Buyer wants completion in 4 weeks - is this possible?

lovehols

We moved out over the weekend so my house is empty (buyers viewed it on Saturday and made an offer 10 mins later which o refused and then agreed a price today). There is no mortgage and the buyer is a cash buyer that has sold her house.

She is keen to complete and I don't believe she is having any surveys etc done, obviously as a cash buyer she doesn't need them to satisfy a mortgage company so that's her choice. I already have a solicitor I used for my purchase and who has all deeds etc of my house and property info and fixtures and fittings form I've just done. I'm guessing that it will be really down to the buyer now and how fast they can sort things their end. Has anyone ever completed in 4 weeks?

ACG

Yes, even with a Mortgage.
Assuming no issues with the conveyancing all should be fine.

need_an_answer

Make sure your solicitors know the timeframe it's achievable but you need to keep the momentum up.

Our first house was completed in 24 days from offer acceptance to keys in our hand.

Clutterfree

Depends on the Local Authority. Ours take 6-8 weeks to process searches.

lovehols

Thanks. Out solicitor is fine with it, I guess it is all down to her solicitor and searches.

agrinnall

Certainly possible in Scotland, and I guess even in England. But unless you exchange now and set the completion date at 4 weeks hence it will only ever be an aspiration until exchange does take place, and by that time is your buyer likely to pull out if the date slips a week for some reason?

Thrugelmir

lovehols wrote: »

the buyer is a cash buyer that has sold her house.

Much depends on your buyer's purchasers. How far into the process are they? Is this the extent of the chain?

davidmcn

Clutterfree wrote: »

Depends on the Local Authority. Ours take 6-8 weeks to process searches.

Never understand why the English put up with these delays - I suspect just a useful excuse for the solicitors to go slow! In Scotland we ditched the local authorities years ago and everyone gets local searches from private providers - typical turnaround a couple of days.

lovehols

Thrugelmir wrote: »

Much depends on your buyer's purchasers. How far into the process are they? Is this the extent of the chain?

She completes her sale this week and will be temporarily living with relatives, cash buyer from sale of her house. So that's it, no chain for either of us, no mortgage etc

Surrey_EA

Certainly possible, with a couple of decent solicitors, and providing all paperwork is in order.

Given there is no mortgage there is no requirement to carry out searches, but it would be a brave buyer who goes ahead without them.

need_an_answer

The thing is you can certainly agree to it,until you try for a quick sale/purchase you don't know if it is achievable.

Chances are exchange and completion will take place close together,it sometimes means no one is committed to the transaction until very near the end but if that's what you both want then try for it.

Has the purchaser asked for a cast iron completion within 4 weeks or is there perhaps a little wriggle room?
Having bought our first property in 24 days we knew it was possible so have always opted for as quick as possible going forward without compromise.

Our last property we wanted to ideally complete in 7 weeks and it took 9 but we nor the vendor had a cast iron "if you don't complete" we will .......type conversation it was just implied on both sides as quick as possible please.