Closing Date, what does this mean?

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Andy_and_lou

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We are purchasing a house and the auctioneer was just on and told me they are hoping to close by a certain date, does this mean the keys etc will be handed over that day and we will be able to move in anytime after that date.

What about contracts when should our solicitor have these? The house has been Sale Agreed for the last 3 weeks and he hasn't received contracts yet, is this normal? Sorry if these questions sound silly ;-)

Thanks
 
Andy_and_lou said:
they are hoping to close by a certain date, does this mean the keys etc will be handed over that day and we will be able to move in anytime after that date.
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Yes - closing refers to the completion of the deal.
What about contracts when should our solicitor have these? The house has been Sale Agreed for the last 3 weeks and he hasn't received contracts yet, is this normal? Sorry if these questions sound silly ;-)
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Why not ask your solicitor these questions?
 
Thanks.

I did ask my solicitor but he said if property is mortgaged the bank will have to release the deeds (or something like that)but I presume the vendor's solicitor would have requested these when the house went up for sale. I know my solicitor wrote to the vendor's solicitor requesting same when the house first went Sale Agreed but he hasn't received anything yet. I'm in the process of selling my own house and as soon as I got a deposit the contracts went out immediately and I would be in the same position as these vendors ie I have a Mortgage on the property etc. Just wondered was this normal?
 
Sometimes sellers don't employ the services of a solicitor until a house goes sale agreed. This means that the application for release of the deeds won't happen until then and unfortunately, sometimes this process can take several weeks.
 
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