Simultaneous exchange & completion on a property

[NanaStrikesAgain]

Can people tell me their experiences of exchanging and completing on a house sale / purchase on the same day please.

We are selling our house and there is no chain as we’re moving in with family. Our buyers are currently renting a house so they have nothing to sell and won’t be moving in straight away as they want to redo the driveway/path before they move in. Buyers are getting a mortgage.

The buyers have suggested we exchange and complete on the same day. It feels like this is a good idea but I don’t know if I’m missing something?

Yes, the house we eventually got is much better and on the same lane!

We definitely dodged a bullet as the house we were buying actually partly fell down and had to be demolished. It's had such a huge impact on the people who bought it who had to have it rebuilt.

@Bulbsbulbsbulbs

Oh my! Glad that it all worked out for you, but those poor buyers!

I’ve seen this come up before. It can work, but it’s one of those things where it really depends on the buyer’s mortgage and how their solicitor is set up, so definitely worth getting your own solicitor’s view on it.
From what I understand it’s more straightforward when there’s no mortgage involved, but with a lender in the mix there can be extra timing and admin to line up on the same day.