say OK. 

greatcrested

mm1985 said:

Ok but does this mean that all parties in the chain have agree to this date or just those involved in the sale of our property and purchase of the new one? Would my solicitor also be communicated with our buyers buyer? 

It means that all parties in the chain have agreed in principle to Exchange. But there is still a possibility that one or more will back out/be unable to. Unlikely but possible.

What will happen is all the solicitors will speak to each other on the phone on the day and say:

" Are you ready?"

If the answer from them all is

"Yes."

Then they will speak again and say

"We are Exchanging." and each record the date/time.

They will then contact their clients to tell them Exchange has happened. It might be in the morning. It might be at 5 minutes to 5 PM.....

badger09

How much of a deposit do you possibly lose if you have to change the removal date?

I've posted elsewhere that I paid a non refundable deposit of £250 and booked our removal once exchange & completion dates had been agreed 'in principle' ie nothing binding, and about 2 weeks before exchange. That was because removals were fully booked up many weeks ahead. The loss of £250 would have been annoying, but much less annoying that delaying completion! And no, we could not have used a man with a van, or done it ourselves.