How long after contract signed?

Marchbride

Hi all,
Just wondering if any one knows the process after the contract is signed by both parties? We signed last Mon and the vendor signed Wednesday. Also, what is the process for handing over the keys?
Thank you

on_my_oe

No idea, but great news that they signed - the end is in sight for you

Trish56

Check with your Solicitor as the contract usually includes an agreed closing date between the vendor and buyer. Both Solicitors will meet on the closing date to complete the purchase and hand over keys.
Best of luck in your new home

Marchbride wrote: »

Hi all,
Just wondering if any one knows the process after the contract is signed by both parties? We signed last Mon and the vendor signed Wednesday. Also, what is the process for handing over the keys?
Thank you

Marchbride

Thanks a mill for replies and congrats been a long long road!
The vendors didn't put a closing date so we put one in but we're ready to go before then.. We're just waiting on bank to issue funds. So I was just wondering how long that normally takes?

Diane Selwyn

Same thing here - vendor didn't nominate a closing date. We originally said 5th June (the sale was agreed on 3rd March) but they still didn't even have all the documentation to my solicitor in time for that, then we found out they are going away on holidays from 17th so we said 16th (Monday) & I spent last week confirming all the insurance was in place - got the last bit of documentation to the bank on Friday morning and my solicitor confirmed that the funds had been transferred on Friday afternoon. The bank staff were very helpful once they knew I was short on time to get it sorted but don't wait to hear from them that they are missing something or expecting something - be sure to keep calling until you know its all ok to go! I'm actually still not confident of the vendor having their stuff together for Monday as they have proved consistently disorganised throughout the whole thing but I'm hopeful. Good luck with your closing!

Marchbride

Wow there was a lot of messing around there Diane wasn't there? That's annoying. So just so I am reading it right, had the vendors actually signed the contract or were they stalling? What documents did the bank need? That's the last thing we need now. We signed contract on 9th June, the vendors signed 11th and this was confirmed. We had to put 26th as closing date as our solicitor is away from Monday for a week but she has asked our bank (KBC) to have mortgage ready to draw down on the day she is back, 23rd. So we're praying this will be the day we get keys. As we're living out of a suitcase with 2babas at mo with everything boxed up! Nightmare! Best of luck with it Diane I hope you've your keys very soon

Diane Selwyn wrote: »

Same thing here - vendor didn't nominate a closing date. We originally said 5th June (the sale was agreed on 3rd March) but they still didn't even have all the documentation to my solicitor in time for that, then we found out they are going away on holidays from 17th so we said 16th (Monday) & I spent last week confirming all the insurance was in place - got the last bit of documentation to the bank on Friday morning and my solicitor confirmed that the funds had been transferred on Friday afternoon. The bank staff were very helpful once they knew I was short on time to get it sorted but don't wait to hear from them that they are missing something or expecting something - be sure to keep calling until you know its all ok to go! I'm actually still not confident of the vendor having their stuff together for Monday as they have proved consistently disorganised throughout the whole thing but I'm hopeful. Good luck with your closing!

Diane Selwyn

I don't think they were even stalling as such - just disorganised and with an apparently unusually elusive solicitor. After about 10 weeks of waiting for contracts I made a veiled threat through the EA that I was going to pull out of the sale and they arrived the next week but still missing some of the documentation relating to their original mortgage - it was taken out in 1996 so I assume they or their bank had lost the documents. I signed in mid May but my solicitor couldn't return the contracts till we had all the documentation. We gave them 3 weeks to close but only got the rest of their info right on the nominated closing date. My solicitor sent the contracts straight back and then found out they are going off on holidays so stupidly, after waiting nearly 4.5 months I only got 4 days notice of the new closing date. I had been holding off activating the insurance policies so that was all my bank was waiting on - once I had the policy info in to them they were ready to release the funds.