How much time from offer to completion

sam4u

Hello

I am just wondering if someone can tell me approx time frame

i have my full offer from halifax now :j

i asked my solicitor to start searches on wednesday, the property is chainfree and vacant and they want to complete asap , so do we !

so whats the next move

how much time it takes for searches
when do i send deposit chq to my solicitor
and how does the contract signing and completion takes place

Wywth

sam4u wrote: »

Hello

I am just wondering if someone can tell me approx time frame

i have my full offer from halifax now :j

i asked my solicitor to start searches on wednesday, the property is chainfree and vacant and they want to complete asap , so do we !

so whats the next move

how much time it takes for searches
when do i send deposit chq to my solicitor
and how does the contract signing and completion takes place

It's a bit like asking how long is a piece of string.

It has been known to complete within 24 hours of even making an offer, but things need to be in place, the solicitor (and everyone else involved) needs to agree to shift their backsides, and there has to be no complications along the way.

On the other hand, it was a good 6 months from the time I had my mortgage offer agreed, until I completed ... but that was because the house was not even built at the time the mortgage offer was made. (but my buyer had to wait the same amount of time too)

Normally, assuming nothing goes wrong, and you keep pushing everyone, it will take up to about 4 weeks to exchange, and then possibly another 2 weeks to complete.

I suggest you speak to your solicitor and see what they say.

The solicitor will ask for your deposit money ( up to 10%) before exchange. He will then ask for any balancing money before completion. He'll arrange the mortgage advance too.

Normally you will be invited to attend the solicitors office to sign the documents. If you are already well known to the solicitor, sometimes they will send you the documents to sign if necessary, but they prefer you to sign in front of them.

Thrugelmir

sam4u wrote: »

the property is chainfree and vacant and they want to complete asap ,

Is it a probate sale?

sulphate

Very difficult to say but we completed a week ago and this was our timeframe

06/05: offer accepted
08/05: solicitor instructed
11/05: full mortgage application made
15/05: valuation and survey carried out
20/05: valuation and survey received
31/05: solicitor sent enquiries to vendor's solicitor
01/06: mortgage offer made
18/06: searches all back
03/07: enquiries all back
10/07: contracts signed
12/07: contracts exchanged
19/07: completion

It depends on a number of factors for example ours was a bit delayed as the vendors solicitors apparently didn't answer the enquiries properly the first time round, and if we hadn't got our mortgage sorted quickly that could have delayed things. There are a many other reasons house purchases can be delayed. Good luck.

kingstreet

Completion takes place on a date agreed by all parties in the chain and contracts are exchanged when all the paperwork has been finished, contracts signed, deposit paid and the completion date set.

gazter

I put an offer in for the property im buying in first week of May, looking to exchange next week, hoping to move a week after.

sam4u

Thrugelmir wrote: »

Is it a probate sale?

nope, they already have another house and they usually travel to HK for business , so they cant spend too much time waiting for completion.