Cash buyer investor 8 week turnaround possible?

peppapig14

Cash offer recieved yesterday, and they would like to exchange and complete end March to avoid the stamp duty

We are going into rented , so if we accept offer would we request 2 weeks between exchange and competition to give us time to find somewhere ( willing to airbnb if needed )

Is this a possible turn around time?
Freehold house, last buyer pulled out , we had completed property inf forms and replied to some enquires, gave gas/electric certificates etc so thinking soluvtor side should be a bit quicker our end

tacpot12

It's very tight, because the seller doesn't yet know what they are buying. I doubt they will find a solicitor who will  agreed to even attempt it. I doubt it is possible, unless the buyer is prepared to not do searches, etc. which their solicitor will tell them is very risky. 

Hoenir

And if you do not complete before 31st March what's the cash buyers proposal? 

No conveyancer is going to guarantee anything. Far too many variables. 

AskAsk

not possible as the solciitors has a two week turnaround to even look at an email, so it drags on and on.  i find from my experience, even with cash buyer and no chain and freehold property, it takes 3.5 months! 

chanz4

possible in 2 weeks, we did it warning cash buyers like to drop price last second

FlorayG

It's possible but there's no way to guarantee it because you are both dependant on a lot of other people responding immediately. If it's a dealbreaker on the sale then forget it because you can't promise it

GDB2222

Back in the day when I had wheeler dealer clients, they sometimes used to exchange in 24 hours. Of course, 2 months is entirely possible.

However, as others have said, you are in other people’s hands. All you can do is respond rapidly, rather than say mulling over the fixtures and fittings form for a fortnight. 

I recently used a firm of solicitors near Manchester, and they dealt with everything the day it arrived. They were not the cheapest firm, but you can’t have everything. Pm me if you want the name but it sounds like you already have a solicitor you are happy with. 

saajan_12

Yes its possible. I've done that timeline with a low LTV mortgage in the mix as well. Just depends on how many complications there are, how much the buyers are willing to accept rather than question and how on the ball everyone involved is. 

As the seller, what are you trying to decide based on the answers here? That might make the advice more helpful. 

AskAsk

GDB2222 said:

Back in the day when I had wheeler dealer clients, they sometimes used to exchange in 24 hours. Of course, 2 months is entirely possible.

However, as others have said, you are in other people’s hands. All you can do is respond rapidly, rather than say mulling over the fixtures and fittings form for a fortnight. 

I recently used a firm of solicitors near Manchester, and they dealt with everything the day it arrived. They were not the cheapest firm, but you can’t have everything. Pm me if you want the name but it sounds like you already have a solicitor you are happy with. 

even if one solicitor deals with things quickly, the other side solicitors could still take ages.  then there are searches and management packs and surveys and ALM checks and mortgage approvals.

then there will be enquiries and possible further specialist surveys.  it takes a long time.  i am surprised someone said they did it in 2 weeks, doesn't sound plausible to me as it takes even longer than that for the searches!

user1977

AskAsk said:

GDB2222 said:

Back in the day when I had wheeler dealer clients, they sometimes used to exchange in 24 hours. Of course, 2 months is entirely possible.

However, as others have said, you are in other people’s hands. All you can do is respond rapidly, rather than say mulling over the fixtures and fittings form for a fortnight. 

I recently used a firm of solicitors near Manchester, and they dealt with everything the day it arrived. They were not the cheapest firm, but you can’t have everything. Pm me if you want the name but it sounds like you already have a solicitor you are happy with. 

i am surprised someone said they did it in 2 weeks, doesn't sound plausible to me as it takes even longer than that for the searches!

It's perfectly plausible provided everyone is motivated to get the transaction done (and assuming nothing crops up which is objectively a problem).

AskAsk

user1977 said:

AskAsk said:

GDB2222 said:

Back in the day when I had wheeler dealer clients, they sometimes used to exchange in 24 hours. Of course, 2 months is entirely possible.

However, as others have said, you are in other people’s hands. All you can do is respond rapidly, rather than say mulling over the fixtures and fittings form for a fortnight. 

I recently used a firm of solicitors near Manchester, and they dealt with everything the day it arrived. They were not the cheapest firm, but you can’t have everything. Pm me if you want the name but it sounds like you already have a solicitor you are happy with. 

i am surprised someone said they did it in 2 weeks, doesn't sound plausible to me as it takes even longer than that for the searches!

It's perfectly plausible provided everyone is motivated to get the transaction done (and assuming nothing crops up which is objectively a problem).

i still don't believe it.  unless the solicitors are both action straightaway and the ALM were already done on both side and it is freehold and cash buyer and no chain and the house is empty and the searches come back within 2 weeks, which is asking a lot and no questions were raised and the TA10 and TA6 forms were already completed and no survey is carried out.

that is a lot to ask!