Firstly, at what point do you pay the stamp duty and solicitors fees? Secondly, what date should I get my house insurance quote to start? We are exchanging contracts this week and hopefully moving next Friday or the 19th. Fingers crossed after 8 weeks things are drawing to a close...
Solicitors' fees and Stamp Duty are due on the day of completion. Your solicitor will expect to have cleared funds for this in place before s/he completes. Unless things have changed dramatically since I last worked in conveyancing, then a few days after exchange you should receive a Completion Statement which will set out all the incoming and outgoing funds and what you owe on completion.
As I've always understood it, buildings insurance should go on risk on the day of exchange.
Originally posted by Joolz S: Solicitors' fees and Stamp Duty are due on the day of completion. Your solicitor will expect to have cleared funds for this in place before s/he completes. Unless things have changed dramatically since I last worked in conveyancing, then a few days after exchange you should receive a Completion Statement which will set out all the incoming and outgoing funds and what you owe on completion.
As I've always understood it, buildings insurance should go on risk on the day of exchange.
