How long for conveyance?

Anzhelka

Hello
I know that maybe many people have asked about this, so apologise for asking once again - who has experienced very quick conveyancing process or knows how long it usually takes? I know the answer will be - ask your solicitor and etc. We have asked, he has advised to wait. But we just want to know roughly how long does it take.
Key fact about the purchase - new build, shared ownership, offer received, valuation done couple of weeks ago, solicitors requested searches last Monday, still waiting for them to be back. What else needs to be done?
P.S. solicitor is very experienced in shared ownership.

theGrinch

Some councils will take days and others weeks as I'm currently experiencing.

Anzhelka

So the search is main thing to do and then exchange of contracts? or something else needs to be done?

Newbiebuyer2016

Same position as you, we instructed solicitors on the day the application went to the mortgage and the searches were all done and we signed the contract in 2 weeks I think. It was the mortgage offer that was delayed so took 4 weeks, so we are due to exchange this week now so 5 weeks into the process.

Anzhelka

Newbiebuyer2016 wrote: »

Same position as you, we instructed solicitors on the day the application went to the mortgage and the searches were all done and we signed the contract in 2 weeks I think. It was the mortgage offer that was delayed so took 4 weeks, so we are due to exchange this week now so 5 weeks into the process.

Your is quicker though, as you have instructed solicitors to do searches, before getting an offer. We we've been waiting for an offer, as we were declined last year for a mortgage, so didn't want to take a risk.
Do you know how long between exchange and getting the keys?

Zeebs90

Ours has been about 7 weeks but it is not new build so have had some issues that needed clarifying. Our searches took about 3 weeks to come back.

Anzhelka

Zeebs90 wrote: »

Ours has been about 7 weeks but it is not new build so have had some issues that needed clarifying. Our searches took about 3 weeks to come back.

I guess that new build can be quicker....

Newbiebuyer2016

Yes, but what I mean is the solicitors were all done in 2 weeks and just waited on the the offer.

Then they are doing the final bits this week - so 3 weeks worth of works up to exchange date.

We are then planning to complete in 2 weeks.

That's decided by us because it suits ended our rental tenancy.

Have you asked your solicitor a realistic timeframe?

Anzhelka

He only said, that he will receive searches back within one week, so I think he knows how long it takes to get them from this council, as he works here more then 20 years (so hopefully this week, as he requested them last Monday) and then we need to come to his office, he will read through all contract information and we will sign (is this called "exchange of contracts" or not? ) and then we will set up completion date.

Newbiebuyer2016

Anzhelka wrote: »

He only said, that he will receive searches back within one week, so I think he knows how long it takes to get them from this council, as he works here more then 20 years (so hopefully this week, as he requested them last Monday) and then we need to come to his office, he will read through all contract information and we will sign (is this called "exchange of contracts" or not? ) and then we will set up completion date.

You sign the contracts then the 'exchange'
Is with the solicitors of the HA.

anto164

There's another board which is giving commentary about how long it's taking people here forums.moneysavingexpert.com/showthread.php?t=4935553&page=301

For myself, from offer to exchange was just over 18 weeks. It all depends on the situations, and the chain, mortgage, leasehold / freehold etc.

I would say 12 weeks may be a general target, if it's less, great, if more, then that's normal too.