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Offer to completion in 5 weeks? Tell me it's possible....

(24 Posts)
AllBoxedUp Tue 25-Jun-13 21:53:54

.....and how to make it happen! Buying a chain free property after first purchase fell apart. We have a buyer ready to go. Is 5 weeks possible? Thanks.

TerrysNo2 Tue 25-Jun-13 21:58:37

Yes but you need to be totally on top of things. Make sure all the solicitors and the EA's are also on board and call them as much as necessary for updates/ass-kicking.

The only thing that can be a pain is the mortgage valuation as you can get stuck in the system for this so get it actioned ASAP. Our valuation took 5 weeks from instruction (Nationwide).

Also, get your searches started ASAP as they can take a couple of weeks.

doublecakeplease Tue 25-Jun-13 21:58:43

We did it in 4 weeks - no chain in future house as the owner had died. Bloke buying ours was sleeping on someone's couch so was ready to go. Was great - packed quickly and took the opportunity for a massive clearout (amazing what having a skip to fill does to you!)

Solicitors were happy with the quick turnaround as obviously they get paid quickly. Easily do-able :-)

AllBoxedUp Tue 25-Jun-13 22:06:26

Great. That's what I like to hear. Under no illusions it will be easy but at least it's feasible.

OddSockMonster Tue 25-Jun-13 22:07:08

Wow, 4 weeks is good. We did ours in 7, but that was with a few complications that needed to be sorted and signed off. Agree with getting the mortgage valuation posted quickly.

AngryFeet Tue 25-Jun-13 22:09:43

Chain free because the house is empty? I did it in 6.5 weeks from offer to exchange but had to have another 2 weeks to completion due to the owners needing a bit of time to get sorted. Could have been quicker to exchange if I had been more on top of things in the first 3 weeks. After that there were almost daily phonecalls to estate agent, solicitor and broker to keep chasing bits. So yes theoretically possible if you aren't worried about being a pain in everyones arse for the next few weeks!

AllBoxedUp Tue 25-Jun-13 22:22:19

The house is empty and the owners have bought elsewhere ans moved already. I don't think it is going to happen but will give it a good try. Going to do paperless mortgage application tomorrow. There's a chance if it doesn't go through in that timeframe that our chain will fall apart but I don't exactly want to broadcast this to our sellers so not sure how much pressure I can put on. They are apparently keen to sell asap though so they aren't paying for 2 houses.

FunnysInLaJardin Tue 25-Jun-13 22:25:56

it is possible but you need to be on the case and chase on a daily basis. As a former property solicitor turned manager I know that the only way to make it happen is to make yourself a PITA! Ask for copies of everything ie local search applications etc. I would have hated you, but you would have got a move in 5 weeks!

Shesaysso Tue 25-Jun-13 22:30:50

We did it in 19 days, exchanged and completed on moving day - very stressful though!

RaisingHooligirls Tue 25-Jun-13 22:39:16

wow! I can't believe how quickly it can be done. 19 days!! shock
was that 19 days from offer accepted? or 19 days from survey coming back?

bico Tue 25-Jun-13 22:44:30

I did 20 days from first seeing property to moving in. I was renting and the vendors were buying a house in a probate sale. Easily doable if all parties are willing.

Manchesterhistorygirl Tue 25-Jun-13 22:46:09

We did it in six weeks, but you need a shit hot Conveyancer. Needless to say we have her lined up to go on when we sell this time.

bimbabirba Tue 25-Jun-13 23:28:08

Make sure you pick a quick mortgage lender.
RBS/Natwest are quicker than the speed of light. It took less than 10 days from mortgage application to mortgage offer landing on our doorstep (including valuation and survey). Get your payslips and bank statements ready and make sure you return all the paperwork very promptly. Keep chasing everyone very two to three days.

flow4 Wed 26-Jun-13 07:26:05

I hope so, cos I'm trying to do it in 3.5 weeks! Everyone seems willing to give it a go... grin

Quodlibet Wed 26-Jun-13 07:32:12

We did it on a repossession property, despite our solicitor being beyond rubbish and going off sick half way through. Mortgage was through really fast (Halifax). Agree you have to make yourself a pain in the backside for all concerned but it is totally doable.

purplewithred Wed 26-Jun-13 07:36:51

I have a friend who did it in 6 working days.

He's a solicitor.

poocatcherchampion Wed 26-Jun-13 07:44:11

we put our offer in on 10 June and hope to move next Friday which is 5 July. we were already in the system for a mortgage as previous property had fallen through so once we had the valuation done a week later the letter came straightaway that day.

searches have been quick all all solicitors at working on paperwork so it all seems to be lining up. exchange and completion might happen on the same day but we are OK with that.
I'll let you know if it happens...

CheeryCherry Wed 26-Jun-13 07:44:45

Yes we did it in 4 weeks, but had mortgage offer in place, we were buying an empty house, cash buyer buying ours. We kept everyone aware we wanted to be in quickly. So smooth, it was great. Good luck!

MumnGran Wed 26-Jun-13 07:52:52

Absolutely possible. I did it in four weeks, from offer to moving in, and my seller (bless her) was due to deliver her PFB just 2 weeks after the moving date so the pressure was really on!! However it suited us all, and both parties were working towards it .....literally turning correspondence round with no delay, usually on the same day as receipt.

There is a caveat .....I was not arranging a mortgage, and had a solicitor working to a goal of completion on the same day as exchange. This is not always possible if mortgage funds are being drawn down, plus you need a kickbutt solicitor ....and not all of them are!!

I would say it can be done, but only if everyone involved is goal orientated!!

valiumredhead Wed 26-Jun-13 07:59:45

You could ask if you could move in to new house if it's empty and rent and then buy asap. Friends of ours did this and completed within 5 weeks but at least they were in asap.

AllBoxedUp Wed 26-Jun-13 11:42:10

We've been in a chain since November so the solicitor is sympathetic. They have said they will do everything to make it happen. Just need to make sure everyone else is as motivated. Great to hear about people who have done it though. Feeling quite excited at the thought.

specialsubject Wed 26-Jun-13 12:59:49

possible if everybody does some work. Keep phoning and nagging - you are paying all these people.

also needs the property to be REALLY chain free; previous occupant either dead or actually willing to move into a rental.

StrangerintheNight Wed 26-Jun-13 13:24:26

Yes, we did it in 4 weeks, on a chain free property. But you'll need to keep the momentum going, so make sure you chase people up if things go quiet.

We used a solicitor on our doorstep so we could easily pop in to collect/sign documents and check up on progress. I figured face-to-face was better than telephone.

AllBoxedUp Wed 26-Jun-13 14:27:19

The chain is FTB couple 1 buying shared ownership property of couple 2 who are buying our house (couple 3) and we are buying house of couple 4 who have already bought a new property and moved. It's not the shortest but everyone has been waiting since January so it's hopefully just a case of exchanging contracts once our purchase is sorted out.

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