Completion Date Timeframe Advice

jonathandaws

Hi

We have had an offer accepted on 2 bed leasehould property and are having the survey done next week.

The person selling has no chain and we are first time buyers.

What would be a realistic timeframe to expect the sale to go through?

Just to clarify our mortgage offer has been accepted subject to valuation.

Both solictors have been giving each others details etc.

Any advice would be appreciated.

Jonathan

bugachu

Hi,

Not sure about typical timelines, but my specific situation might give you an idea. Your situation sounds more straight forward.

I offered on a 3 bed semi on 17 Feb. I am first time buyer, and the vendor is moving to rented. I did a full structural survey and a cctv drain survey since I wanted to extend the property. I just exchanged and will be completing at the end of April.

Note that a leasehold property is more work for the solicitor I think, not sure how that will affect your timeline.

Both of us have local solicitors too (I mention this since I have read some horror stories on the delays some big internet call centre firms can have)

It has not always gone smoothly. We have had some minor issues, you should expect this too, there are always things you never thought of. That's just the way it is.

This may not apply to you, but we would have completed sooner, but for it not because the vendor insisted they had to exchange before finding a place to rent.

My advice is to get everything done soon as possible. Most of the time, the process waited for me, since I was the buyer and had to get everything sorted. The sooner you exchange, the sooner they can find somewhere, assuming they are moving to rented that is.

Also, nothing really got going until my mortgage offer was received by the solicitor. You should make sure you get the mortgage sorted early.

Good luck, and hope it all goes well.

jonathandaws

Thanks for the advice!

Both our solictors are local which is good news! The Seller is waiting to move into his new place as it is a probate (They are waiting on him).

Natwest are OK not amazing so hopefully by the end of next week they should have all the information and valuation to send out the offer letter to my solictor.