can i ask a stupid question???

12 replies

sashmum · 26/02/2008 15:34

if we have signed contracts and they are exchanged friday, how long before its completely done and dusted?

OP posts:

LIZS · 26/02/2008 18:02

If hosue is empty and no chain then you can exchaneg and complete same day.

kando · 26/02/2008 18:05

They usually allow 5 working days between exchange and completion - that's what they've done all 3 times we've bought properties.

sparklesandwine · 26/02/2008 18:12

ooh this is interesting we're due to exchange either next week or the week after (if they move their arses!) and i was wondering this too

LIZS · 26/02/2008 18:16

It is more "normal" to leave a week or so in between to organise logistics though, especially with a chain involved.

CarGirl · 26/02/2008 18:20

usually the maximum between exchange and completion is 2 weeks but it can be mutually agreed and specified as any length of time I believe.

MrsBadger · 26/02/2008 18:30

you can specify any time

we'll exchange before easter but don't complete till 20th July

Blu · 26/02/2008 18:57

The date of completion is part of the contract and will be specified at exchange, so discuss this with your solicitor and make sure completion is set for a day that suits you. It can be on the same day as completion, but may be a couple of months in advance if there are people in a chain who don't want to move until the end of a school term, for example. Make sure you can get a removal van etc for the day specified for completion. Are you selling and buying or just buying?

Once you have agreed a completion date on exchange you cannot change it or 'fail to comeplete' without penalty.

Original poster

sashmum · 26/02/2008 19:39

thanks everyone, we aren't buying any where else, selling MIL house as she has passed away, we have sold to a property developer who is a cash buyer and wants everything sorted out asap. my DH and BIL are dealing with it all and DH away all week so just wanted to know how much longer condidering everyone wants its done quickly. there isn't anyone else in the chain

OP posts:

missingtheaction · 26/02/2008 19:45

quite often in a long chain it can be as much as 4 weeks - but in your case there is no reason why it should take much time at all.

Blu · 26/02/2008 20:50

could be Friday, then!

Original poster

sashmum · 26/02/2008 21:23

god i hope so

OP posts:

mustrunmore · 26/02/2008 21:25

Just be careful, as some conveyancers charge alot extra for 'quick' completions after exchange.

Flip