Anyone here able to answer the unanswerable question?

lil'H

Hi all,

I had an offer accepted on a house before Christmas. Nothing happened last two weeks really (thanks to xmas). I am a FTB, my surveyor can be in next week, mortgage broker reakons that'll go through pretty quickly. My solicitor isn't too busy so she is hoping to push through quite fast. There are three properties in the chain.

What I want to know is if you had to place a bet, what week do you reakon i'll complete? No-one seems to have talked dates yet as I think the other solicitors have only just got back from break. Obviously lots of factors, but from experience, and as a bit of fun when do you reakon?

Also do you think it'll take full 28 days from exchange to complete, if not how long?

Lil'H

sarah_elton

When I bought, I had my offer accepted mid October, and completed on Jan 23rd (2006).

Neither me nor the seller really pushed our solicitors to go quickly - it trundled along at its own pace. However we did have exchange and complete on the same day as I had no deposit.

I guess completion in early March...

sarahs999

I'm guessing third week of Feb. Make sure you come back and let us know!

lil'H

sarahs999 wrote: »

I'm guessing third week of Feb. Make sure you come back and let us know!

Don't worry I'll be on here throughout the whole process i'm quite sure! I'll even send an imaginary drink to the person who guesses the closest, there how generous am I! :rolleyes:

littlened

We're in the process of buying a house at the minute, it's a repo and needs to be done within 28 days.

Offer accepted on the 12th of December, and so far the valuation on the property hasn't even been done yet. We're meant to exchange contracts on Friday...very much doubt it's going to happen.

So, based on my experience, I recon the last week in March (2010)

LisaLou1982

Hiya

Average timescale from making the offer til completion is approx 10 weeks - yes it can be done quicker but usually isnt unless there is a set deadline.
In some respects, the timescale is out of your hands somewhat as you are at the bottom of the chain so in theory should have everything done before the rest of the chain. However, in practise, this is not always the case.

Call the EA and check to make sure that they have called the rest of the chain and have found out about any holidays which the other people in the chain may have booked. You'd be surprised at how many people dont bother to tell the EA until the day before they go and then delay completion.

Other than that, call the EA and make sure they give you a weekly update on how things are going - they will (should) be speaking to everyone else in the chain to find out where everyone else is. Also, make sure you get in touch with your solicitor and instruct them to call you and ask any questions rather than send you a letter as this often causes most of the delays.

Id estimate that you would be in your new property middle of Feb

lil'H

LisaLou1982 wrote: »

Hiya.

Call the EA and check to make sure that they have called the rest of the chain and have found out about any holidays which the other people in the chain may have booked. You'd be surprised at how many people dont bother to tell the EA until the day before they go and then delay completion.

Other than that, call the EA and make sure they give you a weekly update on how things are going - they will (should) be speaking to everyone else in the chain to find out where everyone else is. Also, make sure you get in touch with your solicitor and instruct them to call you and ask any questions rather than send you a letter as this often causes most of the delays.

Id estimate that you would be in your new property middle of Feb

Thanks Lisa, that is great advice, and things I hadn't thought of!

MadMonkey

We "sold" our house on 26th January 2008.

We moved on 28th November 2008.

Initially we were told the people higher in the chain wanted a fast completion and we were expecting end of feb middle of march,

So many things went wrong with buyers pulling out and surveys throwing up false problems.

2008 was the worst year of my life.....................until we ended up getting a 260k house for 185.

Was worth the wait.:j

Basically do not plan around dates until your solicitor actually rings you to ask for a date - something that *should* only take 10 weeks only needs one hitch and it can double the time.

We had so many minor glitches but each time 2-3 days were added on to the whole thing.

P.s - the reason it really took so long was that our buyers buyer pulled out, they found another who then pulled out and in the end we swapped with them. But just to let you know it is not as cut and dried as it seems.

lil'H

MadMonkey wrote: »

We "sold" our house on 26th January 2008.

We moved on 28th November 2008.

Thanks madmonkey for bringing me back down to earth! This is the second time, a few months ago I had one fall through, but unfortunately this one is the house of my dreams so real danger I'll get carried away with the excitement. Your delays must have been awful at the time, praying mine doesn't take quite that long!

ohmochraich

Hi all - reading this thread with interest. I put an offer on a house in (subject to survey) mid December and have had the survey done so advised solicitor to proceed with purchase yesterday - Im a FTB and there is no chain as the seller is selling a "second home". I would love to be able to move in during the first week in feb - and have asked that purchase is completed by end of Jan - is this realistic? is it do-able? - seller is keen to get it completed quickly. its in Scotland if that makes any difference. Do you think I have booked my holidays from work (to move in) in vain?
Cheers:beer:

col1967

I'm another FTB although my situation is slightly different to the ones on here, I'm buying a house through http://www.ownplace.org/ (not shared ownership). I viewed the house 4th December, saw my financial advisor on the 9th December and again on the 17th December when she told me I'd had a mortgage offer from the Abbey. On the Friday 19th she contacted me to say the mortgage had gone through (.1% cheaper than the initial offer). I informed my solicitor on the following Monday and told them that I wanted the completion date for 28th February - my choice, I could've had it sooner. This is where I am at the moment, waiting for the surveyor - I'm assuming they haven't done that yet as the money hasn't gone from my account. It's all exciting isn't it?