The process of moving house can throw up many a question; but by far the most common is 'how long will it take? The answer? Another age old question... how long is a piece of string?
I have completed a matter in 4 weeks before and likewise a matter in 4 months. And in contrast to what is often heard, the length of the chain is not necessarily an indicator of timescales being longer or shorter.
How long until we complete?
If you are a first-time buyer, or buying a property from a deceased estate, it does not mean that you will complete any quicker than if you are in a four-person chain. We can only work as quickly as the slowest point in the chain.
If you are purchasing a property with a mortgage, then we can only discuss dates once we are in receipt of your Mortgage Offer.
If the Local Authority has a backlog on searches due to staff shortages/illness etc; then again this will cause delays as we cannot exchange until the search is received. These are unfortunately things that are outside of our control.
When are we exchanging?
Much like completion, there is no way to give a timescale to exchange.
When do I need to arrange Buildings Insurance?
You need to purchase Building Insurance upon exchange of contracts. The seller is not obliged to maintain insurance following an exchange of contracts and there it is important that you have adequate insurance in place. Please ensure you let us have a copy of your insurance and ensure that the property is insured for at least the full cost of rebuilding the property (reinstatement value) and in accordance with any Lenders requirements.
When will the property be cleared?
Some of my clients worry when they visit the house a month after putting in an offer that there are still items in the property which are not included in the Fittings and Contents Form. Please note that the seller does not need to vacate or clear the property until the day of completion.
What time can I pick up the keys?
Unfortunately, you cannot have a set time to collect your property keys. Again, this is outside our control. The Contract will specify a time for completion which is usually 2pm. But you can only collect the keys once the sellers Solicitors have received the funds. We have no control of the speed in which the banks send completion money.
Can I keep the keys over the weekend following completion so that I can continue to move out?
No, once the buyers money is received we must release the keys to the buyers. On the completion date you must leave the property and remove all your personal belongings.
This includes those items in the loft space and garden shed. If you were moving into a new home you would expect it to be empty and ready for you to make your own.You wouldn't want someone having a key to your property and coming and going to retrieve items.
If you are looking for any further advice about moving house, please do get in touch. You can do so either via our website, or by calling the Conveyancing Team on 0800 011 6666.
