thanks to everyone that helped me before but ive got some more to add to my confusion!
1) picked up contract from sols today and i am due to go in and sign on friday.... is this exchange? if not when is exchange and then how long after that can i get keys
things to note... i am first time buyer (i know youve guessed by now!) and there is NO CHAIN the property is vacant as of three months ago!
Originally posted by lulu2225: thanks to everyone that helped me before but ive got some more to add to my confusion!
1) picked up contract from sols today and i am due to go in and sign on friday.... is this exchange?
No, this isn't exchange. However, there *may* be no reason why your solicitor can't exchange contracts on Friday after you've signed. That is presuming that everything else is in place ready for exchange. I'm sure that your solicitor will explain this to you on Friday.
quote:
if not when is exchange and then how long after that can i get keys
I'm afraid that this is the same question as how long is a piece of string! In most cases, completion (that is when the property becomes legally yours) happens around two weeks after exchange, but that timescale isn't set in stone.
If I recall, I went and signed my side and the contracts were exchanged the next day, then I met the vendor at the house on their leaving day and we exchanged keys between ourselves, saw no sense in them having to involve a third party.
*It is not necessary to understand things in order to argue about them. -- Pierre De Beaumarchais
You can have as much as a month between exchange and completion. I originally saiid two weeks but had to extend by another week as I hadn't got anywhere to go. Couldn't look for anything as I didn't know if it was actually going to happen. I did have it in writing from my solicitor that I had to vacate my shoebox by 1.30pn on the Friday so I actually moved the day before and handed keys to EA the next day after I'd finished cleaning up.
