Exchange of contracts and signing help!

[gunder]

Without sounding ridiculously stupid...

We're signing contracts for selling and buying on Monday, everyone in chain wants to complete on the 8th our solicitor won't commit to any date as of Thursday (last time we spoke to her) our buyers buyer only signs Monday too but our buyer and our vendor have already signed.

So what I'm trying to say is, does Friday sound doable? We are getting a mortgage and funds will need to be released everything else is in place as far as I'm aware anyway. Yes we are novices and have no idea how it works

Last house purchase (the house we're selling) was no chain and we was first time buyers, so this is a whole new ball game for us.

Hopeful morning bump

As long as everyone has signed and contracts are exchanged in time there is no reason why this couldn't happen.

As above as long as contracts are signed it should be fine. Solicitors just don't like confirming dates till exchange has happened in case anything happens, in our case they change the date 24hrs before as wanted exchange and completion to happen together.

I don't understand ... is your solicitor telling you, the client, what date you may or may-not complete?
Does "everything in place" include the removals, that is usually the biggest stumbling block.

Signing the contracts in itself does not the you into anything.
It really depends what is see you have (and what lenders everyone else has) for instance, if someone on the chain has a Natwest mortgage for example, they want 7 working days between exchange and completion, making the 8th impossible.
Your solicitor will never confirm absolutely as she knows things van change in an instant, ie all the vendors and buyers in the chain want the 8th but one of them may not realise that their legal paperwork isn't 100% ready.
I am not saying all this to worry you, just to prepare you. All being well everyone could be signed by Monday and exchange could happen, it's just when there is a chain, often things crop up x
Good luck with it x

The should have been tie

See should have been lender

Probably should elaborate on it a bit more.
Our buyer and her buyer have been given a date (obviously provisionally) we haven't our solicitor won't even mention one.

We haven't booked removals etc. As my DH has the means for this and we aren't going to the new house, it needs a lot of work, we're moving back in with my parents so we was planning to do this a few days before, but my buyer and her buyer have booked removals.

I second mortgage company wanting 7 days between e&c.

We've been told 4-5 days for bank to release funds, its Halifax if that's makes any difference? Would a solicitor start this process before contracts are signed or no? And I being ridiculous I have no clue.

We exchanged Friday 1 August and moved Monday 4th. God it was bloody stressful but doable so long as everyone else in the chain is happy.

Our mortgage company could do short notice but with a £30 fee - we never actually got charged this.

you could, but as pp said might need to pay the bank fees for instant bank transfer.

you could, but as pp said might need to pay the bank fees for instant bank transfer.

OP is in no hurry, it's the other parties who want Friday. I'd ask them to cover any extra costs incurred. OK, I might swallow £30 for the sake of an easy life but not any more than that.

Halifax really only need a few days to get money, the problem is if your buyer or your buyers buyer is using someone that needs 7 days, as you all need to exchange and complete at the same time.
Generally we will not apply for monies in a situation like yours before exchange (it can be done, it is only a Certificate faxed to the lender) as if it doesn't happen we would have to send the money back and apply again, the lender would charge you for all of the mucking around. Solicitors can only hold on to lenders money for a few days, if completion does not take place it had to be sent back.

If you don't need to book removals, don't stress too much. Speak to your agent and ask them to phone all the solicitors in the chain to get it from them whether they are actually in a position to complete on the 8th x

As ft as I'm aware my buyer is using sale of her house as funds no idea about her buyer, all I know is her solicitor is her best friend and managed to sort all the paper work ready for her signing in 2 weeks, shame the other solicitors where less pro active and took 10 weeks!
So I'd imagine her solicitor knows, if she's only signing Monday like us, she can get funds released by Friday.

Close or simultaneous exchange and complete makes loads of extra risk and cost. Post redirect takes 5 working days, broadband longer , you need to insure the new place from exchange...