Posted on Friday, October 13, 2017
the day is finally here !! How exciting. In an ideal situation, there are a few weeks’ notice between exchange of contracts and the completion date but this can vary, dependent on circumstances, so always check with your solicitor.
Planning your move is essential to a smooth moving day, so here are some tips:
When completion day arrives the most common question is “what time can I get my keys?”. Answer is; there is no set time! Your solicitor has advised you it’s all gone through at 9:30am but you don’t receive a phone call until mid-day to advise you to collect your keys. Why is this? No, it’s not because the estate agent is sat around chatting drinking coffee completely forgetting your sat in your van raring to go. It is simply because an estate agent cannot legally release keys until the seller’s solicitor has confirmed the funds have reached their account – this is when the transaction has completed. Money can be released from the bottom of the chain at 9am and not reach the sellers solicitors for an awfully long time however, there isn’t much anyone can really do. Your money is currently floating around waiting to find its destination and patience is your only virtue!
Once funds have reached the seller’s solicitors, those funds need to be transferred upwards (if you are involved in a chain that is) leaving the vendor virtually ‘homeless’ at one point. Their sale has completed but they have the eager wait to get their keys now therefore, it is always polite to remember this.
Once you have your keys, the world’s your oyster! Enjoy your new chapter and top tip, don’t forget your agent! We here at Hawkins Sales and Lettings will always be on hand to assist with any problems that may arise either on the day or in the future.