Buying a flat and this is our timeline so far - how are we doing so far and soon can we complete?

PK_London

We are in the process of purchasing a flat and here is the current timeline from the day our offer was made. We already had a mortgage AIP in place.

02/05/2022 - Offer made

17/05/2022 - Offer accepted (there was a bidding war)

19/05/2022 - Memo of sale received

06/06/2022 - Valuation done (delayed because of the jubilee bank holiday)

15/06/2022 - Mortgage offer made by bank

28/06/2022 - Draft Contract received - feel this should have come sooner

04/07/2022 - Fixtures and fittings report presented

07/07/2022 - Local and environmental searches report presented

09/07/2022 - Seller’s packs from both Estates and Management and the LPE1 pack have been sent to the vendor's solicitor from the seller.

I have a first time buyer for my current flat and a chain free vendor for my new purchase so only our progress will determine . Can anyone estimate the earliest possible we can complete? It's been over 2 months since our offer was made. I'm quite happy for others to post their buying timeline and seek the same advice here.

Thank you!

jonnydeppiwish!

unfortunately, how long is a piece of string. Hopefully you’ll manage 10-12 weeks, might be up to 16.

Are you in a chain? Are you applying for a mortgage?

jonnydeppiwish!

We took 10 weeks on a no chain, no survey, cash purchase.

alelly

I am a FTB closing on a property with no chain, will be 4 months from offer accepted to closing. The agent isn’t really involved but did advise me at the outset that that was the average they were seeing for starightforward transactions at the moment.

Tiglet2

Regardless of all the pre-legal stuff you mention, your solicitor has only had the draft contract pack for 8 working days, therefore the work that the conveyancer must do to ensure you are buying a good and marketable title has only just started. 

It is impossible to even hint at a timeline this early and posters quoting how long their conveyancing has taken cannot be used as a guideline as all conveyancing transactions are different.  

The two months since your offer is really irrelevant other than you have done all you can with regard to obtaining a mortgage, survey and searches.  It is the legal work which will determine how long it will take.

sidneyvic

You should be in for Christmas, you solicitor may be slightly more precise, possibly you need to learn patience is a virtue.

trakky14

Considering solicitors take forever you've probably got a good month or two till you're there assuming nothing holds you up. It's ridiculous how long they all take!

PK_London

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PK_London

trakky14 said:

Considering solicitors take forever you've probably got a good month or two till you're there assuming nothing holds you up. It's ridiculous how long they all take!

Well, you right. It has been over 2 months already my buyers mortgage expires in September so I hope its complete in the next two months. I rang my solicitors today and she is now on holiday for the next two weeks (!) A junior in her office is taking over and has just received a big bulky management pack from to vendors Management company so she's starting her review of that today. It is a shame all of these processes - especially for lease holds isnt standardised so the whole process take no longer than 30 days. Some of the questions my own solicitor is asking the vendors solicitors are so stupid and irrelevant (such as noise in the neighbourhood or proximity to a train station - obviously it would be my fault if i chose to buy outside a karaoke pub or nightclub) its just dragging the process on. I did ask her about a possible ETA but she didnt have one.