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Original poster

Packing up entire house before exchanging contracts?

18 replies

ReallyAIBU · 17/01/2018 21:30

It looks as though we will be exchanging and completing on the same day.

Whilst I understand this can (and does) happen without issues,, my concern is packing up the entire contents of our house without anything legal in place for our vendor.
Has anyone done this before and did you feel it was a risk?

OP posts:

FramptonRose · 17/01/2018 21:35

Is there a specific reason you need to exchange and complete on the same day?
I used to work as a Conveyancer. The issue is, you have to effectively have everything packed up ready to go, in case it does go through. If it doesn't, there isn't anything you can do as you are not under Contract.

How many people are in the chain?

HardAsSnails · 17/01/2018 21:42

We exchanged and completed the same day for our last 2 moves, it was fine. As long as you trust your solicitor is on top of things it should be fine.

Original poster

ReallyAIBU · 17/01/2018 21:46

Thanks both.
There are 4 in the chain and the delay is coming from above.

I trust our solicitor, it's our vendor who I have concerns about
I guess we'll just have to pack and keep our fingers crossed!

OP posts:

FramptonRose · 17/01/2018 21:55

I will be honest, 4 is a lot of people to do a simultaneous exchange and completion with. There are too many parties involved. Why do they want to do it on the same day, is there a specific reason?

If it were just you and the vendor, it would be a lot easier.

Your solicitor also need to ensure they have gone all the way up the chain to ensure everyone has applied for the mortgage money for suggested date and has got a statement out to their clients with the amount they need from them.

Who has told you a simultaneous is needed? If it is the estate agent, be cautious, estate agents often throw this out there, without realising how much has to be undertaken to do it.

Hs2Issue · 17/01/2018 22:03

It's not a great situation. We did this last year as higher up the chain hadn't signed their contracts. It was highly stressful and we're never moving again. I used to work in an estate agents so I knew it wasn't a good idea.

We could have lost all the money for removals if it hadn't gone ahead etc. As it turned out another pickfords van came to help our one as another move/chain had collapsed that day.

Nessalina · 17/01/2018 22:21

I refused to do it when our vendors solicitors suggested it. If it had fallen through then we would have been liable for the full cost of our packing and removal service (£1700) and couldn't afford to take the risk! I'd maybe consider it if there was a legal arrangement in place saying that whoever pulled out would cover the other parties removal costs, but that would be very difficult to arrange. Much better to just exchange in advance! We exchanged on a Tuesday and completed on the Thursday.

ChampagneCommunist · 17/01/2018 22:34

Another property lawyer here; don't do it unless there is zero alternative.

I really wouldn't want to chance it on a four party chain.

And if you have to do it, don't do it on a Friday

FluffyWuffy100 · 17/01/2018 23:11

4 people in chain? I would not agree to exchange and complete on the same day. At least 2 days preferable a week between. There is zero need (in 99% of cases) to do this on the same day.

Jaxinthebox · 17/01/2018 23:14

Im not a property lawyer but I have bought and sold enough houses to know 4 in the chain and same day exchange and completion is a nightmare. Just dont do it. Why is that been suggested?

AwkwardPaws27 · 18/01/2018 12:43

My vendors tried repeatedly to get me to agree to this. I said no as we'd be stuffed if it didn't go through (I agreed to one week in between, which was stressful enough - we did still manage get movers at short notice, but knew we could move ourselves with a hire van if needed).

As it happened, my buyer was a nightmare and forgot to transfer the deposit which meant no-one could exchange until the Monday anyway!

specialsubject · 18/01/2018 16:02

Can't book removals. Cant arrange redirect of post. Can't arrange phone and broadband. Huge amounts of extra stress.

High chance of it not happening on the day. Why would you even consider this?

Hillingdon · 18/01/2018 16:11

Please don't do it. You might have a good solicitor but people do change their minds, funds get delayed etc. This means that you are all packed up and literally have nowhere to go!

I ended up having a month between exchange and completion which was bliss. it was at my request. I don't know why people have exchange and completion so close

Original poster

ReallyAIBU · 18/01/2018 21:29

Thank you everyone for your replies.
I think we need to push back and agree new dates.

OP posts:

Slightlyperturbedowlagain · 18/01/2018 21:39

Another vote for not taking the risk, friends of ours ended up staying with us for a week while they sorted out rental accommodation urgently near us when their sale 100 miles away fell through as the chain above collapsed because someone basically changed their mind on the day and so they couldn’t then buy the new house. They were all due in work and new schools on the Monday so couldn’t just go back to the old place. Was a right kerfuffle with pets and belongings distributed round the neighbourhood in various kind people’s houses and garages and some of it sent to store. There’s no way we’d ever agree to exchange and complete on the same day after that!

wheresmyphone · 18/01/2018 22:05

We have done it but we had a fall back plan. But for you, if your buyer pulls out, your house will look a mess because it is empty and it will make it difficult putting it back in the market.

Hillingdon · 19/01/2018 11:58

A good EA wont suggest this. They will know the fall out that occurs should something happen. A friend of mine tried to do this a few years ago and the solicitor who was confident everything was in place was involved in a car accident and was carted off to hospital.

His colleagues didn't know about the case and wouldn't agree to exchange and complete because they had come in cold on the BIG day.

They only had themselves and their buyer in the chain and yet these things do happen.

wowfudge · 19/01/2018 12:28

Everyone can exchange on that date, just give yourselves some breathing space by completing a few days/a week/a couple of weeks later. When we moved we had ten days between exchange and completion.

Murinae · 19/01/2018 23:00

We exchanged and completed on the same day but we were only in a chain of two. They had already moved out and we had a month overlap with two houses anyway so didn’t matter if it didn’t go ahead as we weren’t moving in that day anyway.

I would refuse in a chain of four. Too risky that something will go wrong.

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