Don’t get your fingers burnt on moving day get the “Removal Day Waiver”
What happens when you find out from your solicitor on removal day that the money is not going to be transferred and you cannot move into your new home? Your purchaser is moving into your old home and you have nowhere to go? Your removal company need to know what you want to do with their lorry full of your stuff. This has got to be the ultimate removal nightmare!
On Removal day when buying and selling (Completion day) the money comes from the first time buyer up through the chain and the Solicitor will only authorise release of keys once the funds have been received. The nearer the top of the chain you are the more likely the chance of late release of keys or non release of keys. There is also the possibility that the money is received for the sale of your property but not for the purchase of your new one, in this instance you would not be able to move back into your new home should something go wrong. The usual deadline for transfer of funds is 4.30pm, although in some instances solicitors will agree an undertaking between themselves if the transfer is too late to allow the keys to be released, and will complete the transaction the following day. This is not always possible and it can be the case that the move will not go ahead.
It is unusual but it does happen we have had 2 examples in the last year one was because the money didn’t reach the right account, this resulted in us having to hold the goods over the weekend and re-deliver on the Monday, the client had booked an unpacking service as well for the Saturday. He lost this money and had to pay for the move again. We waived the storage charge. At that point we didn’t have a waiver in place for this event. The other one was even worse the client was moving his elderly parents to Northampton, the move didn’t go through and the estate agent wouldn’t even let our crew unload the furniture to save the additional removal. There would have been no risk as the client would have stayed in a hotel until it completed. As a result we had to bring the lorry back to Essex and complete the removal a few days later. We gave a discount but the additional costs still ran into 4 figures.
It is mainly for these reasons that I have decided to offer a waiver to cover the costs of additional removals & storage.
So if your in a chain and you are hoping to collect the keys and move in on the removal day, think twice and consider for the small cost of the Removal Day Waiver as it could be a real godsend if the worst was to happen.
Some possible reasons for the move not going through are-
- The Solicitor makes an administration error and cannot complete the transaction on the day.
- The person responsible for sending the money types in the wrong account number.
- The computer system crashes and causes the transaction to collapse.
- The first time buyer doesn’t have the correct funds to transfer as they didn’t pay the initial deposit.
- There is a power cut.
- Plus many more unforseen reasons…
This is how it works:-
- The Removal Day Waiver is ONLY available if you have exchanged contracts before Removal day.
- You can take out the waiver at any time from payment up to two days before Moving.
- The Waiver is not available on the removal day, or the day before.
If the waiver is taken out it will cover you for all additional removal and storage costs if access to the new property is not possible on the day.
If the chain collapses as a result and storage is required the waiver will cover the first 2 weeks only.
Please call our friendly office for more details.