4 Weeks between Exhange and Completion

Dan-Dan

Hi All

Just ruminating on the possibility of needing the above in the future..
We could be moving 300+ miles, based on this, i would need as long as possible between exchange and completion

Mainly because i couldnt/wouldnt give notice to work nor be able to book removals without the security of exchange

If you were in a chain with one link in the above position, would it put you off

Anyone who can help me see it any other way please do let me know

Cheers

pinkteapot

I'm sure that some years ago, four weeks was pretty normal. It seems to have become shorter and shorter. Wouldn't put me off at all - my last two moves were 6 weeks and 10 weeks! (thanks to various dates various people in the chain couldn't do)

By the time you get to exchange, the whole process has been going on so long that an extra couple of weeks makes very little difference.

You could mention it at the outset (to people viewing), so that people who NEED to buy quickly don't offer.

Dan-Dan

Thanks Pinky!

Yes, we intend to be 100% up front to any viewers/offerers , thats a good shout, i think if i were in their shoes and i knew the situation i would accept it, i think, selfishly i my vendor was moving down the road, i wouldnt be that happy..

marksoton

I'd just mention it is a major relocation. If they're bothered by that you probably wouldn't want them purchasing your property anyway...

k3lvc

A lot depends on how saleable your house is and how desperate you are to sell it. Depending on the market in the area are you able to rent/bunk with mates/Travelodge if the period was shorter than 4 weeks.


Again removals companies are used to dealing with much less than 4wks notice


By all means be up front with people but don't narrow your target market by putting unnecessary barriers/concerns in their heads

dc197

It would not put me off in the slightest. I don't think you'd need to worry about being up front about it, because it's my understanding that 20 working days - 4 weeks - is the standard period written into Law Society 5th edition standard Ts&Cs anyway. Negotiating less than 20 days is an option, not a standard.

No harm in managing expectations by sharing your plans with others though.

AdrianC

How well do you know the area you're moving to? What happens if the new job doesn't pan out, or you hate the area and want to go home?

Might it be a wiser idea to break the chain, rent a place, and see how you settle - then buy in due course.

dragonsoup

I've always thought 4 weeks was "the norm". Certainly has been in all my purchases other than the last one which was an investment property. The vendor and I actually agreed a completion date between us right at the outset and exchange happened when my solicitor was ready.

mildredalien

We're likely to request 4 weeks as well, so that we don't have to risk giving notice on our rented place before we exchange. I'd imagine that's quite normal for FTBs at least.