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What's the sale process? Offer -> Accept -> Exchange>

Financial_Savvy
Financial_Savvy Posts: 385 Forumite
in House buying, renting & selling
Can anybody help me with the sale and move house process.

How long between accepting an offer and exchanging? Is it legally binding when you have exchanged?

How long between exchange and completion?

Thanks

Comments

  • Bf109
    Bf109 Posts: 634 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    yes .
    [FONT=Arial, Helvetica, sans-serif]Rise like Lions after slumber
    In unvanquishable number -
    Shake your chains to earth like dew
    Which in sleep had fallen on you -
    Ye are many - they are few.    [/FONT]
  • Financial_Savvy
    Financial_Savvy Posts: 385 Forumite
    How long between accepting an offer and exchanging?:j

    How long between exchange and completion?:T
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It's as long as a piece of string. Things affecting the timescale are:
    - how "in place" the mortgage is
    - how long-winded the lender is about getting the surveyor round
    - how long it takes the surveyor report to be read/approved
    - if there are any issues in the survey to be pursued (further expert opinions needed)
    - how long the chain of buyers/sellers there are in total
    - how complex the chain participants' requirements are
    - if any participants in the chain require a particular date in the future (e.g. a parent might not want to disrupt a child's education/exam times)

    But some ballpark figures might be:
    1] Offer to exchange 5-9 weeks
    2] Exchange to completion 0-14 days more
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