How Quick can we complete in?

pickles110564

On the 9th April we agreed prices to sell our home and to purchase a new one. The couple wishing to buy our Home have said they want to move in on the 10th May, they have cash buyer's and what will hopefully be our new home is chain free. On the 11th April I visited my bank (HSBC) and explained the situation to them, I was pleased to be informed that I would not have to pay survey fees or any other ones for transfering my currect fixed rate mortgage to our new home. On the 14th April my mortgage offer hit the mat, I could not believe how quick and easy they had made this first important step. Due to the tight schedule I gave both sets of estate agents calls on Friday 20th April to see how far things had progressed?
To my surprise they were not on top of the job and said they would chase up the solicitors. I phoned them back on the 23rd and did not hear any encouragement from them that the 10th of May would be achievable.
Later in the morning my buyers phoned me saying that if I was not ready for the 10th they would be pulling out. I thought that I must call my solicitor and find out a true picture and could not believe what I was hearing. The sellers solictors had not sent any information out, so my solicitor said there was no chance of a 10th of May completion.
I did not let it rest and phoned up the sellers solicitors explaining the situation and after a pleasant conversation he promised that by the close of business on the 24th my solictor would have all the paperwork to issue the searches. I recieved a call at 17:00 today that the contracts for selling were ready to sign, the searches have been issued and questions on our purchase were being forwarded.
I was glad so see that still their are professional people that are good to their word.
I would be very pleased if any of you have completed this quickly so that i can offer my wife some encouraging comments.
Best Rgds

Pickles

hungary97_2

I completed and exchanged in six weeks from offer going in but it was tough going i spoke to my solicitor or emailed them virtually every two days i would have completed earlier however the only time i didnt phone for progress (my sister thought i was being to naggy) was whne something went wrong as the solicitor had forgotten to do the searches. just remember to keep on at the solicitor dont forget you are paying them so dont be afraid to be a nusiance.

My advice would be to make the solicitor your first point of call for updates that way you can use the estate agent to kcick things up the backside if need be. Also check if your solicitor is requesting the searches online as these take a couple of days whereas requesting them from your council can take weeks.

pickles110564

Thanx for your advice, what annoys me is that you pay estate agents a huge sum of money and dont seem to get a decent service in return.

piranhalikethat

Is 6 weeks a good time frame is that being too hopeful?

We think we've found the perfect house but havent yet put an offer in.

What's a reasonable amount of time to wait for everything to be done?

hermanmunster_3

Hi

I have managed 4 weeks from offer to completion twice now. There was no chain in either case .
BUT It was like a full time job!! I seemed to be permanently on the phone nagging people and running round with bits of paper - best bit was when Building Soc sent the deeds to the wrong solicitor......

piranhalikethat

Cools, I'm a FTB, not sure about the other end yet, I'm really hoping there's no chain

I'm guessing a weeks holiday would slow things down a bit as well?

Richard_Webster

Also check if your solicitor is requesting the searches online as these take a couple of days whereas requesting them from your council can take weeks.

No, not quite! If the Council concerned is geared up with all the latest electronic connections, it can be very fast. If not, the online search people receive the electronic request from your solicitor, print it out and put it in the post to the Council! So, it will be no quicker, and might take a day or two longer because there is a further link in the chain between the solr and the Council.

As a conveyancing solicitor I believe the information given in the post to be useful but I accept no liability except to fee-paying clients

pickles110564

Just an update
Recv selling contracts for us to sign on 25th, got asked by our buyers to pay £155 insurance policy because we live within two miles of a church?
Kept our EA uptodate saying that we were ready to sell and would move into rented if our purchase was not ready in time so that we will be out on 10th May to keep our buyers happy

pickles110564

Searches have been returned today, told today that we should exchange on friday 4th may with completion on 10th May.
My solictor has been superb keeping me informed and has kept pressure on all other parties, she also has a wicked sense of humour.
Just keeping my fingers crossed that no one pulls out at the last minute.

pickles110564

Expecting to exchange today after on 10 working days but told by solicitor that were waiting for info from our buyers.Would not leave there and got EA to find what is going on, only to be told truth is that they are to busy on completions.Now putting pressure on buyers and sellars to inform solicitors that we need to exchange today.Will be keeping fingers crossed.

space_rider

I did it in 3 weeks. I ended up exchanging and completing on the same day. I didn`t have a chain.