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Original poster

Removals with same day exchange and completion

29 replies

Candycane2020 · 24/12/2020 09:46

I’ve heard that same day exchange and completion is quite normal (we have never done this before and always had a delay!). So now I’m worried about removals. We are using a full packing and moving service with costs quite a bit. They want a 50% non-refundable deposit which we lose if we don’t give at least 10 working days notice of a change of date. Or we will lose 100% is there’s a problem on the day. Do we just have to take the risk?

OP posts:
Mildura · 24/12/2020 11:26

Difficulty arranging removals is just one reason why simultaneous exchange and completion is in fact very rare.

Far better to have a week or two in between.

FatGirlShrinking · 24/12/2020 11:51

We did it, they came and picked everything up and loaded the van in the morning.DH went to the estate agents while I followed the moving van, then we had about a 15 minute wait said outside the new house while we waited for keys.

Then everything unloaded into the right rooms which was very quick and we were ready for unpacking.

PastMyBestBeforeDate · 24/12/2020 11:56

We had insurance in case we needed to rearrange but I don't know if that's available for exchange and completion on the same day.

titchy · 24/12/2020 11:58

Honestly don't do it. You cannot guarantee the bank will be able to transfer the funds with no notice. Have a few days at least.

mountains76 · 24/12/2020 12:48

it's always stuck me as a bad idea.

Goldrill · 24/12/2020 12:53

We had to do it in October and it was a massive dose of stress at the end of a generally painful process. We were very slightly beyond caring, which helped.

But, yes; we signed all the stuff to book the removals when we were 90% sure it would all go through. We had worked out how much it would cost to ask the removals to store everything over the weekend (moved over two days due to distance), but if it had all been delayed seriously, we'd have lost a few thousand.

Really dreadful idea and I would avoid it if at all possible!

GU24Mum · 24/12/2020 14:33

It's become a bit of a "thing" since the first lockdown but it makes an already stressful process far worse for everyone concerned!!!

OUB1974 · 24/12/2020 15:23

We refused same day, for many reasons, one of which was removals. I'm glad we did as our exchange was delayed by 2 weeks in the end (and not all in one go - we were told "today is the day" every day for 2 weeks).

Having to keep changing the removals was probably the most complicated part as it was - same day would have made it impossible. (Although I can see why some solicitors like it due to covid - my son had to self isolate between exchange and completion and had we not already been in our new home we'd have had to change completion date then!).

Tickthosefleas · 24/12/2020 15:31

If exchange/completion on same day is unavoidable then I would consider using a storage facility as an in between. Does mean either doing second leg yourself or paying for two lots of transport though!

Original poster
Candycane2020 · 24/12/2020 17:03

Our buyer is insisting on same day so we can’t do much about it. Worried!

OP posts:
WhatKatyDidNxt · 24/12/2020 17:05

We did it but we were first time buyers at the time. Most likely won’t do it for our next move. As we are buying and selling, plus chains seem so fragile especially at the moment

OxoMonarch · 24/12/2020 17:09

We are hiring a storage unit in the New Year and packing as much as we can into that to make the moving process easier. I'm dreading the move - not helped by the fact that DH loves the new house and I'm meh about it.

titchy · 24/12/2020 17:27

@Candycane2020

Our buyer is insisting on same day so we can’t do much about it. Worried!
Of course you can - you can just say no, you want at least three days between exchange and completion. They will have committed far more financially to buying yours than you have in selling to them.
Pipandmum · 24/12/2020 17:34

I've done it but was told that it wasn't normal at the time, and I was a cash buyer as I don't think mortgage companies like it much. But seems more common now.
I've never paid a deposit to a mover.

ColonelNobbyNobbs · 24/12/2020 17:40

We did it (seller’s choice) and on the day there was delay with his mortgage funds for his new house which meant we didn’t get keys til the following evening as even though our funds were gone through, we couldn’t complete until he completed on his new house. As we were in rental it didn’t really matter as we weren’t going to move for a couple of weeks but he had to pay a fortune to the removals company to keep all his stuff overnight and he had to go and stay at his mum’s!

ColonelNobbyNobbs · 24/12/2020 17:40

So I would say no!

Therealone · 24/12/2020 19:49

Our buyers wanted it, we said no.

MeepleMe · 24/12/2020 19:56

Would highly recommend against it. We said no when our buyer's buyer asked, but then the proposed exchange day came and went and no exchange, then no completion although he kept saying it would happen today. We lost one lot of moving fees. His underhand methods meant he got what he wanted all along. Long stressful story but essentially we had to take the risk or pull out of the whole sale so we did, in the knowledge that we'd either lose fees again or lose the house we really wanted. It did work out in the end but was such a horrible experience.

Original poster
Candycane2020 · 25/12/2020 00:46

Oh wow I’m dreading this then. I don’t know what else to do. We really need to sell so we can move!

OP posts:
Murinae · 25/12/2020 00:51

We did it but the sellers had already moved out and we still had somewhere to live as we weren’t moving in straight away so it was less risky.

CatAndHisKit · 27/12/2020 02:30

Just give this reason to the buyer/seller, and insist on at least 2 days inbetween, OP.
I can't imagine why would they object - if there is an exception reason then ok, but if they can't give that, then insist. They won't walk away over this.

Yesbutisittouching · 27/12/2020 05:44

There is quite a lot of stories in the press of mortgage offers being pulled by the lender after exchange. It is highly unethical IMO and does affect everyone in the chain. Exchange and completion the same day reduces the ability of the lender to do it. Maybe get the agent to check if this is your purchasers fear? I agree if it is not a cash sale it does pose a greater risk for everyone but if the chain understands this is what is going to happen it can work. Providing no one is using el cheapo conveyancing who intends to ignore every request until 30mins before exchange... 🙄Obviously there is an added complication if you have a full packing service. Could you compromise on that part and do the packing yourself?

user1471538283 · 27/12/2020 08:11

Go back and say no because you cant get removers. Removers here are so busy they are working at night. Having a couple of days or a week will soothe your nerves

shallbe · 27/12/2020 08:19

Can you really not demand a week between, why are they so desperate for both to happen, can you not explain your worries?

If not I would go for a cheaper move option that would be financially less risky. We paid a man with a van (he had a Luton) and he brought his teenage sons, he did our whole 4 bed house move 20 miles away in half a day for £200, though I gave him more as I was very impressed.

HeddaGarbled · 27/12/2020 08:37

Our buyer is insisting on same day

I’d be worried they were trying to pull a fast one, like reduce their offer on the day when everyone’s committed to the move.