PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

How long does it take to buy a house?

boo80
boo80 Posts: 482 Forumite
edited 5 February 2014 at 4:34PM in House buying, renting & selling
Official MSE Insert:

If you've arrived from Google, our fully researched House Buying Tips may help.

Back to the original post...

I'm just waiting to see if our offer has been accepted on our first house, and wondered how long it 'normally' takes for a sale to go through, no chains either side?
«13

Comments

  • not_loaded
    not_loaded Posts: 1,187
    First Anniversary Combo Breaker
    Forumite
    It has to depend on how much work has already been completed (searches etc) and whether the two conveyancing solicitors will work with it, or get it done again.

    I’ve heard over the years that with no chains 4 weeks is possible if they get on with it and cooperate. My guess is that 8 weeks would be more likely.

    Don’t forget we’re coming up on Annual Leave times for the summer!
  • chickmug
    chickmug Posts: 3,279 Forumite
    Vey quick 4 weeks.

    More common 8 weeks

    Sluggish solicitors and/or problems arising 12 or a few more weeks.

    Nightmare sales a lot longer and our record was nearly 12 months. However this was very rare one off.
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • benjo
    benjo Posts: 482 Forumite
    It took 5 weeks from offer being accepted to moving in for us in April of this year, my daughter made an offer at the same time on a property and moved in last week - I consider my case was quick, I consider her case was very slow.
  • Beardmidget
    Beardmidget Posts: 156 Forumite
    I (a FTB) put the offer in on the house I am buying mid-april, the vendors are moving into a vacant property so there is no chain.

    Contracts were exchanged yesterday (17/07/09), and completion will be 24/07/09- this has only happened because I have been pushing like crazy to get the deal done...
  • chickmug
    chickmug Posts: 3,279 Forumite
    I (a FTB) put the offer in on the house I am buying mid-april, the vendors are moving into a vacant property so there is no chain.

    Contracts were exchanged yesterday (17/07/09), and completion will be 24/07/09- this has only happened because I have been pushing like crazy to get the deal done...

    Crazy how long it can take.

    What do you feel were the reasons it took so long?
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • MrsMillar
    MrsMillar Posts: 100 Forumite
    Our offer was accepted at the end of March. We exchanged contracts a week ago and complete on Monday. No chain either side, nothing untoward in survey or searches. However, there was a "modification" to the house, and the vendor kept not answering our solicitors enquiries regarding this properly. We had the impression that vendor's solicitor was really slow. Oh, and vendor went on holiday for three weeks without telling anyone.
  • alipops1986
    alipops1986 Posts: 690
    First Anniversary First Post
    Forumite
    I completed on my first house yesterday. From start to finish it took 5wks with no chains on either side and it was already vacant.

    Only thing that delayed us was search in the HIP was over 6mnths old, so my solicitor insisted on doing another one!
  • cattie
    cattie Posts: 8,841
    Name Dropper First Anniversary First Post
    Forumite
    In my experience it's taken an average of 12 weeks from offer to completion. However, this has always been in a bouyant market when solicitors were busy with lots of sales & purchases. With the change in the market solicitors & the relevant departments have less work to do so things should move along much quicker now I'd have thought.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • boo80
    boo80 Posts: 482 Forumite
    Thanks for all the responses, I had in my mind it would take 6 weeks to complete, so we should give our 2 months notice on our rented house as soon as (or I should say IF) our offer is accepted, now I'm not so sure!
  • cherry76
    cherry76 Posts: 885
    First Anniversary First Post
    Forumite
    Mine is going to take ten weeks. It took 2 weeks to sort out post survey queries. It could have been done in 8 weeks but sellers were not ready to complete as they have to sort out rented accommodation. FTB, no chain on either side, I guess about 6 weeks
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards