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What Happens on Completion Day?
Comments
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The seller's solicitor should telephone the estate agents when the money comes in to release the keys but it doesn't always happen because of pressure of work or whatever.
It is therefore safest for the buyer to make sure by checking with the agents that they have authority to release the keys. Ideally telephone about 12.30pm and then if the agent hasn't heard, when the agent phones the solicitor he may get given authority to release them. Of course if the money hasn't yet come in the authority won't be given. What is annoying though is that if you phone the agent at say 1.15pm and the agent phones the solicitor and finds he is out at lunch, so even if he has the money there is nobody there to say he has it and you have to wait until about 2.30pm when he comes back from lunch! There should be a law preventing conveyancing solcitors going out to lunch on Fridays!
Even worse, if you are working and hoping to pick up the keys after work and you wander into the agent's office at 5.45pm on a Friday to collect the keys and they have no note of any phone call releasing them and can't then get hold of the solicitor.
The moral is the buyer should phone the agents to check earlier in the day. This will then prompt them to contact the solicitors.
I was once in my office on a Saturday morning and I got a phone call out of the blue from a builder's site office. My buyer clients had completed their purchase the day before and arrived first thing to collect the keys and the builder's solicitor had not told the site office it had been completed. In the end the sit e office released the keys on my assurance I had sent the money! I needn't have been there on a Saturday so my clients were lucky!RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Thanks, Richard, much appreciated. My solicitor is a bit useless, and I have a feeling the vendor's is as well (took til Weds to send final statement so had to fork out £25 for CHAPS or money wouldn't have made it by Tuesday, combination of their lack of motivation and Halifax's crap payments system!!)Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0
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