How long do you think it should take to complete?(8 Posts)
I realise this is a 'how long is a piece of string' question but wondered if anyone has a rough idea?! We are in a 3 house chain - ours we're selling to FTB who are living with family, we're buying a property from sellers who are buying the property they want with cash and it has no chain. We've had a mortgage offered, our buyers should be this week (all going well with their survey which was done last week), we've completed the fixtures and fittings and legal form for our house but haven't received it for the property we're buying yet.
Do you think we're talking months or weeks? I'm just pondering as due a baby early dec....
If we wanted to start pushing for a date, who would we do that with solicitor or estate agents?
Thanks for any advice in advance
Often the longest turnaround is local searches. Your solicitor can advise how long these are typically taking. Now is the time to push for it if you want to complete in time for Christmas. Speak to both the EA and your solicitor and let them know the same.
It could be straightforward if there are no hidden nasties, i.e. you will complete before your due date. However, if there are some nasties it could be long and protracted.
Examples are...... if one of the properties has never been registered at Land Registry, if one of the properties is a leasehold title. If works have been done without building regulations, planning permission or completion certificates. If a seller is not the same person on the title deeds (e.g. probate sale), if one party is getting a mortgage with a lender not on the panel with the solicitors, one of the properties is being sold because a couple are divorcing and if there are certain restrictions on the title. Lastly, think about ID. You would be amazed how many people send in the wrong documents, don't get it certified properly, or there are discrepancies in names/spelling on passports, bank statements etc.
Your solicitor is still waiting for the contract package to be sent by the seller's solicitors (this contains a draft contract, plus fixtures and fittings list, property information form and title deeds so he won't be able to start his work on the purchase until he has this.
You can push for a date when all documents are in and enquiries answered, otherwise it is a futile exercise. You can discuss with the agent because they can speak to the others up and down the chain. By all means suggest a date to your solicitor but it won't be set in stone until all paperwork is studied and is ok.
It could be really quick. OOH we had an offer accepted on a house, chain free vendor, on 31st July and our completion date is 2nd November because it's been a total fucking ballache from start to finish.
I'm sorry, but I think realistically it will be months. IME the seller's surveys, mortgage discussions etc are VERY early in proceedings. Then there's months of toing and froing about various odd things, then exchange, then (usually) a month between exchange and completion.
Thanks for the quick replies. I either would like it to complete really quickly ie pre baby or after Xmas as it'll be a nightmare moving over that period with a new baby and other chn. I guess ill just leave it in their hopefully competent hands and hope for the best! If I'm not bothered about a deadline, should I be keeping in touch regardless or just leave things to tick among? We were first time buyers last time and it all just happened within 8 weeks with no pushing from us so I've no idea.
do not leave it in anyone's hands. Keep chasing. Ask your solicitor how long things should take and expect to be kept informed.
one incompetent solicitor or 'the little people will wait' person in the chain can bring it all to a standstill. Also looking at days of the week this December, I wouldn't expect anything to happen after Dec 19.
still two months away though!
Definitely keep chasing or your file will be forever pushed into the 'I'll deal with it tomorrow' pile.
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