Exchange and Completion on the same day

J_Smotthies2021

No one would bother.....You might be right under normal circumstances but there is a deadline of tax relief in a few days. In any case, I will let you know next week. 

MWT

J_Smotthies2021 said:

In a chain, all intend to exchange and complete on the same day, the bottom of the chain can give the contract to seller's solicitor - one level up. and then s/he can keep the contract and say that he is not ready at the end of the day and ask for extra 10 days and then we may end up in July. Does abvoe scenario likely to happen ?

No, by the time you get to the day, all of the solicitors in the chain have made sure they are holding signed contracts and available funds and they each confirm that they are ready and able to proceed before any contracts are handed over.

The aim is that the client and the lender are out of the loop as a risk factor at that point so once the ripple of contracts and money starts it flows from one end to the other without any uncertainties.

Mistakes can happen, but that is always true, and they will be rare, this is after all a matter of professionalism for the solicitors in the chain. Deals like this go on all the time, not just house purchases, it is a very normal way to proceed  when you need both sides of the deal to exchange money, contracts etc. without one side getting their hands on a signed contract and then sitting on it...