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Who sets the completion date?

smcqis
Posts: 862 Forumite


I know it is agreed by all parties but who does the running checking if it’s realistic to all parties in chain? EA or Solicitors?
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Comments
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SolicitorDIP 09/02/21
Offer on property 17/02/21
Offer accepted 18/02/21
Mortgage application submitted 22/02/21
Desktop valuation 22/02/21
Mortgage offer received 22/02/21
Solicitor instructed 23/02/21
Draft contract received and enquiries sent 02/03/21
searches back 08/03/21
Enquiries back 10/06/21
Exchanged 23/06/211 -
It's probably most efficient for the EAs to get everyone agreed on some target completion dates.
The EAs can each phone their clients, and phone each other - and try to negotiate compromises if required. So it's relatively quick.
Solicitors would generally just send emails, and often only deal with each client's emails once every few days. So it's relatively slow.
Having agreed a target completion date via the EAs, each person in the chain can tell their solicitor. But obviously, contracts can't be exchanged (or the sale completed) until the solicitors are ready - so it's not guaranteed that the target date would be met.
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We have told EA what date we want and to get agreement from everyone in chain.
This was after checking our solicitor thought it was doable.
So our solicitor knows our target date, and EA and chain will know the date we want to work towards.0 -
How far into the process are you? It's generally not discussed until quite late on. Absolutely pointless giving any dates if you're all only in Month 1...
2024 wins: *must start comping again!*0 -
hazyjo said:How far into the process are you? It's generally not discussed until quite late on. Absolutely pointless giving any dates if you're all only in Month 1...
Also it's important to know if anyone is in rental and needing to hand in notice etc.1 -
Octothorpe said:
Also it's important to know if anyone is in rental and needing to hand in notice etc.1 -
Have always found EA more efficient than solicitor at ringing round everyone, but depends on the EA. If it's a decent EA with sales progressors who are keeping on top of the chain, use the EA. If it's an online one where the vendor is dealing with things post-offer themselves, use solicitors.0
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AdrianC said:Octothorpe said:
Also it's important to know if anyone is in rental and needing to hand in notice etc.
But if they have X months notice to give you need to all be on board with working towards a set date.
No point you getting all sorted and them saying oh well I'm not completing for 2 more months as that's left on my tenancy.
Our buyers only need to give 1 month notice - helps us plan and know how realistic our preferred exchange/completion dates are.0
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