How long till house exchange

Laurelii

We have recently been give our mortgage offer, i told our sellers and they stated that there solicitors are crap and they're having to contact them to get replies from questions they were asking weeks ago ( even our solicitors are still awaiting further enquires in regards to their searches and this was 2 weeks ago now) the seller also said that the person who they're buying off is still yet to have a house offer accepted. I know it depends on the length of the chain (I don't know this ) but how long do you think we will be waiting for exchange between me and my sellers ? our mortgage offer runs out at the end of Feb !?

wilfred30

I don't think anyone can answer that question.  It could be 6 weeks or 6 months, take your pick!

MaiTai

Nobody is in a position to even contemplate suggesting exchange dates as the chain is yet to be fully formed.

Transactions (on average) are currently running at around 8-12 weeks for freehold with maybe an extra month if leasehold property involved.However many solicitors have an extended break of up to 2 weeks over the Christmas period which will add to timescales until the New Year.

Much will depend on how long it takes the chain to complete and the efficiency of all involved parties.Progression is only as fast as the slowest link!

london21

Laurelii said:

We have recently been give our mortgage offer, i told our sellers and they stated that there solicitors are crap and they're having to contact them to get replies from questions they were asking weeks ago ( even our solicitors are still awaiting further enquires in regards to their searches and this was 2 weeks ago now) the seller also said that the person who they're buying off is still yet to have a house offer accepted. I know it depends on the length of the chain (I don't know this ) but how long do you think we will be waiting for exchange between me and my sellers ? our mortgage offer runs out at the end of Feb !?

Chains can drag on, 3 months might be tight. 

pinkteapot

The whole chain exchanges simultaneously. You have to wait for your seller's vendor to find a house and be ready to exchange on that, OR your seller's vendor needs to agree to break the chain and move into rented/temporary accommodation while they keep looking for a house. They may well refuse to do this. 

Thrugelmir

If the chain isn't complete there's little point in getting excited over solicitors apparent inactivity. As time costs money. May yet all fall apart. 

Solicitors will be spending their working day focussing on transactions which are actively progressing.