Decision accepted in principle. 7 December 2022 at 1:35PM in Mortgages & endowments 4 replies 212 views

grayson

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

MovingForwards

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.

ACG

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. 

grayson

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

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?