Question about buying a house process

[JcHcks]

So we're in the middle of buying a house and we have had all the searches and queries come back and now the solicitor is sending out the 'report' today for us to sign and return. After we send this back what happens next? Do we exchange and then agree a completion or do we agree a date before exchange? Will the solicitor just exchange once they've received the paperwork back from us? Just worried as we have to give notice on our rental property on the 14th

I would call the solicitors and say something like, "I'm dropping the paperwork in the post today, I'd like to exchange on 7th and complete on 10th. Please could you check the seller can work with that, and also let me know if there is anything else you need from me?"

You agree the dates for exchange and completion before you do it. Completion is, normally, at least 2 weeks after exchange and is written into the exchange agreement as at that point it becomes legally binding - if you have to pull out after exchange you can but you will forfeit your deposit. So you need to talk to your solicitor and estate agent about the dates and make sure they know what dates you are working towards. The dates will depend on whether you are in a chain or not. You may be ready to go but others in a chain may not be.
It's an odd process because you don't have total control over the speed with which things happen. Keep in regular touch with the solicitor and make sure they are keeping in regular touch with the seller's solicitor and not just trusting that things will happen.

Tell your solicitors you need to give notice on 14th February. Ideally you'll want to have exchanged by then, as that is the point at which your contract with your seller becomes legally binding.

I'd get discussing completion dates with your chain now and tell them when you need to give notice on your rental. The estate agent will do the contacting for you.

Completion can be any weekday, with at least a week between exchange and completion if anyone is getting a mortgage.

Once you have agreed a completion date and everything else is ready to exchange, your solicitor will ring you to get your permission to exchange. They will then ring your seller's solicitors to do the exchange and ring you again once they're done.

JcHcks how long did your searches take if you don’t mind me asking? We are a week into waiting for ours and we are hoping it won’t be much longer.

@mrsdaz I think it was about 2 weeks