Exchange and complete same day?

SJE89

We’re in the process of buying a property and currently in rented accommodation.
One of the things we’re keen to do is exchange and complete on the same day to avoid any worries should anything go wrong between then and we’re obliged to complete but for whatever reason be unable to.
Is this something that happens often?
How’s best to approach the conveyancers with this request?
I can imagine it’s something they that wouldn’t relish doing.

london21

SJE89 said:

We’re in the process of buying a property and currently in rented accommodation.
One of the things we’re keen to do is exchange and complete on the same day to avoid any worries should anything go wrong between then and we’re obliged to complete but for whatever reason be unable to.
Is this something that happens often?
How’s best to approach the conveyancers with this request?
I can imagine it’s something they that wouldn’t relish doing.

Is your seller in a chain?

If it is a straightforward transaction, then it is do-able.

But once exchanged, completion can be few days or a week in between but can raise this with your solicitor if you want exchange and completion on the same day. 

Flugelhorn

SJE89 said:

We’re in the process of buying a property and currently in rented accommodation.
One of the things we’re keen to do is exchange and complete on the same day to avoid any worries should anything go wrong between then and we’re obliged to complete but for whatever reason be unable to.
Is this something that happens often?
How’s best to approach the conveyancers with this request?
I can imagine it’s something they that wouldn’t relish doing.

why are you concerned that you wouldn't be able to complete ? 
depends really on your vendors, I hate simultaneous as good to have some certainty in organising things 

user1977

SJE89 said:

Is this something that happens often?
How’s best to approach the conveyancers with this request?

Just talk to them! It's pretty commonplace.

SJE89

Flugelhorn said:

SJE89 said:

We’re in the process of buying a property and currently in rented accommodation.
One of the things we’re keen to do is exchange and complete on the same day to avoid any worries should anything go wrong between then and we’re obliged to complete but for whatever reason be unable to.
Is this something that happens often?
How’s best to approach the conveyancers with this request?
I can imagine it’s something they that wouldn’t relish doing.

why are you concerned that you wouldn't be able to complete ? 
depends really on your vendors, I hate simultaneous as good to have some certainty in organising things 

Generally speaking I always worry and fret that the worst should happen as is my nature.
I appreciate that it can be inconvenient for some people, but we are chain free so we don’t have to align plans for moving, that is already a positive for the vendors as they don’t have to wait for us to sell but we do have to wait for them to line up their chain.

beckstar1975

DON'T DO IT!

We did it, buyers money wasn't through in time, we'd already packed and moved out of the flat on our solicitors say so so we were stuck with all our stuff on a moving lorry for a weekend (including fridge with food in) and a 14 month baby with literally only the clothes we were wearing. As we'd not exchanged we had no recourse to any money back from then. So we had to pay the movers more and were literally homeless, thankfully managed to stay with MIL for the weekend.

I would never, ever recommend anyone do it, leave at least a day to prevent the same from happening

housebuyer143

It's fine to do this as long as your seller isn't in a chain. It's incredibly stressful if you are in a chain and doubt they will agree. 
Imagine booking your removals, packing up your house and then it doesn't happen...

deano2099

SJE89 said:

Flugelhorn said:

SJE89 said:

We’re in the process of buying a property and currently in rented accommodation.
One of the things we’re keen to do is exchange and complete on the same day to avoid any worries should anything go wrong between then and we’re obliged to complete but for whatever reason be unable to.
Is this something that happens often?
How’s best to approach the conveyancers with this request?
I can imagine it’s something they that wouldn’t relish doing.

why are you concerned that you wouldn't be able to complete ? 
depends really on your vendors, I hate simultaneous as good to have some certainty in organising things 

Generally speaking I always worry and fret that the worst should happen as is my nature.
I appreciate that it can be inconvenient for some people, but we are chain free so we don’t have to align plans for moving, that is already a positive for the vendors as they don’t have to wait for us to sell but we do have to wait for them to line up their chain.

While I understand that having a similar mindset myself, I found post-exchange the worrying eased off a bit as everything was "locked in" - far more can go wrong pre-exchange than post-exchange. Especially as you don't need to worry too much about removals letting you down as you're chain free. 
Yes, technically more is at risk post-exchange (your deposit) but it's extremely rare for anything to go wrong on your end assuming you have the money ready and the mortgage offer in place. I'm curious what you think could go wrong? Things could go wrong on their end which you can't control, but then again, no chain, so you can just walk away with their deposit. 
We certainly found ourselves more worried pre-exchange that it wouldn't go through than we were in the two weeks after.
While what you're proposing is possible, it might actually cause you more stress overall than exchanging earlier with completion at a later set date.

Ath_Wat

If they need to arrange movers etc, they are not likely to want to.  If you have nothing to sell and are moving into an empty property, it is far more practical.

newsgroupmonkey_

If you're renting, it's often a good idea to put a week or even 2 in between, depending on when your rent is due.

Under no circumstances should you hand in your notice before you exchange.

TonyMMM

SJE89 said:

One of the things we’re keen to do is exchange and complete on the same day to avoid any worries should anything go wrong between then 

Far more chance of not exchanging and things falling through on the day, than something happening between exchange and completion .

Wouldn't even consider it.