OT: What's the average time from offer to completion on a house sale???

MommaCC · Apr 2nd, 2012, 14:15 PM

We had the offer on our new house accecpted last Tuesday, I'm just wondering how long it usually takes for it all to go thru. We are selling our house to first time buyers and the people we are buying from are buying an empty property so its a small chain if that makes any difference.
Any experiences any advise will be greatly appreciated! X

**booflebump** · Apr 2nd, 2012, 14:17 PM

It just depends - sometimes it could be as little as 4-6 weeks. We sold our flat 2 weeks ago, and have a completion date of 1st June, but the original date the buyer wanted was 5 weeks away (we haven't got a house to move in to yet

)

lindblum · Apr 2nd, 2012, 14:19 PM

took me a little over 4 weeks, good luck hope it goes smoothly for you

karla1 · Apr 2nd, 2012, 14:21 PM

i was a mortgage adviser for 5 years so hopefully i can help out on this one

depends on if there is a chain and how much chasing of solicitors both parties are willing to do but on average if there is a chain you are looking at anywhere between 6-12 weeks

but for a mortgage to actually complete it CAN be done in 28 days (and if bought at auction usually has to be done in this time) so if both parties what to move ASAP and there is no chain you both need to get on to your banks and solicitors and tell them you are looking to complete within 28 days and then chase chase and chase both bank and sols

hope that helps x

Hopipolla · Apr 2nd, 2012, 14:24 PM

From working in mortgages, I would say between 6 to 8 weeks. If the valuation on the property comes back ok it can be quicker. Sometime extra reports can be required, which is why it can take a bit longer.

MommaCC · Apr 2nd, 2012, 14:26 PM

Oh ladies your all so helpful thank you soooooo much xxxx

Mrsmitch80 · Apr 2nd, 2012, 14:42 PM

As others have said the trick is to chase, chase, chase! Make a few phonecalls per day to push things along, the more you bug the solicitors the quicker they work!

Good luck xx

beccad · Apr 2nd, 2012, 15:07 PM

Hassle your solicitors! For some reason they don't seem to do very much if you don't hassle them. It took 8 weeks for our sale to go through, which included nothing happening over Christmas and New Year. We were chain free buyers and our vendors were buying from a developer.

momof3tobe · Apr 2nd, 2012, 16:58 PM

i was a conveyancing secretary for years before getting pregnant with this monkey and my best advice would be to call your estate agents, mortgage advisor and solicitor on pretty much a daily basis if you want to move quickly. alot depends on how thorough the solicitors are and if things like surveys or damp reports etc are being undertaken. however, i would strongly advise that a full set of enquiries about the property are raised as if you don't do this and later find out that the property is damp, there are problems with the neighbours, etc then there will be no comeback against the solicitors! the solicitor i worked for did not just do property transactions and he put them off as long as could as there is more money in other types of work than in property. so make sure you make a nuisance of yourself!

Apr 2nd, 2012, 14:15 PM	#1
MommaCC Mum (Mom) BnB Addict Join Date: Apr 2010 Location: England Posts: 2,817	OT: What's the average time from offer to completion on a house sale??? We had the offer on our new house accecpted last Tuesday, I'm just wondering how long it usually takes for it all to go thru. We are selling our house to first time buyers and the people we are buying from are buying an empty property so its a small chain if that makes any difference. Any experiences any advise will be greatly appreciated! X

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Apr 2nd, 2012, 14:17 PM	#2
booflebump Other BabyandBump Team Join Date: Feb 2009 Posts: 26,354	It just depends - sometimes it could be as little as 4-6 weeks. We sold our flat 2 weeks ago, and have a completion date of 1st June, but the original date the buyer wanted was 5 weeks away (we haven't got a house to move in to yet )

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Apr 2nd, 2012, 14:19 PM	#3
lindblum Mum (Mom) Chat Happy BnB Member Join Date: Jul 2010 Location: Berkshire, UK Posts: 1,708	took me a little over 4 weeks, good luck hope it goes smoothly for you

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Apr 2nd, 2012, 14:21 PM	#4
karla1 Pregnant (Expecting) BnB Addict Join Date: Sep 2010 Location: rochdale, england Posts: 2,782	i was a mortgage adviser for 5 years so hopefully i can help out on this one depends on if there is a chain and how much chasing of solicitors both parties are willing to do but on average if there is a chain you are looking at anywhere between 6-12 weeks but for a mortgage to actually complete it CAN be done in 28 days (and if bought at auction usually has to be done in this time) so if both parties what to move ASAP and there is no chain you both need to get on to your banks and solicitors and tell them you are looking to complete within 28 days and then chase chase and chase both bank and sols hope that helps x

Status: Offline

Apr 2nd, 2012, 14:24 PM	#5
Hopipolla Mum (Mom) Active BnB Member Join Date: Nov 2011 Location: West Yorkshire Posts: 389	From working in mortgages, I would say between 6 to 8 weeks. If the valuation on the property comes back ok it can be quicker. Sometime extra reports can be required, which is why it can take a bit longer.

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Apr 2nd, 2012, 14:26 PM	#6
MommaCC Mum (Mom) BnB Addict Join Date: Apr 2010 Location: England Posts: 2,817	Oh ladies your all so helpful thank you soooooo much xxxx

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Apr 2nd, 2012, 14:42 PM	#7
Mrsmitch80 Pregnant (Expecting) Chat Happy BnB Member Join Date: Aug 2011 Location: Cheshire, uk Posts: 1,498	As others have said the trick is to chase, chase, chase! Make a few phonecalls per day to push things along, the more you bug the solicitors the quicker they work! Good luck xx

Status: Offline

Apr 2nd, 2012, 15:07 PM	#8
beccad Pregnant (Expecting) BnB Addict Join Date: Aug 2008 Location: Surrey, UK Posts: 3,264	Hassle your solicitors! For some reason they don't seem to do very much if you don't hassle them. It took 8 weeks for our sale to go through, which included nothing happening over Christmas and New Year. We were chain free buyers and our vendors were buying from a developer.

Status: Offline

Apr 2nd, 2012, 16:58 PM	#9
momof3tobe Mum (Mom) Active BnB Member Join Date: Mar 2012 Location: Birmingham, UK Posts: 108	i was a conveyancing secretary for years before getting pregnant with this monkey and my best advice would be to call your estate agents, mortgage advisor and solicitor on pretty much a daily basis if you want to move quickly. alot depends on how thorough the solicitors are and if things like surveys or damp reports etc are being undertaken. however, i would strongly advise that a full set of enquiries about the property are raised as if you don't do this and later find out that the property is damp, there are problems with the neighbours, etc then there will be no comeback against the solicitors! the solicitor i worked for did not just do property transactions and he put them off as long as could as there is more money in other types of work than in property. so make sure you make a nuisance of yourself!

Status: Offline

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