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Buying a flat with no chain

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fwfw123
fwfw123 Posts: 2 Newbie
in House buying, renting & selling
Looking for a rough timescale for the remainder of my purchase of a flat.

I have had the offer accepted, the flat is listed as sold stc, and the mortgage offered in full.
The soliciter says he is waiting for the formal letter of acceptance and should have it this week.

How long will the rest of the process take roughly? Flat is empty as it is an ex rental property being sold.

Thanks in advance

Comments

  • sparky130a
    sparky130a Posts: 660 Forumite
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    Depends on a number of parties. The freeholder, vendors solicitor, your lender..etc etc..

    Are you 100% sure it's vacant possession?
  • fwfw123
    fwfw123 Posts: 2 Newbie
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    It is 100% empty, has been for two months.

    The seller is emigrating and does not want to have to deal with renting a property from another country.
  • eddddy
    eddddy Posts: 16,448 Forumite
    First Anniversary First Post Name Dropper
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    sparky130a wrote: »
    Are you 100% sure it's vacant possession?

    Are you 100% sure you mean that?

    Are you asking if the flat is being sold with vacant possession? Or are you asking if the flat is currently vacant?

    They each have completely different meanings.
  • sparky130a
    sparky130a Posts: 660 Forumite
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    eddddy wrote: »
    Are you 100% sure you mean that?

    Are you asking if the flat is being sold with vacant possession? Or are you asking if the flat is currently vacant?

    They each have completely different meanings.

    The former. Because that's the one that matters.
  • eddddy
    eddddy Posts: 16,448 Forumite
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    sparky130a wrote: »
    The former. Because that's the one that matters.

    Eh?

    You think the OP may be mistakenly buying an investment property with tenants in it, instead of a property for owner occupation?

    If an EA was selling an investment property with tenants, I think they would make that absolutely clear from the very first contact with prospective buyers.
  • cashbackproblems
    cashbackproblems Posts: 1,826 Forumite
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    I am exactly in the same position, I had an offer accepted two weeks ago on an empty flat and no chain at either end (FTB and Landlord).


    I have instructed solicitors last week and given them documents they need, they will now be doing searches and drafting up the contract. The vendor appointed his solicitor on the same day as offer accepted so they can request the leaseholder pack (which generally causes the biggest delay).


    Mortgage is AIP but with the underwriters for final decision. Which can take 21 days. I am predicting 6 weeks to exchange, but it all assumes quick action by the management company and solicitors. I wouldn't be surprised if it takes a few weeks more.
  • always_sunny
    always_sunny Posts: 8,314 Forumite
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    it mostly depends on the freeholder then. Searches are fairly quick unless there're problem.
    The FH will need to send the leasehold pack to the seller solicitor and they will send it to yours.

    Freeholder are under no obligation to supply this pack within a certain timeframe. Some may offer expedite service in exchange for extra money, etc.

    Unless the seller has obtained this pack, you can have everything in place but you will not be able to exchange. Ask if they have already requested it and paid for it.
    EU expat working in London
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    First Anniversary First Post
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    Buying a flat with no chain


    You need to get a handle on it.
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