Buying and Selling
If you are selling your own property and buying a new property at the same time, please bear in mind the following points:
Purchase Chain
In most cases contracts for both the sale and purchase will need to be concluded on the same day (unless you have alternative accommodation to move into temporarily or have arranged a bridging loan). We will endeavour to ensure the transactions on both the sale and purchase are concluded as efficiently as possibly and do our utmost to avoid any delays as this can prove expensive and difficult.
Completion Day
You will not be entitled to move into your new property until the money has been paid to your seller but you will have to vacate your old property as soon as your buyer’s money has been received by us. This usually means that you will have to move out of your old house in the morning and will not move into your new property until the afternoon. Please make sure you have made this situation clear to your removers as there may well be a period of time when your possessions will need to remain in their van or even stored somewhere until such time as it is confirmed that your money has been paid to your seller.
Completion day has to be a week day as the monetary transactions have to go through the banks. Many people opt for a Friday completion day as they have the weekend to sort themselves out in their new home but as this tends to be the most popular day, there can often be delays. This could result in a problem not being resolved until the Monday morning and you could then find yourselves in the situation of having to find alternative accommodation for a couple of days. It may therefore be wise to pick a different day so that if something does go wrong within the chain, the problem can be resolved the following morning.
Helpful hint, removal companies often charge less when you choose a day earlier in the week!
All the information on this site is provided for guidance only, you must always speak to a qualified Solicitor for accurate information regarding your own personal situation.