I like to move it, move it...only on Friday
- Gavin Human
- 1 day ago
- 4 min read
“My house has sold - why does it now take so long?”
Maybe it’s time to re-think how we do things - and we don’t need any housing reform for some simple changes to make things a little easier. There has been very little change in the house-buying process since 1925 - when the Law of Property Act came into force. So, 100 years later and it’s hard to argue we’ve made it easier!
It is absurd to think that when I started working in an Estate Agency in 1987 (on a YTS - Youth Training Scheme ), the average sale transaction from accepting an offer to completion and handing the keys over was 12 weeks. You would have thought modern technology would help to speed up that process - wrong! It now takes LONGER! The average time from accepting an offer to completion is currently 16 weeks. There are of course many reasons that can contribute to a delay, but maybe one reason is because we’re stuck in our ways: usually having just one week to arrange our move from when we exchange contracts, and being over reliant on moving on a Friday!
OH FRIDAY I’M IN LOVE
Why are so many people fixated on moving on a Friday?* If you have recently moved, there may have had difficulties getting the removal firm that were recommended because they had been provisionally booked up in advance. If there is a problem and eveyone is locked in on a Friday then this means you lose a whole week. And then you have an event booked for the following Friday so now it’s a two week delay. It is also more likely that people will have plans on a Friday: Trips away, celebrations etc.
I appreciate that a Friday can make sense as you then have the whole weekend to unpack and get things organised in your new home. But is it also a case of moving on a Friday is what most people assume happens and it’s what most people are used to? Because actually there are some compelling reasons why it isn’t perhaps the most ideal day. If there is a problem with paperwork or the bank transfer or getting the keys, most businesses involved won’t be reachable until Monday. This could cause more stress and incur additional costs - especially if you need to find some temporary accommodation and even storage. The same delays can also apply if you have any issues with your utilities or services in the house - especially if you’re moving to a new area.
Why not move earlier in the week?* You are likely to have less hassle when trying to book removals with a wider choice of available dates, as well as more firms available; which could also mean a cheaper price. And those hassles of everyone being closed over the weekend are eliminated plus people are far more likely to be working later during the week and therefore more reachable than on a Friday. Also, whilst Mondays might be the most common day for people to be ill, Friday is the favoured day for people to book off for holiday, which might explain why it’s harder to get any answers on the day you need them most!
The last data I looked at said 29% of people move on a Friday! And you are more likely to encounter delays and extra costs if moving on a busy day. In the same article, commenting on the data, Chief Executive of the HomeOwners Alliance, Paula Higgins, said:
“Moving midweek or outside peak season can save you money and hassle.”
Removal firms in that article also said the most common reasons for delays on moving day are:
Delays in the transfer of funds by the conveyancer/ banking system on completion day (88%)
Keys not being released in time by the estate agent or seller (69%)
Delays in the property chain causing a knock-on effect (67%)
The seller not moving out on time (41%)
The client not being fully packed up and ready to move (14%)
JUST GIVE ME A LITTLE MORE TIME
Not all of those can be mitigated by simply changing your moving day, which brings me to another simple fix: give yourself more time. Selling a house can take months, then it can take another 3 months to exchange contracts; but then we expect to complete the actual move in 7 days?
Everyone else gets weeks to look at paperwork but you are expected to sort out all of the logistics of moving in seven days: getting everything packed, arranging childcare and liaising with schools, pet care, arranging broadband and TV connections at the new house and other utilities and much more!
The question I wish to ask is why ? Why do we accept what everyone else does and agree to the 7 day exchange and completion? why do we all agree to move on a Friday? Just because it is the norm, it does not mean it is in the best interest of everyone. Does it really make sense? I appreciate that having longer between exchange and completion can expose you to a higher risk of things going wrong. Buyers in the chain may experience sudden and unexpected job or relationship issues, sometimes through events that may be out of their control, and additional costs if the new buyer has to take on insuring the new house. But, if you think about it logically, do the benefits outweigh the possible risks?
Right from the beginning of agreeing your sale you could tell your buyer that you wanted two weeks between exchange and completion. This information could then be fed through the chain at every step of the way and might actually save you time. There is more leeway for some of those arrangements that need to be made and far less stress. So often this end process is a fraught experience that can easily turn to frustration, stress, disappointment and anger - and can cause a sale to fall through.
It doesn’t have to be like this.
Maybe we can all play a part in thinking and working a little differently to make a stressful process, just a little easier.
*Obviously some people might not have a choice on their moving day or be restricted by the job they have or other commitments.