Part three of planning sees the pace go up and the final puzzle pieces fall into place. A lot of people are suddenly surprised that Exchange happens so quickly having waited on the searches and checks for 3-4 weeks plus the queries.
Be prepared that once the searches are back from the solicitor, you should be staring Step 07 Preparing for Exchange.
House Move Plan
‘’ Always plan ahead. It wasn’t raining when Noah built the ark’’ Richard Cushing
07 Preparing for Exchange
I recommend giving yourself a good couple of weeks to prepare for exchange. You will need to think about the items you need for exchange itself as well as doing your homework for items you’ll need to move.
- Preparing your deposit to transfer to the conveyancer
- Researching buildings and contents insurance
- Researching removal services and deciding if you will require packing, unpacking or storage
- Researching cleaning companies if you would like your new home cleaned before the removals arrive or need a post tenancy clean.
- Researching utility providers
- Researching broadband and TV providers
Now is also a good time to start packing, if you haven’t already.
The exchange itself takes 1 day. For it to do so, you will need to have:
- Agreed a completion date with the seller
- Transferred the deposit to your conveyancer
- Instructed Buildings Insurance
Please ensure you are 100% comfortable with purchasing the property. If you do choose to pull out of the purchase after exchange is complete, you will lose the deposit paid and the seller may take you to court for additional fees incurred.
09 Preparing for Completion
Now you have a date for completion, you can start to firm up on all the items you researched in step 07 Preparing for Exchange. This can take a few days, so I recommend not agreeing to Exchange and Complete on the same day, unless you are comfortable with the risk of booking the required services without legal commitment to buy the home.
- Transfer the full amount plus fees, minus the mortgage and deposit to the conveyancer
- Book removal services and packing, unpacking or storage if required
- Book the cleaning company if required
- Notify utility providers
- Notify broadband and TV providers
- Set up a Royal Mail redirect for all your mail
Next week we’ll look at steps 10 to 12. From Completion and beyond.
If you have any questions about these steps, please post them below.