Waiting to exchange contracts!!

Adly812

A chain of buyers, my buyer is my neighbour so it's quite simple as he knows my property. He's had his buyer perform a survey on his flat which raised no issues. We've been through the seller packs. As far as I'm aware my buyers buyer is a first time buyer with his mortgage in place... my leasehold pack has been presented to my buyer... So now I'm in suspense... How much longer until we can exchange? It's been since 21/3/17 since solicitors have been "working".

Surrey_EA

I'm afraid the answer is how long is a piece of string.

Does your buyer need a mortgage?
if so has the valuation been carried out?
Have your buyer's solicitor applied for the searches?
Have they raised any enquiries?
Do you have an onward purchase?

Your buyer being your neighbour, and already being familiar with the property, is unlikely to make any real difference to the speed of the transaction I'm afraid. Their solicitor will still need to go through the same processes, particularly if they require a mortgage, as the solicitor will also be acting for the mortgage lender.

Typically a sale takes around 10-12 weeks, but it's not unusual for leasehold transactions to take longer.

Slithery

Duplicate of...
https://forums.moneysavingexpert.com/discussion/5648994

G_M

Your respective solicitors (unless you are DIYing the conveyancing) and mortgage lenders (if borrowing money) will have a better idea than anyone here possibly could have.

Adly812

Thanks everyone. My buyer does have a mortgage attached. I have a place to move into already, so I'm effectively at the end of the chain with no delays on my side. Thanks for your advice. I guess we should be near the discussion of exchange dates, as no enquiries were raised.. Here's hoping its soon as it's been 8/9 weeks already