4weeks between exchange and completion - Too long???

Veeo

Hi all,

Looking to sell me house because I will like to move 200 miles away and buy a new place with the money from this one. So my initial thought was to move out, let it then put it on the market after 6months and hope it sells quickly so that I don’t pay for two properties at the same time. But know my plans have changed, I am going to stay in my house and put it on the market straight away but I would like at least 4weeks between exchange and completion to sort out new nursery for my child, rent a new place, and work my notice at work.

Do you think buyers would be put off by the 4week gap between exchange and completion? Tia xxx

lincroft1710

4 weeks is actually the norm!

Kalamazoo

Some will, some won't!


There's no standard gap between the two. Some people exchange and complete on the same day, some over a week, some 2 weeks etc. Whatever works best for you, the vendor, and the chain if applicable.


The gap between exchange and your eventual completion date will form part of the contract, it's up to you to let the other side know (via your solicitor) that this would be your preference, and then hope they're ok with it. I see no reason why anyone would be that bothered, just be upfront about it from the start in case your vendors have any deadlines of their own.

Surrey_EA

lincroft1710 wrote: »

4 weeks is actually the norm!

I would have said that 2 weeks is more common than 4.

As Kalamazoo says, the period between exchange and completion is a point for negotiation.

lincroft1710

Surrey_EA wrote: »

I would have said that 2 weeks is more common than 4.

As Kalamazoo says, the period between exchange and completion is a point for negotiation.

May have lessened in past few years, but the ones I dealt with were 4 weeks.

LoopyLoops

As long as you let the buyer know when you accept their offer, at least you have been honest about your situation.

Mobeer

I think I had about 6 weeks, simply because it suited both me (seller) and the buyer - its a matter of negotiation.

mrschaucer

The standard conditions of sale state 20 working days between exchange and completion (6.1.1) but this is not binding and is often varied by agreement between the parties.

phoebe1989seb

We've bought and sold seven times and have never had more than eleven days between exchange and completion. Most have been one week. Last couple of moves were long distance (150/200 miles) and we had five days for one and eleven for the other. Next time will be another long distance move and think we'll insist on a month!

Talk it through with your buyer when an offer is accepted and hopefully you'll reach a mutually convenient arrangement.....

nicmyles

Depends on what you and the buyer can negotiate. It's not uncommon. We had four weeks between exchange and completion on our last purchase, because the vendor needed to go into rented after the chain stalled, and wanted more time to arrange it.

Veeo

Thank you all very much, very helpful comments here xxx