Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • fwfw123
    • By fwfw123 15th Mar 17, 8:25 AM
    • 2Posts
    • 0Thanks
    fwfw123
    Buying a flat with no chain
    • #1
    • 15th Mar 17, 8:25 AM
    Buying a flat with no chain 15th Mar 17 at 8:25 AM
    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
Page 1
    • sparky130a
    • By sparky130a 15th Mar 17, 8:29 AM
    • 439 Posts
    • 586 Thanks
    sparky130a
    • #2
    • 15th Mar 17, 8:29 AM
    • #2
    • 15th Mar 17, 8:29 AM
    Depends on a number of parties. The freeholder, vendors solicitor, your lender..etc etc..

    Are you 100% sure it's vacant possession?
    • fwfw123
    • By fwfw123 15th Mar 17, 8:39 AM
    • 2 Posts
    • 0 Thanks
    fwfw123
    • #3
    • 15th Mar 17, 8:39 AM
    • #3
    • 15th Mar 17, 8:39 AM
    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
    • By eddddy 15th Mar 17, 8:42 AM
    • 4,275 Posts
    • 3,940 Thanks
    eddddy
    • #4
    • 15th Mar 17, 8:42 AM
    • #4
    • 15th Mar 17, 8:42 AM
    Are you 100% sure it's vacant possession?
    Originally posted by sparky130a
    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
    • By sparky130a 15th Mar 17, 8:46 AM
    • 439 Posts
    • 586 Thanks
    sparky130a
    • #5
    • 15th Mar 17, 8:46 AM
    • #5
    • 15th Mar 17, 8:46 AM
    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.
    Originally posted by eddddy
    The former. Because that's the one that matters.
    • eddddy
    • By eddddy 15th Mar 17, 9:14 AM
    • 4,275 Posts
    • 3,940 Thanks
    eddddy
    • #6
    • 15th Mar 17, 9:14 AM
    • #6
    • 15th Mar 17, 9:14 AM
    The former. Because that's the one that matters.
    Originally posted by sparky130a
    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
    • By cashbackproblems 15th Mar 17, 9:18 AM
    • 1,485 Posts
    • 560 Thanks
    cashbackproblems
    • #7
    • 15th Mar 17, 9:18 AM
    • #7
    • 15th Mar 17, 9:18 AM
    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
    • By always_sunny 15th Mar 17, 10:28 AM
    • 2,469 Posts
    • 2,636 Thanks
    always_sunny
    • #8
    • 15th Mar 17, 10:28 AM
    • #8
    • 15th Mar 17, 10:28 AM
    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.
    Expat here with an EU passport.
    • AFF8879
    • By AFF8879 15th Mar 17, 10:29 AM
    • 333 Posts
    • 408 Thanks
    AFF8879
    • #9
    • 15th Mar 17, 10:29 AM
    • #9
    • 15th Mar 17, 10:29 AM
    I was in exactly the same situation, offered on a flat end of March and completed end of May, so just under 2 months altogether. Mortgage was with HSBC, and to be honest we could have completed a couple of weeks sooner if the management company hadn't dragged their heels in providing information - be prepared to chase!!
    • LandyAndy
    • By LandyAndy 15th Mar 17, 10:31 AM
    • 23,613 Posts
    • 49,995 Thanks
    LandyAndy
    Buying a flat with no chain

    You need to get a handle on it.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

704Posts Today

6,195Users online

Martin's Twitter