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How long does a sale take
pegtop2
Posts: 12 Forumite
I am seriously considering buying a desirable (empty) property for cash. (I am too old for a mortgage or loan). The cash is tied up in various investments which will take a little time to access.
Am I correct in believing that the time to the exchange of contracts is about 4 weeks when a deposit of 10 -15% is paid? (This is no problem)
But after that when is the remainder of the cash to be paid? Is it as I hope on completion?
What would be a reasonable time to ask for from contract to completion without upsetting the vendor (the longer the better).
Thank you
Am I correct in believing that the time to the exchange of contracts is about 4 weeks when a deposit of 10 -15% is paid? (This is no problem)
But after that when is the remainder of the cash to be paid? Is it as I hope on completion?
What would be a reasonable time to ask for from contract to completion without upsetting the vendor (the longer the better).
Thank you
0
Comments
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Sounds about right to me. You pay your deposit on exchange to your solicitor, then the rest of the funds on completion, just as you thought. I don't think asking for 3/4 weeks between exchange and completion is unreasonable, your best bet is to just ask the vendor and come to some agreement. At the end of the day, they want to sell!Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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