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Original poster

Why do exchanges and completions tend to happen on Fridays?

15 replies

ALbigbump · 16/12/2021 17:16

Just that really. Seller’s solicitor has gone AWOL again but as far as we know everything is in place. Could she surprise us and just exchange tomorrow?

OP posts:
halcyondays · 16/12/2021 17:20

Because then you’ve got the weekend to unpack and settle in, if you work Monday to Friday.

Original poster
ALbigbump · 16/12/2021 17:27

Our seller’s solicitor doesn’t give a shit about anyone she’s kept us waiting and waiting and waiting so I don’t buy that!

OP posts:
senua · 16/12/2021 18:03

Could she surprise us and just exchange tomorrow?
ConfusedAn exchange is an agreement between two parties. She can't do anything you don't agree to.

ProcrastinationIsMySuperPower · 16/12/2021 18:06

Due to my parents' bad experience - where there was a banking hitch on their purchase after their sale had gone through, leaving them high and dry until the Monday - I actually wouldn't ever complete on a Friday!

Flamingolingo · 16/12/2021 18:07

We try to complete on a Wednesday

GutsInMay · 16/12/2021 18:08

I never choose a Friday.

Removals are harder, glitches harder to sort etc.

EllieSattler · 16/12/2021 18:09

@senua

Could she surprise us and just exchange tomorrow? ConfusedAn exchange is an agreement between two parties. She can't do anything you don't agree to.
We were ready to exchange for ages but our seller dicked around a lot. It was, in fact, a complete surprise to get a phone call from my solicitor telling us they had finally exchanged contracts.

We were at the end of a chain and our sale only completed at around 4pm on a Friday. We would never have completed our purchase on time. Thankfully (due to the aforementioned dicking around) we had agreed to complete the purchase on the Monday, having stayed in a hotel over the weekend with our furniture in storage. Sale was complete around 11am.

Seller hadn't moved out at 1pm but that's another story!

DameCelia · 16/12/2021 18:09

People always want to move at the weekend if they are working.
Friday at the end of the month is the pits, lots of money going through the banks to pay people.
Last Friday before Christmas is horrific .
And as a PP says, your seller's solicitor can't exchange all by herself so can hardly 'surprise' you Xmas Confused

Constance1 · 16/12/2021 18:12

We did it on a Thursday in case there were any last minute hitches, plus removals were considerably cheaper.

Original poster
ALbigbump · 16/12/2021 20:57

@senua
We signed the contracts last Friday and transferred deposit yesterday, our solicitor requested mortgage on Tues on the advice of the EA

OP posts:
Roselilly36 · 17/12/2021 08:49

@Constance1

We did it on a Thursday in case there were any last minute hitches, plus removals were considerably cheaper.
Us too, completion day was an absolute nightmare for us, didn’t get our keys till 16.10. We were really starting to worry that we would have have to book a hotel for the night.

Really pleased we insisted on a Thursday, when everyone in the chain was wanting a Friday, but we were relocating so our move was more complicated than the rest of us in the chain.

It was a very stressful day, imagine if completion fails (very rare, granted). But if you don’t complete on Friday then you won’t be until the following Monday.

Greenandcabbagelooking · 17/12/2021 08:56

I completed on a Monday. I'm a teacher and it was the first day of a holiday. I had the weekend to pack up, then move on Monday, rather than trying to pack and work to move on the Friday.

senua · 17/12/2021 10:20

[quote ALbigbump]@senua
We signed the contracts last Friday and transferred deposit yesterday, our solicitor requested mortgage on Tues on the advice of the EA[/quote]
I don't understand. In your OP you talked about "exchange tomorrow". Now you say you "signed the contracts last Friday".
Are you saying that the contract was signed but not dated? If you agreed to that then that's up to you. You can't agree to have an open-ended date and then complain about 'surprises'.
If you have a strong view then communicate this to your solicitor and they will communicate it to the other side. If you don't have a strong view then what are you complaining about?

I presume that you don't actually have a problem with the legal situation but are just letting off steam in a rant. Not uncommon!Grin

Original poster
ALbigbump · 17/12/2021 10:45

@senua we have done everything our end but our seller’s solicitor won’t exchange yet pending our client’s onward purchase which she is dragging her heels on. We’re ready and waiting to exchange but can’t without seller’s solicitor

OP posts:
Mildura · 17/12/2021 12:47

I don't understand. In your OP you talked about "exchange tomorrow". Now you say you "signed the contracts last Friday

There is a significant difference between contracts being signed and contracts being exchanged

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