How long on average, does it take to buy a propery from start to finish?

hazyjo

When saying the average time is 12 weeks, that takes into account the average time between exchange and completion being around 1-2 weeks. If yours is longer (which obviously it is as you're exchanging in May and hoping to complete in July!), of course it will be longer.

Getting a bit confused... only you know the date you offered. Don't expect a guarantee your house will be ready. The completion date might well be extended. I presume you'll be exchanging with an open completion date. Why do you need to know the average time? Yours will obviously be different with such a long time between exchange and completion.

Check your mortgage offer - some only last for 3 months, most 6. If your mortgage is pulled and you can't get another, you might find yourself left without a paddle!

Jx

notanewuser

geek84 wrote: »

Hi Folks

Thanks for you replies.

The new build that I am in the process of purchasing should be completely built by end of July, and that is when the completion should take place. We are going to exchange contracts next week. The searches have come back fine and their doesn't seem to be much of a problem, and my mortgage application has been accepted.

Would it still take roughly 12 weeks from when offer was accepted to completion?

Thanks

New builds have a habit of taking longer to build than the developer says. The contract will say that completion will be when the house is actually ready, not a specific date. Once you exchange you are committed to buy, even if completion is delayed for months or years!

bluedrop

We are likely to complete by the end of this month. That makes it appx 8 weeks from the day they accepted our offer.

This is with NO chain on both sides and me chasing people (read harassing) almost every day.

I must tell you that there was still a gap of 1 week each at two different times - where no one did anything.

pinkdora1

It has been nearly 12 weeks since our offer was accepted, and still not signed contracts yet. Feels like we're never going to get there. Our solicitor has been very slow and enquiries seem to be going back and forth between him and sellers solicitor for past 4 weeks. Not been the best experience really