Exchange\Completion Questions

Biggie

Hi All,

Bit worried asking for advice on here now as everythread appears to turn into an aggressive HPC thread :rolleyes:.

Anyway I'm purchasing a property in a chain i'm at the bottom of the chain so have informed my vendor that i'm chain free but if I find a buyer for mine they may join the chain. (I have a B2Let setup on my current property incase I can't sell it in time).

I have found a purchaser for my house so was hoping I could just attach him to the end of the chain. As he's an invester and just wants to purchase asap.

Couple of questions:

1) If my purchaser exchanges first (by a couple of weeks) can I use his 10% depoist towards the deposit towards my new property ?.
2) On completion day I persume that I will get a call from the solicitor any time before 3pm to tell me the chain is complete. Does that mean I have to vaccate my property asap. I will need to basically move my stuff into the new property myself so it will take at least 2-3 hours.

silvercar

1) If my purchaser exchanges first (by a couple of weeks) can I use his 10% depoist towards the deposit towards my new property ?.

Yes, it would be held by your solicitor and could be passed up the chain.

2) On completion day I persume that I will get a call from the solicitor any time before 3pm to tell me the chain is complete. Does that mean I have to vaccate my property asap. I will need to basically move my stuff into the new property myself so it will take at least 2-3 hours.

The done thing is to be packed loaded up and ready to go when you get the phone call. I doubt a BTL investor would worry if you didn't pass the keys to him til late in the day.