Downsides to same day exchange/completion?

[Whoknewher]

The process has taken slightly longer than expected so I'm keen to exchange/complete as soon as possible.

It's been just over a week since my solicitor sent her enquiries so hopefully we'll hear back in the next week or so.

I was going to ask if we could exchange/complete on the same day but are there any cons that I need to consider?

For context, I'm a first time buyer, no chain and the property is vacant. I'm renting at the moment from a family member so won't need to give notice or move out straight away.

I’ve done it twice. One issue with a form missing at exchange, and I had already drawn my mortgage funds which had to go back again. Cost an extra £50 or so, and a week’s delay for funds to be returned and re-requested.

I wouldn’t do it if scheduling removals, but otherwise it’s no big deal.

I did it as was cash buyer and was a probate sale so no chain-couldn’t see why not to. .

We have moved many times. Only once did we try and exchange/ complete on the same day (into an already vacant house) and we will never do it again. We had booked the removal company , the van was packed, then we heard from the solicitor just as we were due to set off on the journey there that the purchase completion couldn't go through as they had found a document problem (the seller's side).

The solicitors managed to agree for us to have access to the house but only after many hours of negotiation and stress, and the actual sale went through a couple of days later, but there was no guarantee of this- we would have been left with huge bills from the removal company and hotel costs.

I agree problems are rare but when they happen it's a nightmare. It's safer to exchange first then complete a week or so later in case you are one of the rare cases where things go wrong!