House swap - time frames?

MattyNeth

In the current climate, we're lucky enough to have found a house where the owners want to downsize whilst we upsize. :-)

We've both had letters from solititors saying they anticipate a completion date of 2 months time??? Is this a standard letter they send out? The solicitors are literally 2 doors away from each other, mortgages are sorted out on both sides so why any sort of delay?

The only thing I can think of is the local authority searches. When we moved 4 years ago the council took 6 weeks to do this due to backlogs due to the roaring market, but now so few property here is being sold surely they will have caught up?

Fondue_2

Firstly, I suspect that it was a standard letter that you received.

However, don't be sure that houseswapping necessarily means a very quick timescale. Ok, you don't have a chain and there are only 2 parties, but that's also the case in a FTB buys empty property scenario, and then there is no associated sale. Your solicitors still need to go through everything they would normally do, and sadly the fact that they are in the same street probably means nothing now as everyone is so used to communicating by phone, fax and email.

On the plus side though, you may avoid some of the traumas associated with house purchase, i.e. your vendor and purchaser are one and you can probably give them a call to discuss any delays.