How long will it take to move in?!?

mandgreen

Hi Guys

Really just wondered if anyone could give me an idea of when I am likely to be able to move into my lovely new home or if anyone can tell me how long the process took them in similar circumstances.

We had our offer accepted mid december knowing the current owners were waiting on theres to sell before looking for a house, they ended up having an offer accepted a week ago but the people they are buying off have yet to find a house. Our valuation took place last Monday and everything was fine with that and the solicitors have that together with our official mortgage offer and memorendom of sale and they have had an initial fee off me to begin their searches.

We are currently not in a chain and living seperately with family (hence our enthusiasm to move asap!) but now we are stuck in a chain I am struggling to see an end in sight!! If it did potentially run into a few months how likely is it that the vender will rent temporarily till there house is ready or could asking that potentially lose us the sale??!

kingstreet

I would have advised you not to apply for a mortgage, nor spent any money until the chain was fully formed to limit the chance of wasted money.

I can't see any reason why your purchase won't take the usual two to four months from offer to completion.

Tim_Bisley

It's a "how long is a piece of string" question unfortunately. Doesn't harm asking if they'll move, they can only say no.

I'd probably sit tight and not spend too much money until there was a complete chain though.

G_M

You should be able to move within between a couple of weeks and 6 months.

Assuming all goes well. The chain might collapse of course.......

pinkteapot

As above, next time around, don't apply for your mortgage or get your solicitor started until the chain is fully formed (everyone has had an offer accepted). There's no point as you'll still have to wait for people further up the chain to do their initial work when they join. Best to all do it at once.

Once the chain is formed, 2-3 months seems relatively typical (though can easily be shorter or longer). No way of knowing how long the chain will take to form as the current top of the chain may choose a house where the vendor needs to then look. You can start to make noise to the EA about how long it's taking and they can see if anyone is prepared to break the chain and go into rented, but don't hold your breath.

Ours went, roughly:

July 2013 - FTB offered on our house
Oct 2013 - we had an offer accepted on a house to buy (we kept the FTB updated and had been saying we'd understand if they went elsewhere). Our vendor had an offer accepted on their place within a few days.
Nov 2013 - the top of the chain (vendor for our vendors) agreed to go into rented after not finding anything.
Feb 2014 - moved in.

Our FTBs waited a long time but they were getting the house at a keen price. If we'd had a high offer, we'd have gone into rented. At what they offered, we'd have got another buyer at the same price in no time, so it didn't matter if we lost them. Hence we had no incentive to go into rented ourselves.

flora48

Prophet of Doom here... Sorry to say my move took 6 months to complete.

EmmyLou30

Hindsight after our purchase last year would make me not spend a penny till the chain was fully formed. People rarely move out to rent at the top of the chain in order to move things along further down, they might lie and say they will in order to get you to commit money to the process however and tie you into the chain!

As you've already commited money however, I would say continue to search for other properties and if a chain free one comes up cut your loses and buy that one instead as you could wait months, only to have the chain collapse and find houses have gone up in price in the meantime and you're screwed. As perfect as you think this house might be, it might also never be yours unless your vendor is willing to move into a rental. Equally you could be moved in 2 months if the top of the chain finds a house. It really is 'how long is a piece of string' I'm afraid.