I am hoping to move shortly. How is the actual moving date decided? I would like to move on a Saturday so I do not need to take a day off work.
The moving date (known as the completion date) is usually decided when everyone in the chain is ready to sign their contracts. Sometimes, when there are a lot of people in a chain, it can be difficult to reach agreement although it is extremely rare that a sale falls through because agreement cannot be reached about a completion date. In a typical case someone in the chain will suggest a date which suits them and that date is passed on to all the others in the chain. If everyone can agree the date then that is settled. Often someone will not agree the date and will suggest an alternative date and again that is passed on up and down the chain. This process will continue until everyone is happy with the date. Often this process is handled through the solicitors or estate agents but sometimes, particularly when there are only a few people in the chain, the buyers and sellers speak to each other direct and sort the date out.
The legal completion has to take place between Monday and Friday as the majority of legal firms are closed on Saturdays and in any event purchase monies have to be transferred through the Chaps transfer banking system which is only available Monday to Friday. If you are only buying then there is no reason why legal completion cannot take place on a Friday and you can move in on a Saturday or even later if you wish. However if you are selling then you must move out on the completion date as your buyer will have paid for your house on that day and is entitled to move in. In that case you will have to take a day off work to move.
If any readers require any further assistance or advice on tenancy or conveyancing matters they should contact our conveyancing department who will be happy to discuss your requirements. Please also note that we prepare HIPS for sellers on a very competitive basis when using our sale conveyancing package. Further details can be supplied upon request.
For further details contact Jacobs & Reeves. http://www.jacobsreeves.co.uk
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