What's the typical timescale between exchange and completion?

tyler80

What's the typical timescale between exchange and completion?

We're in the initial stages of buying a property. Currently in rented so need to give a months notice. We don't mind having some overlap, so would plan to give notice on exchange and complete 2 or 3 weeks later. Is this sort of timescale likely to raise any eyebrows? Property is chain free so can only see the sellers objecting if they are in a rush for the money.

Richard_Webster

Typical period between exchange and completion is 7-14 days but wanting 2-3 weeks is common for people in your position and shouldn't cause a problem providing you let the chain know before hand.

kr15snw

Check with your vendors.

We're selling a chain free property as we're going onto a private sale that is empty and ready for us to move in. BUT we would want to rush it through as we need the money the fund the next place!

tyler80

Thanks for that, fingers crossed that everything ties in nicely with our tenancy start date otherwise you can end up needing 7.5 weeks notice.

Failing that will have to speak nicely to the landlord and see if we can have the notice date tie in with our payment date rather than our tenancy start date.

mlz1413

I'd inform your solicitor and the vendors of your rent date so that everyone knows from the start that your limited on completion date by your rent date.

If of course your LL is approachable and flexible then advising him you are moving and requesting the abliltiy to give 1 months notice from any point would be an equally good option.

I asked for 1 month between exchange & completion due to renting which was agreed straight away.

Grimbal

It's always worth asking your vendors what their position is - they might be happy for an early exchange but with a longer gap for completion. We offerred our buyers 2 months between exchange & completion to (amongst other things) allow them to give notice on their rental property

tyler80

Yes, we may just try to get a 1 month notice at any time. It is unlikely that they will be in a rush to relet. Landlord is huge multi national corporation and property has been purchased to knock down and gain access to land so hopefully they won't be too concerned about void periods.