How long from offer to completion

sharrn

I'm just looking for some advice about how long it takes on average, after receiving an offer to completion. Especially at this time of year with Christmas looming. I'm guessing it is just how ever long our Solicitors take but would like to hear how long some have you have had to wait.

Thanks

ACG

I would say around 4-6 weeks assuming no major issues.

AnotherJoe

This question is asked every few weeks. On average, which is utterly meaningless since why would you get the average, it might take 6 weeks to never. Around 30% of all chains fall through.

I would say 4-6 weeks would be about as fast as it could ever happen without the most absolute straightforward circumstances such as no chain, cash buyer only, no searches, all people in the chain focused and working for a very quick conclusion.

If ACG is correct that 4-6 weeks is average then that would mean that half of purchases took substantially less than 4 weeks, which is simply fantasy. Maybe they mean 4-6 weeks is as fast as you could hope for.

p.s. bear in mind that 1-2 weeks from exchange to completion is pretty standard, which means that if the average to completion was 4-6, the average to exchange would be 3-5 at worst. 3 weeks from offer to exchange is ridiculous as an average since that would mean half did it in under 3 weeks. Not gonna happen.

csgohan4

I took 3 months

ACG

I normally say 6-8 weeks from application to completion.
The application stage normally takes around 2 weeks before the offer is issued, which is where my 4-6 weeks came from.

The average I mentioned was if I do 10 mortgage, 7-8 of them would go from offer to completion in that time assuming everyone wants to complete asap. The other 2 would usually be more than that. However it is not unheard of to go from application to completion in 4 weeks.

kirtsypoos

We were FTB moving into an empty rented property and it took 9.5 weeks with both us and the vendor pushing every other day. be pushy!!

ShivasPlace

Why so long? My solicitor told me that once he has the mortgage offer through, then a week to exchange contracts then a further week to completion. Our chain is complete and all searches have been done though.

paul_1

9 1/2 months for us from offer to completion


All due to the vendor issues with their onward purchase (land registry) and mortgage offer (conditional on structural remediation work, offers expiring). We wanted the house, didn't have a chain below us so decided to wait.


Probably an extreme example, it does illustrate that sometimes it can be a long process.

AnotherJoe

ACG wrote: »

I normally say 6-8 weeks from application to completion.
The application stage normally takes around 2 weeks before the offer is issued, which is where my 4-6 weeks came from.

The average I mentioned was if I do 10 mortgage, 7-8 of them would go from offer to completion in that time assuming everyone wants to complete asap. The other 2 would usually be more than that. However it is not unheard of to go from application to completion in 4 weeks.

That would make the average higher than 4-6.
If 8 of 10 take 4-6 and 2 more than that, then by definition the average will be higher than 4-6.

ACG

AnotherJoe wrote: »

That would make the average higher than 4-6.
If 8 of 10 take 4-6 and 2 more than that, then by definition the average will be higher than 4-6.

The median average?

JP1978

We move on 25th November. House only went on the market on 12th September so just over 10 weeks for the whole process - we had 20 viewings and 5 offers in the first week. We completed last week for our sale and should be this week for our purchase.