How long until exchange?!!!

chrmd156 · 26 August 2010 at 9:18AM

My fiancee and i are still waiting to hear about exchanging contracts, we have had all the searches done, have our survey in place and are first time buyers so have no chain, we made our offer a good 6 weeks ago - how long on average has it taken people to finally exchange contracts and then complete?!

Evilm · 26 August 2010 at 10:49AM

It depends on so many things it is impossible to say.

My first house took 4 weeks to complete and the second nearly 7 or 8.

It will depend on the amount of houses in the chain above you, if they are waiting for a mortgage offer, if there are any niggles with the title paperwork that need to be looked at etc.

The best thing to do is ring your solicitor and ask them! They are the only ones who will be able to give you a good idea of what is going on.

Chinkle · 26 August 2010 at 11:03AM

You haven't said the status of the people you are buying from, are we to assume that it is a new build/vacant/owners moving to rented etc. so no chain above?

Have you received the sellers information pack, draft contract, lease (if applicable) etc.

Forget average times, know your own situation and keep in regular contact (at least once a week) with your solicitor about where things are at, what if anything is holding things up. If you want to move fast then make sure you do everything necessary on your side to facilitate this.

bandofbrothers · 26 August 2010 at 11:23AM

My situation is that im selling my empty property to an investor who buys and then lets out.

Hopefully mine will be quick....fingers crossed.

chrmd156 · 29 August 2010 at 10:20PM

thanks everyone, we have had the draft contract and now know the sellers of the house we are buying are buying a new place so the chain has another link! hopefully wont be too long now tho!! i hate the waiting and not knowing!!!