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How quickly can a house sale go through?
clairecymru
Posts: 522 Forumite
Accepted an offer on our house today. Yey!
The only stipulation the buyers have put in place is that they want to be in before the end of November.
We have already moved out into rented accommodation. They have sold their house privately and have a large deposit.
Can it be done?
The only stipulation the buyers have put in place is that they want to be in before the end of November.
We have already moved out into rented accommodation. They have sold their house privately and have a large deposit.
Can it be done?
0
Comments
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It's possible if both solicitors are proactive and no snags show up. I did it ...but my solicitor insisted all the way through that it was impossible. It was however a cash sale....if you have a mortgage involved the odds drop dramatically
I think your buyers are a bit optimistic TBH the most likely cause of delay will come from their lenders though so not much for you to worry about so long as your solicitor is aware you want to move things along quickly.I Would Rather Climb A Mountain Than Crawl Into A Hole
MSE Florida wedding .....no problem0 -
I went to see a client on the 3rd of September, he had his keys on the 23rd. He had a deadline given to him by the vendor. We all worked hard to get it done in that time.
If you get a good lender and most importantly a good solicitor 5-6 weeks is plenty of time.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
clairecymru wrote: »The only stipulation the buyers have put in place is that they want to be in before the end of November.
Onus is on them to push the transaction along. As ball is in their court.0 -
I'd say it can be done......when we sold our last-but-one house six years ago we accepted our buyers' offer on the 10th Oct (IIRC) and put in our offer on the house we wanted to buy a few days later. We completed on both sale and purchase on 30th November which was our buyers' desired date. They gad already sold their house privately (and were cash buyers for ours) and we weren't getting a mortgage plus our vendors were going into rented. All the solicitors were extremely pro-active and all the sellers/buyers were too
Mortgage-free for fourteen years!
Over £40,000 mis-sold PPI reclaimed0 -
24 hours is theoretically possible.
(but that assumes cash no mortgage not bothered with official searches survey etc)0 -
It is possible and the easiest way is to have completion a day or so after exchange. Usually people have a month or so and almost everyone wants to move on a Friday so they have the weekend to unpack. Most people have to arrange time off work, get a removal firm, change over utilities etc so most people want a month after exchange.
All the paperwork has to be in order before your solicitor will exchange (at exchange the place is yours and you have to insure it).
I would ask your solicitor if he can do it quickly and get it in writing that provided there are no unforeseen circumstance he can. You really do not want lazy people that could be doing things but are not in your situation.0 -
We are buying a new build and there is a lot of pressure to exchange within a month and complete asap.0
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Make sure your solicitor does not charge you extra for a shorter time between exchange & completion.0
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I assume they need a mortgage ,then its up to the buyers to get their finger out and get everything moving ,but it should be possible .clairecymru wrote: »Accepted an offer on our house today. Yey!
The only stipulation the buyers have put in place is that they want to be in before the end of November.
We have already moved out into rented accommodation. They have sold their house privately and have a large deposit.
Can it be done?"Do not regret growing older, it's a privilege denied to many"0
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