We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Decision accepted in principle.

grayson
grayson Posts: 114 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Mortgages & endowments
We are selling my late mum's home. The buyer has confirmed with our solicitor the have a decision in principle. We are now waiting for their lenders valuation. My question is how long will it take now before property is sold and funds are transferred to us for sale? Thanks

Comments

  • MovingForwards
    MovingForwards Posts: 17,116 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    Upto 6 months, depends on what the survey reveals, if additional surveys or repair quotes are required. Also searches and enquiries may take a while and we've Christmas/ New Year coming up.

    Your solicitor is best places to guide you as they know how quickly information is being turned round.
    Mortgage started 2020, aiming to clear it in 2026.
  • ACG
    ACG Posts: 24,091 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    In theory if the application is in, they should have an offer next week. Its then down to their solicitors and yours and that should take maybe 2-3 months. 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • grayson
    grayson Posts: 114 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    The buyer offered asking on day one. She has a number of rental properties plans to renovate it to rent. Wants it no matter what survey says  
  • Edi81
    Edi81 Posts: 1,467 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    grayson said:
    The buyer offered asking on day one. She has a number of rental properties plans to renovate it to rent. Wants it no matter what survey says  
    Then it comes down to the legal side of things - local searches, solicitors enquiries. 
    3 months for a freehold property is about standard. 
    Has probate been granted?
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 347.2K Banking & Borrowing
  • 251.6K Reduce Debt & Boost Income
  • 451.8K Spending & Discounts
  • 239.4K Work, Benefits & Business
  • 615.3K Mortgages, Homes & Bills
  • 175.1K Life & Family
  • 252.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture