Average time between exchange and completion?

[Yolo2018]

What it says in the title really.

Just wondering what the average time between exchange and completion is?

And what are the pros and cons of a gap/same day completion?

I am thinking that it would be way less hassle to move in to our rental before completion so all settled rather than stressed!

A week to ten days is typical but can be shorter or longer. The gap helps with logistics, transferring utilities, redirecting post, confirming removals date, arranging deliveries for buyer. If you moved out sooner it gives you time to do so under less pressure and make good any damage.

I personally would want a couple of weeks but think it’s quite common nowadays to have far less.

We exchanged and completed on the same day due to one of the surveys not coming back on time. All worked out fine 😊

We had two days, which was far too close for me. The deal.nearly went pear shaped and it was only 2 days before that we could tell utilitities/post redirection/pet microchip/car ins addresses our new address - we had about 20 calls to make in those two days on top of everything.

Oh and we also.had to try and get a removal.firm.in 2 days as most won't let u pre book without a deposit.

Solicitors usually need 5 working days to draw down the mortgage funds so it is usually a week, but can be longer if all parties in the chain agree.

I have done simultaneous exchange / completion when I bought a house and it all went tits up.

Until exchange you cannot confirm removals, organise post redirect, arrange phone and broadband, tell people where you are going, sort schools, doctor etc etc etc.

Two weeks gap at least unless you really want to have loads of extra hassle.

We had a week, I'd have preferred two - until exchange it can all fall through, so you don't really want to cancel all utilities, pay for removals or even really start packing until you are sure.

The only issue on a longer gap, is that from exchange you are responsible for the insurance.

I think the norm is a week. When selling, our buyer asked for a few months between exchange and completion. It was unusual, but we weren't too concerned. The people we were buying from wanted to go with ten days. There was a minor paperwork problem, caused by the seller's solicitor, when it came to exchange on the house purchase, so the original exchange date was missed but that still left a week to complete.

The good thing about having the keys for your new place for a few months is you can take your time about moving and getting the place just right. But I know not everyone can do that, we were fortunate that we were had the funds (plus a small bridging loan) so didn't need the sale of our house to take place before buying the new one.

I can't imagine doing the exchange and completion all on one day, house buying and selling is stressful enough without leaving it all down to the wire.

have heard a week is the norm.

we had 4 days and it felt very tight for time when packing stuff up - we'd fixed all broken bits previously for marketing our home sorted and taken stuff to charity/ recycling centre but didnt really believe it would happen until exchange sealed the deal, then it was panic and packing.

really stressful with only 4 days especially as two young children under 5 and no- one with three hours to take children away for a useful period of time.

Moved twice - had a week once and three weeks the other time.

There is no norm. Negotiate.

Same day here too but FTB I'm not sure if this makes a difference.
We had 2 weeks before moving in and that didn't feel long enough

We moved last Friday. We exchanged on the Wednesday and completed on the Friday. It was fine.

We’d already packed most things by then though so we ready to go.

I had two weeks last time and would hope for the same this time. Have a lot of addresses to change and then the removal to organise and as I’m getting full packing service it’ll be a big job so I want to make sure I can book it in time.

Both times its been the same day. I have known it be a few days or a few weeks.

My advice is never complete at 4pm on a friday. Always choose the beginning of the week so any problems can be sorted easily if they need to be. I've known people end up in hotels over the weekends with their stuff at friends and families houses because removals didnt turn up and the office was closed all weekend.

IME there isn't any set time. Some are simultaneous. Some are a week or so. Some are a couple of months. Some are six months. It all depends on the situation I suppose.