Typical Timeframe between exchange and completion

Yorkie1

Under the Renters' Rights Act 2026, which has only been in force since May this year, the notice period for tenants under those tenancies is now 2 months, ending on the last day of a rental period.

The standard recommendation on here to tenants who are buying a property is that they should not give notice until exchange has happened.

So, while a shorter notice period has historically been the position, I think this is one of the impacts from the RRA.

None of which invalidates the previous comments, but may help with the context for your purchaser.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82128675#Comment_82128675

That is fully understood. I am sure they do want to complete in less than two months, but that does not mean you have to accept it .

peterhjohnson

Two months is not normal. One week is common. If you are also part of a longer chain, you may need everyone else to accept 2 months which them may not agree to! Negotiate with this potential buyer of choose another

Jemma01

I recall exchanging on the 8th and completing on the 25th, that's 17 days.

I think 2 months is having a laugh, I too had to give two months notice. I would refuse anything above a month, but what's stopping them from ignoring you since you both want this over this, and you pulling out isn't an option.

whaleroad

https://forums.moneysavingexpert.com/discussion/comment/82128830#Comment_82128830

If you've got a smaller property that's more likely to attract FTBs then buyers who are currently renting may be the norm.

It's a huge additional expense for the buyer if they complete while they're still serving a notice period, and the demographic least able to afford it.

The buyer has no chain, and it's a buyers' market. That puts them in a strong negotiating position as far as I can see. It's an inconvenience to the seller, but if they've got a better offer then… go with them.

subjecttocontract

I'd consider that a request for a 2 month timeframe, between exchange & completion, as totally ridiculous and it would mean the potential buyer just wouldn't pass the acceptability criteria. You have 3 choices......accept it, negotiate a reduced timeframe or find another buyer.

Even if you negotiated a 1 month timeframe you have no guarantee this buyer won't insist, nearer to the time for exchange that it's gonna have to be 2 months. Thereby screwing everyone up and leaving you with a much more difficult choice of going along with it or pulling out, wasting your time and money.

eddddy

coffeetime1526 said

Can anyone who has recently bought or sold in this situation confirm if this kind of timeframe between the two is actually common now please?

No - it's not common. (When an estate agent is trying to get you to do something - they might say things like "It's very common, everyone else is doing it" to try to persuade you.)

You're selling to an FTB, but is there a chain above you? (i.e. are you buying at the same time as selling?)

If so, everyone in the chain needs to agree to the same time exchange and completion dates.

TBH, if there are 5 or 6 people in the chain, it can be difficult for the estate agents to get an agreement on this kind of stuff - one person wants 1 week, another wants 2 weeks, another wants 4 weeks, another wants 2 months, etc. So an estate agent might try the tactic of laying down the law and firmly saying "2 months" in the hope that everyone will fall into line.

Bigphil1474

We had a week between and that was normal according to the people we asked about it. I can understand your buyers wishes though. Depends if they are tight for cash. If I was renting and had to give 2 months notice, I'd probably ask for a month between exchange and completion so I'd have a month to get the new house sorted before I moved in. If I was skint, I would want to avoid the double costs. They may be able to come to an agreement with their landlord to give less than 2 months notice maybe.

subjecttocontract

Whilst I can understand a renting FTB might want 2 months, I think people further up the chain will not be prepared to agree to a 2 month period. Its yet another example of a poorly thought out plan by the Gov' that won't work very well in the real world.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/82128201#Comment_82128201

They become bound to buy the property and would be liable for damages under breach of contract were they to pull out say because a neighbour got confused, hit the gas rather than the break and went through the lounge wall. As such there is an insurable interest plus your mortgage offer will require you to have insurance. In many cases it will end up double insured but thats generally ok