We finally had our offer accepted!

Vikaroo

Hi all

I recently posted on here about us looking at a private sale. Well this is now going ahead and the house has not been on the market. We had a decision in principle from L and C and Ive got to ring them up tomorrow and actually apply for the mortgage and then get survey done solicitors in etc. We are probably going to use the same solicitor.

My only worry is he seems to think this process will be really fast and complete in 4 weeks but im not so sure especially with xmas underway very soon. There is no chain as he is moving into his girlfriends house and we are first time buyers.

What do you guys think?

Thanks

Vikki

Odie_Schmodie

Congratulations!

Who is L and C?

Yes it might take longer than what he reckons but also just as unlikely that anyone else can move any more quickly, and Christmas would have slowed down any other aspect of a sale anyhow. (In my case the time between the arrangement for the survey and the date given for it is 3,5 weeks!!) Good luck I am sure it will all work out.

System

we have just sold a vacant house to a FTB and its taken 10 weeks ! they did have an issue with their mortgage application and had to apply elsewhere but i reckon it still would have taken around 8 weeks.

pinkteapot

I sold a flat chain-free to a cash buyer (no mortgage) who didn't get a survey done and who did his own conveyancing (no solicitor delays). Was still 5 weeks from offer to completion.

As above, 8 weeks would ordinarily be comfortable but you will lose a good week with Christmas. Just start the ball rolling as quickly as you can.

Use the same solicitor as who?

Vikaroo

L and C are the mortgage broker and I meant use the same solicitor as the seller?

eddddy

Vikaroo wrote: »

... I meant use the same solicitor as the seller?

Hi Vikaroo

No solicitor would allow that - because of the potential for a conflict of interests.

(You could use two different solicitors within the same firm, if the firm is big enough, but there's no real benefit to that.)

Vikaroo

That's what I meant the same solicitor company. I didn't mean the same person!

Kynthia

Vikaroo wrote: »

That's what I meant the same solicitor company. I didn't mean the same person!

Why on earth would you want to do that? Find someone who isn't friends with their solicitor and will look after your interests first as that's what you are paying for.

Kazza_Monkey

Hello I wanted to warn you do not use the same solicitor firm otherwise you will end up in the same situation as us. Just about to exchange then your lender will turn around and say you have to change solicitor as most lenders will not allow this please don't make the same mistake. We are 14 weeks on from offer and still not exchanged.:eek:

Vikaroo

Ok I will take your advice thanks guys, think we are going to go with the conveyencers who our mortgage broker provided a quote for now as they provide no sale no fee which seems to offer a bit more peace of mind. Either way do you think 4 weeks is him being very optimistic or is it me?

Kazza_Monkey

4 weeks with a mortgage involved is very optimistic. But not impossible, you will need to chase the solicitor and EA every day. Also you will need to make the deadline clear to your own solicitor so they will work to this. Bear in mind the average transaction takes 12 weeks to completion so it would be a very tight schedule to work to. Good luck with it keep us updated with your progress

Just also wanted to mention 2 weeks Christmas holidays are coming soon too so personally I think 6-8 weeks is more realistic .