Juggling settlements of both houses on same day??

Hi folks

We have sold our house and purchased a new house and we managed to arrange settlement for the same day.
We thought this was fantastic because last time we bought and sold, settlement was different days and we had to move out, put stuff in storage, stay at mums for a few weeks, then move into new house when settlement came through (essentially, move twice).

But, now I am trying to figure out the logistics of moving when settlement is the same day because essentially we will only have keys to one house at a time so we have to be ALL out of one before we can move into the other.

How have others managed settlement on same day?

Ceebs

First:- Will the bank let you settle on the one you're purchasing before you settle the one you're selling.

Can't you speak to your solicitor and change one (or both) by a few days?

You only need a few days (a week would be better though) to move from one to another.

If you haven't left it too late it shouldn't be a problem with the purchases/ vendors.

Otherwise load up the truck and sit it there for 2 days.
You could delay settlement on selling but this would cost you.
Situation not good if you can't change it.

Hi Travelbug

I don;t see how we can settle on the one we are purchasing before the one we are selling - as the one we are selling has to fund the one we are buying. Ie, we would not have the funds to settle on the one we are purchasing until we settle the one we are selling.

Yes, I think we are either going to have to load up and leave it in the truck overnight (and possibly even have two trucks so that we can be sure everything is out of the house) - or - we realised that the house we are moving into is vacant so we might see if the vendors on the house we are purchasing would let us 'rent' for a week/few days prior to settlement so that we can slowly move our stuff over.

I thought this was going to be the easier option but it seems not necessarily so.

Thanks for trying to help Travelbug - I appreciate it.

Ceebs

Yeah. I thought the bank might not like it.

Good idea with the early entry. I'd try that. Ask if you can have early access. Solicitors don't like it but if you can get in contact with the owners you have a better chance. Or as you said offer rent for the week.
If they don't like the moving in bit see if you can at least drop stuff off. That way you haven't taken possession but are simply putting goods in there. There is no risk for them in that. If you don't settle, they'll have your stuff.

Good luck.

I did it quite easily. Settlement for the house I sold was at 2pm and settlement on the purchased property was at 2:30pm on the same day. The removalist loaded up the truck and I was out of the sold house with all my possessions sitting in the van at 1:30pm, I handed the keys in at the RE Agent and then went and sat at the RE Agents office to wait for confirmation settlement had happened so that I could pick up the keys to the new place.

Yes it cost me more in removalist fees as the truck sat in the street of the new place for an hour, but it was cheaper than moving to storage and then again a few days/weeks later.