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Exchanging/completing

(7 Posts)
IrishDP Thu 14-Apr-16 16:54:13

I'm totally new to this process. My husband and I are going through the process of buying a property. We have exchanged and are waiting to complete. We are in a situation where if we don't complete by a certain date then the sale will fall through. How long does it take to complete? Stress levels are through the roof.

RNBrie Thu 14-Apr-16 16:55:55

If the funds are available and the chain has all exchanged then nothing should stop it. Were you not given a completion date when you exchanged?

GiddyOnZackHunt Thu 14-Apr-16 16:57:33

You should have agreed a date for completion as part of the exchange. Are you sure you've exchanged or just signed the contracts ready to exchange?

bilbodog Thu 14-Apr-16 17:59:40

Normally a chain will all exchange contracts on the same day and the completion date will already have been agreed and written into the contracts. It is at this stage that everyone is commited to their sale/purchase and cannot pull out without incurring huge costs. Sounds as if you havent exchanged yet? Normally a completion date is about 2 weeks after exchange but all parties will have agreed to whatever date this is before exchange. Sounds like you need to check with your solicitor exactly where you are or the estate agent dealing with the property could proba bly tell you. Good luck!

specialsubject Thu 14-Apr-16 18:09:00

I don't think you can have exchanged as you have no completion date. Phone your solicitor 9am tomorrow and ask him to explain.

firesidechat Fri 15-Apr-16 09:45:51

Like others I wonder if you have actually exchanged if you have no completion date. It doesn't sound right.

Sootica Fri 15-Apr-16 12:11:29

Unless there is a new build in the chain? Sometimes I think with new builds you exchange and then the developer gives notice of completion. But I don't think the rest of the chain would have exchanged without a certain date for completion.

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