When contracts are exchanged a date is set for the legal completion and this is the day on which you move.
Sale
Services
Prior to moving you should notify the companies which supply you with electricity, gas, water and other services of the moving date and your new address. You should also arrange for your telephone line to be cut off on that date.On the day you move out you should read the electricity, gas and water meters to allow the various companies to calculate your final bills.
Keys
Please also let us know what you will be doing with the keys to your property on the day of completion – you can either arrange to hand these over directly to the buyer or to leave them with the estate agent who has handled your sale.Timing
Strictly speaking, vacant possession of a property on completion day must be given by 2pm and this applies to both your property and the property you are buying. However, people are usually a little flexible about the time at which the property is vacated.Regardless of when the property is emptied, if you are handing the keys to your property over directly to the buyers you should not do this until we have received the sale proceeds into our bank account. We will confirm to you when this has happened. If you are taking the keys to the estate agent you should do this as soon as you have emptied the property as the agent will not release them until we confirm that they may do so.
Purchase
Services
When you move into the property you should take meter readings in respect of the electricity gas, etc and also notify the Local Authority, telephone and any other service providers of your details and move date.Keys
On the completion day the keys to the property will either be handed over directly to you or available for collection from the estate agents. We suggest that you liaise with the seller about where the keys will be.Timing
Strictly speaking the property should be empty and available for you by 2pm. However, people are usually a little flexible about the time the property is vacated but the keys must be available for collection by you from the agent or the seller by the close of business on the completion day. The keys will not be handed over until the seller’s solicitors have received the money in their bank account. Again, strictly speaking this should be received by 2pm but this is not always possible and particularly in a chain of transactions the money can be received late in the day.If for whatever reason the monies are not received on the completion day then penalty interest and other costs incurred by you in relation to your sale are due to you from your buyer. However, if you are buying another property you are liable to pay similar interests and costs to that seller.
We will need to contact you on the day of completion – please therefore ensure that you are contactable. If possible please let us have a mobile telephone number on which we can contact you if we do not already have this. Please also ensure that the mobile is switched on and audible to you throughout the day.
If you do not have a mobile phone, please arrange to telephone us so that we can keep you informed of how the matters are progressing.
