Completion Day – What to expect – how to prevent delays
This is what you have been waiting for, it is D-Day, it is completion day, your deposit has been paid, the contracts have been signed, you already have insurance in place on the property (if not call us today on 01702 619 221) and moving day has arrived, so all that is left to do today is for the money to be transferred from your mortgage company to your solicitor, who will marry this up with any additional funds that you have paid to them (additional deposit money) and send it to the vendors solicitor, this all sounds very simple but in fact this can be a long and drawn out process, especially if you are a part of a chain, if the moneys are not all transferred by 3pm then the completion cannot take place until the next working day which can cause problems.
From your side all you can do is wait to be told that it has completed and that you can pick up your keys from either the new property or from the estate agents office.
To prevent any delays from your side you can follow the checklist below to ensure you have covered every aspect.
- You have signed your contract, (for both selling and buying if you have a property to sell)
- You have your completed mortgage paperwork and you have signed and sent back any agreements required
- Your mortgage company is aware of the completion date
- Your solicitor is in possession of any deposit money from yourself (not already paid to the vendor)
- Your solicitor is in possession of your stamp duty money (or aware that it is to be taken from the money from the mortgage company)
- You have checked all of the sums and that all monies add up to what you have agreed to pay for the property, as outlined in your signed contract
Preparation for moving
There are many decisions to make in preparing to move first and foremost you need to decide if you are moving yourself or hiring a removal company, there is no right or wrong decision here, just make sure you have enough hands to help if you are planning on moving yourself. You need to book a van or removal company as soon as you know your moving date, if hiring a van yourself make sure they are aware that it is for a house move most are a little more lenient if you have to change your dates for a house move. If you are using a removal firm make sure they are going to cover what you are expecting of them, ie if you want them to pack everything too, also check with them to what level you need to pack, certain higher value or breakable items they may ask that you leave for them to pack as it is then covered by their insurance.
Make sure you are organised, if you are packing yourself, everything but essentials for moving day should already be packed in a box with a label for the destination room at the other end. Print a copy of the floor plan of the new house and label the boxes according to the names of the rooms on the floor plan, that way anyone who is helping you to move will know exactly where you want things to go.
You will want to make sure that you have your kettle and drinks making equipment to hand when you first arrive, probably along with cleaning materials so make sure you don’t bury these too deep in the van.
If you are a first time buyer you will need to contact utility suppliers to arrange contracts before you move, if you are moving home you will need to contct your existing suppliers and advise them of your move to ensure that they are able to supply you with the same utilities, (gas, electricity, water, phone, broadband, television). You will also need to make sure you take meter readings at your old property and new property when you arrive. Following completion You will need to contact the council and make sure that you are registered at your new property and de-registered from your old. You may also wish to have post forwarded for a while from your old property.
Once you have moved in make sure you keep all of your important documents in one place, buy a folder and put them all in, including, your mortgage agreement, any other contracts (utilities, solicitors, estate agents, etc) any guarantees that came with the house, (NHBC, Window, Doors, Heating etc) this way you do not need to panic when next you need them.
After all that time and effort you are now the proud owner of your new home. You can put your feet up and survey all that is yours, for about five minutes before you start redecorating every room in turn.