timing of house move

[leesider]

I am sale agreed ( with contracts signed) on my existing house and am about to sign contracts for a new house. I need to use some of the equity from the sale of my home to complete the sale of the new house.
The proposed completion dates of both the sale and purchase are end of October.

I assume that I will need to allow some time between the completion of the sale and completion of purchase in order to allow time to deposit the relevant money from the sale. Is there anyway that I can co-ordinate the closing dates for both houses so that I can move directly from my existing house to the new house.

Any advice appreciated.

 

[huskerdu]

We managed to do everything in one day.
Talk to your solicitor about this.
You solicitor should be able to co-ordinate both closing on one day,
and facilitate the various cheques needed to move around the system
to complete both sales.

 

[mf1]

It is certainly possible but can be extremely difficult as there is little margin for anything going wrong. Possible issues that can arise:

1. Illness of any of the parties involved.
2. Difficulties with loan funds issuing - this is currently a huge problem with certain lenders- if you do not have the funds in place, it all collapses.

mf