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Is this a fair target completion date?
Burnley_Lad
Posts: 277 Forumite
We've got first time buyers buying our house, and we're renting for a bit before buying afain.
We're waiting for our buyer's solicitors to get searches done for the house we are selling, so in the meantime we have suggested a completion date of 19th May.
Do you think this is a fair target date? I don't know how long it normally takes to get the searches done (I understand their solicitors do personal searches), exchange contracts and complete?
We're waiting for our buyer's solicitors to get searches done for the house we are selling, so in the meantime we have suggested a completion date of 19th May.
Do you think this is a fair target date? I don't know how long it normally takes to get the searches done (I understand their solicitors do personal searches), exchange contracts and complete?
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Comments
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can anyone offer any advice on this for me?0
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has the survey been done? From start of searches immediatly after survey to completion took around 3 weeks for us (FTBs) so seems realistic to me. Of course it depends if anything comes up in the ssearches.we have love enough to light the streets.0
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puffinmuffin wrote:has the survey been done? From start of searches immediatly after survey to completion took around 3 weeks for us (FTBs) so seems realistic to me. Of course it depends if anything comes up in the ssearches.
yes, the survey was done and ok'd two weeks ago. I don't think anything will come up in the searches, as it's a relatively new house, and we bought it 3 years ago, and nothing came up then.0 -
it seems pretty normal to me, remember the other parties wishes have to be taken into account as well with completion dates.
LisaI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
as MortgageMamma says, it will also depend on when your buyer will be ready to move too. With regards to paperwork, have you signed the mortgage deed, Land Registry forms? These are other bits and pieces which will need to be in place in order to exchange.0
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make sure the ftbyrs are aware that they need their deposit ready with the solicitors, cleared funds,
as this sometimes hold things up they may have put their deposit in an account that needs a long notice period to release the funds.
keep chatting to them to keep them up to date with what is needed as they may need your help.my bark is worse than my bite!!!!!!!!0 -
It is possible to meet this deadline, but you will need to keep on top of things to make sure it happens. Make sure your buyers solicitor doesn't wait for their mortgage offer to be issued before applying for searches. If their solicitor uses a search company for the searches it may take 3-5 days for the searches to come back. Personal searches in theory can be done in a day, just make sure their lender allows personal searches as not all do.0
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JennyW wrote:as MortgageMamma says, it will also depend on when your buyer will be ready to move too. With regards to paperwork, have you signed the mortgage deed, Land Registry forms? These are other bits and pieces which will need to be in place in order to exchange.
yep, we've done all that.0
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