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How long does it take to buy a house?
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# 1
boo80
Old 18-07-2009, 11:56 AM
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Default How long does it take to buy a house?

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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?

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# 2
not_loaded
Old 18-07-2009, 12:03 PM
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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!
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# 3
chickmug
Old 18-07-2009, 12:14 PM
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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.
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# 4
benjo
Old 18-07-2009, 12:23 PM
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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.
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# 5
Beardmidget
Old 18-07-2009, 12:41 PM
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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...
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# 6
chickmug
Old 18-07-2009, 12:59 PM
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Quote:
Originally Posted by Beardmidget View Post
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.
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# 7
MrsMillar
Old 18-07-2009, 2:36 PM
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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.
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# 8
alipops1986
Old 18-07-2009, 3:16 PM
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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!
Married: August 2013
Moved into our Family Home: August 2013
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# 9
cattie
Old 18-07-2009, 3:27 PM
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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.
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# 10
boo80
Old 18-07-2009, 3:40 PM
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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!
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# 11
cherry76
Old 18-07-2009, 3:40 PM
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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
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# 12
Cissi
Old 18-07-2009, 4:00 PM
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Quote:
Originally Posted by boo80 View Post
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!
Boo80, given that there is always a strong risk, not only of serious delays but of things falling apart, vendor pulling out etc, I wouldn't give notice on your rented house until contracts have been exchanged or you could easily end up homeless! With 2 months notice you probably need to budget for at least a month's overlap of rent and mortgage, unless you can get the vendors to agree to a 2-month gap between exchange and completion (but that carries risks too as seen on a couple of current threads on here).

To answer your question, we managed to exchange in just over 3 weeks, with no chain or mortgage at either end. It was still incredibly stressful and only happened because we pushed everything to the max all the time. The house we're buying is Victorian and the initial survey raised a number of questions so we had to get some specialist surveys done which added delays, but we managed to get them all done within days and reports back within 24 hours each time - it wasn't cheap though!

We exchanged 2 weeks ago and will complete in another 2 weeks. The vendors insisted on 4 weeks to get their move sorted out, and this allowed us to give our 1 month's notice on our rented house. We managed to exchange on the day before our rent date so were able to give notice right away. If we'd missed it we'd have had to pay an additional month's rent - that's just the way it is. There is no way we'd have given notice before exchange happened - up to the last day there was always a risk we'd be gezumped!
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# 13
Soot2006
Old 18-07-2009, 5:21 PM
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Ours just took just under 6 weeks from offer to completion.
We are FTB and house was empty.
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# 14
house_hunter
Old 18-07-2009, 6:01 PM
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Hi boo80

Going off the subject a minute I see at the bottom of message that you earn £5 a day could you please let me know how you do this please. If you dont want to dont worry or if you prefer not to tell me her u can tell me in private. Im in the middle of purchasing a house at the moment and its taken 6 weeks so far but it shouldn't be long now. I agree with Cissi I wouldn't hand your notice in until at least exchange of contracts. Im going to wait until we actually have the keys because even though its very unlikely something could happen. Hope your offer gets accepted
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# 15
Beardmidget
Old 18-07-2009, 9:19 PM
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Quote:
Originally Posted by chickmug View Post
Crazy how long it can take.

What do you feel were the reasons it took so long?
Well... to begin with, we agreed that we'd go slow with it because the Mrs. vendor was JUST about to have another child (and therefore wasn't exactly in house viewing mood...), and we still had time to run on our AST.

Eventually it came down to the fact that their solicitor is terrible! My guy was 'ready to exchange mid-may', but their guy hadn't sent things like fixtures/fittings, or even the information about the property (e.g. neighbor disputes) until last week, after I had called all concerned and said we need contracts NOW, because otherwise my mortgage offer will run out (which I only applied for AFTER putting offer in!).

Fortunately, I had already forewarned the EA that it was looking like we would need a rapid completion after exchange because I had given notice on my flat and would be away from the 25th July (and I knew the vendors were away in August).

So in a nutshell; one rubbish solicitor.

OP: Are you sure you have to give 2 months notice? Those terms are usually unenforceable and if you don't then you could breathe more easily knowing that you need only give notice after discussing timescale with your solicitor...
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# 16
boo80
Old 19-07-2009, 10:42 PM
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Quote:
Originally Posted by Beardmidget View Post

OP: Are you sure you have to give 2 months notice? Those terms are usually unenforceable and if you don't then you could breathe more easily knowing that you need only give notice after discussing timescale with your solicitor...
We've signed a contract until February and it says if we leave early we have to give 2 months notice, do you think we may be able to get out of that notice period then? I really don't have a clue when it comes to stuff like this :confused: Thanks for your help
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# 17
boo80
Old 19-07-2009, 10:45 PM
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Quote:
Originally Posted by house_hunter View Post
Hi boo80

Going off the subject a minute I see at the bottom of message that you earn £5 a day could you please let me know how you do this please.
Hey House Hunter, there is a thread, I think its on debt free wannabe called 'make £10 a day challenge' you can set your target as £5, £10, £20 a day, whatever you're comfortable with, and then make money doing mystery shops, market research, surveys, ebay etc... Surprisingly easy!!

Found the link: http://forums.moneysavingexpert.com/...html?t=1781165

Last edited by boo80; 19-07-2009 at 10:47 PM. Reason: link added
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# 18
sarah_elton
Old 20-07-2009, 10:44 AM
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I sold in February to a cash buyer (no mortgage). He did his own conveyancing and I was going into rented so no chain. We completed in less than four weeks from offer being accepted, but I did have to be organised and chase my solicitor regularly to get that done.

When I bought the place, I was a FTB with a mortgage agreed in principle, and the seller was moving in with his OH so no onward chain. That took almost three months, but we had Christmas in the middle and both I and the seller were very chilled, filled in stuff as required but never really chased it, just sat back and let it happen.
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# 19
boo80
Old 20-07-2009, 1:11 PM
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Thanks Sarah, we're in almost the same situation as you were, FTB's, mortgage in principle, and seller moving in with OH. Just had our offer accepted but more than we wanted/thought we could afford to pay so we're going to have to time the move really well (if thats possible) to avoid a month of rent and mortgage. Otherwise we'll be back with my parents for a few weeks which will be a nightmare!!
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# 20
wyldeflower
Old 04-08-2010, 7:13 PM
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I am still waiting after 9 weeks and its a cash buyer who bought my house and the one i am buying is moving into a empty house i have naff solicitors and they need a rocket up their backsides..I am so fed up of waiting and we are all packed living out of bags..
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