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How long for qualified acceptance in house buying?

(10 Posts)
RoganJosh Mon 20-Mar-17 11:27:30

Being new to Scotland we have no idea how long this part should take. We had our offer accepted on a house last Tuesday and are feeling a bit twitchy. I'm sure it can vary, but what's the normal range?

user1487194234 Mon 20-Mar-17 12:36:29

About a week to 10 days
Although there are wide variations
It seems generally to take longer now which I think reflects the position that the purchaser won't respond to QA until they have their loan papers (unless a cash buyer) and that normally takes a lot longer than the time it takes for a QA

RoganJosh Mon 20-Mar-17 16:53:01

Ah, that's really reassuring, thanks!

OOAOML Tue 21-Mar-17 13:09:06

When we sold last year we thought we had a cash buyer and then it turned out she was applying for a mortgage, and we had to wait several weeks before it was all sorted. I got the feeling that was unusual though.

RoganJosh Tue 21-Mar-17 14:48:51

We're all good to go, so it's not us holding it up. I hope... grin

justnowords Tue 21-Mar-17 19:51:49

from 5 to 10 days for the initial QA but that first QA doesnt mean that missives are concluded and several formal letters may ensue back and forth before everything is agr ees and missives concluded.

user1487194234 Tue 21-Mar-17 20:09:19

It can take time for the missives to be concluded The main reason is waiting for the mortgage papers coming through
However it is still very unusual in Scotland for the thing to fall apart once the QA has been issued

RoganJosh Tue 21-Mar-17 20:16:36

Yep, I think I am mostly getting the process, just wasn't sure how long the QA took. I knew the missives are the big contracty bit but had never heard of the QA.
I am learning fast!
Thanks everyone.

justnowords Wed 22-Mar-17 10:41:09

The QA is really just the first formal reply letter to the offer adjusting the terms of the offer. Its certainly a simpler process now that there is a Standard Scottish Offer that nearly all solicitors use. However the prospective buyers might have in their offer that it is subject to them getting a mortgage, and in the QA which the sellers solicitor sends, they might try to delete this condition (because until then missives cant conclude). Purchasers respond with a formal letter not agreeing to this. And then missives will be on hold until usually the mortgage loan papers are received by the purchasers sellers (Getting a mortgage promise in principle is not the same as the actual mortgage papers). Obviously the mortgage condition is just one reason why missives can be delayed, there are others (such as satisfactory updated Home Report/having right Planning/building conditions etc).

RoganJosh Wed 22-Mar-17 16:54:33

That's all interesting, thanks.
Our solicitor says she thinks we're all good to go unless there's a hold up with the deeds.
We're dying to get an architect round but want to wait until it's a bit more official!

Thanks everyone. I'm feeling a bit less at sea.

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