How long from offer to completion at the moment?

Pow11890

Were on day 120

julicorn

jt1413 said:

74jax said:

jt1413 said:

So we accepted an offer on our house in early April. No chain either side. 

Our buyers are incredibly keen to complete ASAP (they rang our estate agents 3x in one morning after we'd accepted their offer). We've signed our contract and transfer etc and sent it back and answered questions/filled in forms the same day but we've been given a completion estimate of 22nd july-5th August. Is this accurate? All our documents are online, no need to post anything.

When we bought our house two years ago we were in 6 weeks after offer and I know the world's changed a lot since then but over 4 months for a no chain straight forward sale? 

What did they want in 1 morning that took 3 calls? They may be buyers who pester for every little thing, which ultimately delays the actual progress. 

They wanted to check that it was sold subject to contract as the rightmove ad hadn't been updated and then also to check that the solicitors were being informed.

So far so good with them, I think they're just very eager not to lose their cash buyer by the sounds of it and we suspect they've bought our house to get their son into the better secondary school in our area.

Sounds like you do have a chain after all then,  their buyer -> them -> you.

fortgrange

Nearly 6 months from offer to completion for us.

We sold to FTB and we bought a vacant possession. Should have been as simple as it gets. Our buyers solicitor would have been last in a race with a couple of snails.

I think we would still be going through the process if our vendor hadn’t threatened to go back on the market because of the time it was taking.

He moved his tenants out 2 or 3 months before he had to, so to say the least he wasn’t very happy.

Considering the costs involved efficiency and customer service seem to be somewhat  lacking.

Folksriker

fortgrange said:

Nearly 6 months from offer to completion for us.

We sold to FTB and we bought a vacant possession. Should have been as simple as it gets. Our buyers solicitor would have been last in a race with a couple of snails.

I think we would still be going through the process if our vendor hadn’t threatened to go back on the market because of the time it was taking.

He moved his tenants out 2 or 3 months before he had to, so to say the least he wasn’t very happy.

Considering the costs involved efficiency and customer service seem to be somewhat  lacking.

Come now, most solicitors respond to their customers within at least 5 business years...

babyblade41

Folksriker said:

fortgrange said:

Nearly 6 months from offer to completion for us.

We sold to FTB and we bought a vacant possession. Should have been as simple as it gets. Our buyers solicitor would have been last in a race with a couple of snails.

I think we would still be going through the process if our vendor hadn’t threatened to go back on the market because of the time it was taking.

He moved his tenants out 2 or 3 months before he had to, so to say the least he wasn’t very happy.

Considering the costs involved efficiency and customer service seem to be somewhat  lacking.

Come now, most solicitors respond to their customers within at least 5 business years...

That is why good solicitors are worth finding & then keeping..I've been with mine for over 30 years 

74jax

jt1413 said:

74jax said:

jt1413 said:

So we accepted an offer on our house in early April. No chain either side. 

Our buyers are incredibly keen to complete ASAP (they rang our estate agents 3x in one morning after we'd accepted their offer). We've signed our contract and transfer etc and sent it back and answered questions/filled in forms the same day but we've been given a completion estimate of 22nd july-5th August. Is this accurate? All our documents are online, no need to post anything.

When we bought our house two years ago we were in 6 weeks after offer and I know the world's changed a lot since then but over 4 months for a no chain straight forward sale? 

What did they want in 1 morning that took 3 calls? They may be buyers who pester for every little thing, which ultimately delays the actual progress. 

They wanted to check that it was sold subject to contract as the rightmove ad hadn't been updated and then also to check that the solicitors were being informed.

So far so good with them, I think they're just very eager not to lose their cash buyer by the sounds of it and we suspect they've bought our house to get their son into the better secondary school in our area.

What cash buyer? I thought it was chain free? 

Noneforit999

We are just over 3 months from accepting our buyers offer.

Turns out they cannot get their BTL mortgage as the lender wouldn't lend them enough but that took about 11 weeks to get a decision.

Now they are having to list their house for sale to buy ours so I am expecting another 2-3 months.

Technically neither of us were in a chain, although we are now they are needing to sell their house. 

Tiglet2

jt1413 said:

So we accepted an offer on our house in early April. No chain either side. 

Our buyers are incredibly keen to complete ASAP (they rang our estate agents 3x in one morning after we'd accepted their offer). We've signed our contract and transfer etc and sent it back and answered questions/filled in forms the same day but we've been given a completion estimate of 22nd july-5th August. Is this accurate? All our documents are online, no need to post anything.

When we bought our house two years ago we were in 6 weeks after offer and I know the world's changed a lot since then but over 4 months for a no chain straight forward sale? 

It is impossible for anyone to give you a timeline yet.  You've only been under offer for a couple of weeks.  Therefore, the estimated date of 22nd July to 5th August is merely a guess.  4 months for a conveyancing transaction is an average - some transactions will be quicker than this and some will be slower.  At this stage, your solicitor doesn't know, so they've suggested this date as a way to manage your expectations.

There is a chain, as confirmed by yourself because your buyers have to sell in order to purchase yours.

You cannot say that this is a straight forward sale.  You don't know what the buyer's solicitor will raise enquiries about yet or what paperwork and evidence they want to see.  You also don't know what enquiries will be raised on your buyer's sale.  All transactions are different and very few are straight forward.

hpsauce86

jt1413 said:

So we accepted an offer on our house in early April. No chain either side. 

Our buyers are incredibly keen to complete ASAP (they rang our estate agents 3x in one morning after we'd accepted their offer). We've signed our contract and transfer etc and sent it back and answered questions/filled in forms the same day but we've been given a completion estimate of 22nd july-5th August. Is this accurate? All our documents are online, no need to post anything.

When we bought our house two years ago we were in 6 weeks after offer and I know the world's changed a lot since then but over 4 months for a no chain straight forward sale? 

Offer accepted 5th February, still not exchanged due to vendor buying a new build. We've been ready to exchange for a month now. We are FTBs in rented, so it's a tiny chain. The vendor told us she wanted a quick move but I guess it will happen when it happens. I think the 4 months is easily understandable to be honest, it may happen in June but you really can't tell!