Cash Buyer Timeline

JCR982

We sold our flat but unfortunately it fell through at the very last stages.  Within a few days of remarket it, we had a cash buyer make an offer which we’ve accepted.  They are definitely cash buyers so there won’t be anything that pops up later on and I believe they were going to make enquiries about purchasing the searches that had already been completed, not sure about the survey as I don’t think they can do that.  I haven’t asked our solicitor & will do on Monday but I was just wondering how many weeks the sale will take / I know it’s a total estimate but we have our fingers crossed that we are in our new place by Christmas! 

greatcrested

JCR982 said:

We sold our flat errrr no  but unfortunately it fell through at the very last stages.  Within a few days of remarket it, we had a cash buyer make an offer which we’ve accepted.  They are definitely cash buyers define? No mortgage needed? No house to sell? Both? so there won’t be anything that pops up later on

Hahahahahaha! How can you know??

and I believe they were going to make enquiries about purchasing the searches that had already been completed, not sure about the survey as I don’t think they can do that. They might be able to they might not. Won't makemuch difference.

 I haven’t asked our solicitor & will do on Monday but I was just wondering how many weeks the sale will take

Between 4 weeks and 4 months. Too many unknowns this early on, but don't assume 'cash buyer' = ease or speed.

JCR982

greatcrested said:

JCR982 said:

We sold our flat errrr no  but unfortunately it fell through at the very last stages.  Within a few days of remarket it, we had a cash buyer make an offer which we’ve accepted.  They are definitely cash buyers define? No mortgage needed? No house to sell? Both? so there won’t be anything that pops up later on

Hahahahahaha! How can you know??

and I believe they were going to make enquiries about purchasing the searches that had already been completed, not sure about the survey as I don’t think they can do that. They might be able to they might not. Won't makemuch difference.

 I haven’t asked our solicitor & will do on Monday but I was just wondering how many weeks the sale will take

Between 4 weeks and 4 months. Too many unknowns this early on, but don't assume 'cash buyer' = ease or speed.

I meant they are a cash buyer as in they have the money in their bank. Our flat will be rented out.

I agree things might pop up later but I would be surprised if it was to do with funding - I know of them aNd I know there are funds there. 

Ah boo re the timeline I was hoping for max 12weeks if poss - we haven’t specified any timing so was just a pipe dream! 

davidmcn

Could be done within days if they really really want to. But probably won't. When do they want to complete?

Carl2510

I completed on my sale from a cash buyer yesterday 02/10/2020 I accepted the offer on 16/07/2020.

its slower than you think. And he didn’t even get a survey done!

babyblade41

My last purchase.. both of us cash buyers .. empty property my end.. took 3 months ..don't ever under estimate the wheels of house buying turn very slowly 

[Deleted User]

I bought a BTL - with a 75% mortgage
offer 16th July 
complete 18th Sep
But was a freehold house, road next to mine, same builder as mine, no additions or changes to the property. 

I turned things around at the speed of light. So it can be done if everyone is all over it, most especially the conveyancing solicitors. 

Leaseholds can take longer because of the freeholder 

Greatgimp

I've done a house swap in one day short of a month with us both needing mortgages.

Slinky

We were cash buyers, had offer accepted end of March, we were looking to complete in June, vendor took until September to clear out the probate house, having gone on holiday in August. We lost our September holiday we'd paid 90% of as being the only time due to work schedules we could complete that would fit in with the vendor.

Greatgimp

Greatgimp said:

I've done a house swap in one day short of a month with us both needing mortgages.

* Some years ago, not recently.

Flugelhorn

just sold to cash buyer (no chain) - offer at end of June, completed mid September so about 10 weeks