sold my house. how long does the process take?

wannaberich41

Hi
We accepted an offer on our home on Xmas eve. The person who is buying has sold her home to a cash buyer and they have nearly finished sale. We accepted an offer on our home on xmas eve, we have not found anything ourselves yet, so are going to move in with the parents as to not hold our sale up. How long will it be do you think before we sign and have to move out? Just so that we have a rough idea. Do i need to start packing?
Thanks in advance.

Yorkie1

Firstly, I would start sorting out your stuff now - it always takes much longer to do this than you think, and you want to declutter before packing, particularly if putting stuff in storage or moving in with someone else temporarily. (I paid the removal company extra to pack me, and it was worth every single penny by the way).

You are really asking how long the proverbial piece of string is, but I would broadly estimate it will take at least 6 weeks before you're ready to exchange contracts and set a completion date. Your buyer will need to instruct a solicitor, get searches under way, possibly obtain a mortgage for part of the purchase price. With the Christmas shut-down nothing will happen until next week in any event.

wannaberich41

Thank you for your advise. The house sold alot quicker than we thought, and the house we was after accepted an offer 2 hours before we accepted on ours. Typical.

hazyjo

I'd say don't pack anything away that you'd have to get back out if the sale falls through. Nothing's definite until you exchange. I'd also say min of about 6 weeks. We're selling to an investor who wanted to exchange within 3-4 weeks, and those we're buying from are moving into rented accommodation. We pulled our hair out and tore ourselves inside out getting as much done as we could, and have kept all parties informed every step of the way - and we're in week 8 already. Arghhhh! Doesn't help that the solicitors have been shut since 23rd, and the week before was pretty quiet, and they don't open 'til Tues. I've moved - start to finish (actual completion) in 4 weeks before, so it can be done, but it's very unlikely.

Jx

PasturesNew

I'd say 2-3 months still... you'd be surprised how some stages can drag if there are questions.

Check out local self-storage that's cheap. I've got one that's 4'x4' and 8' tall for £25/month. Mark the boxes well, detail everything that's in each box, so you know what's where. Put stuff into storage that you know you won't need for at least 6 months. One thing you can do is restrict yourselves to 2 quilt covers and 2 towels - stick the rest in storage. Same with clothes and most kitchen stuff - you know you've not used it for over a year, so bung it in storage now.

flora48

The sale can take any amount of time, the process is long and convoluted. My recent sale took 5 and half months even though my buyers had sold and we were moving into an empty house. My advice would be to start thinking through the process of packing but I would not do any packing of everyday stuff till exchange of contracts when all are legally bound and the completion day is agreed. In my case I had my removal booked on the strength of solicitor's letters but not exchange, and had to cancel 10 mins before the close of business on the day previous. Thank goodness I had taken out the cancellation waiver as I would have been seriously out of pocket. Take the time now to sort through stuff and get rid of anything that is surplus to requirements.
Good luck with your move, happy 2011.

poppysarah

How recently did you buy the house? Is its not long ago then the paperwork is probably in a good state and ready to go.

80schild

I am selling my house to investors and the house we are buying is no chain but it has taken 6 weeks just for my solicitors to get documents off my vendors solicitors!!! No point packing yet IMO! I have not started packing for my move and am at the point where my buyers are ready to go when I am and my solicitor submitted the searches on the house I am buying and raised enquiries on 22nd December (last day of business before Christmas and don't reopen til 4th Jan).
It will probably be ages yet!!

LilacPixie

I accepted an offer on 19th October and offered and had accepted an offer on another same day. We moved 10th December.