To hope that a house sale might go through faster than 8-12 weeks?

[RaaRaaTheAnnoyingLittleLion]

We are selling our flat and our previous buyers dropped out the day before exchange while we were packing our things (that was a great day!), by which point we had already committed to moving to a rented house. For lots of reasons it made sense to stick to moving to the rental, but it means we're now paying rent while also paying the mortgage so very very keen to complete ASAP.

We have a new buyer who says she's also keen to move quickly - what's the quickest I could reasonably expect to complete, if it's straightforward-ish and I make a massive pain of myself in nagging the lawyers every other day? Buyer doesn't have anything to sell, is mortgage approved in principle, got about a 25% deposit, seems keen...(I mean I thought the last ones were keen, but grrrr)

Estate agent is just saying it's standard to take 12 weeks, but just wondering if anyone's done it quicker? Go on, give me hope...

Congratulations to you too, Rob20!

If the buyer that dropped out is willing to pass over/sell the searches to your new buyer and you've got all the information from the freeholder (I'm assuming as you said it's a flat it's a leasehold property) it could be done in four weeks. If new searches are required by your new buyer and the freehold pack hasn't been received you're looking at much longer.

Just to echo everyone else please do not use a Conveyancing factory. I’m a Commercial Property Solicitor and they’re awful. They take weeks to respond to anything and you can never get through to speak to someone to chase.

It can take longer with a flat. With mortgage companies there’s usually more due diligence with the a leasehold property. Also if there’s a management company and restrictions on title it can take a while to get a response.

I would find a decent solicitor and explain the urgency and the reason why. Also there’s things you can do to speed the process along. Make the buyer also use a decent solicitor (or the same one, you can do it with Conveyancing, it’s one of the rare exceptions), make sure you provide you ID and money on account straight away (it happens a lot, they want it done swiftly and then nothing happens for 3 weeks as you’re waiting for ID and money) so they can open the file right away and encourage the buyer to do the same.

I would also time your phone calls. It’s no good ringing for an update every 2 days or pushing every 2 days if they’ve told you your searches aren’t back for 2 weeks (or the buyers) you’ll just annoy them and your file
Will go to bottom of pile.) same for last Friday of the month!!

If you were that close to exchange the leasehold info pack should be in date ditto buyer should be able to buy previous searches. Also any 'issues' should have been dealt with mortgage valuation to be done but this doesn't usually take long.

Time to exchange varies depending on the circumstances anything from a few days to months

@lastqueenofscotland
You may have missed where I said that we sold in Scotland and bought in Wales. My post was about buying not selling. As the op asked.

It took us 4 months with no chain. our solicitor (big firm) was great, the seller‘s was awful (small independent solicitor)

Don’t be ringing and email your Solicitor every day or 2 OP, as another person said you will just slow them down by keep interrupting them and end up at the bottom of the pile because you are a pain. If they have done news they will be in touch.

The new buyers Solicitor will still need to review the full contract pack and raise their own enquires, which may need referring back to the management company - that’s where flats get delayed , waiting for management companies to reply/ approve things.

6 weeks on a flat where searches and managenebt equiries have mostly been dealt with (as long as it’s not shared ownership etc) is doable.

When she bought her first house I told my dd (in an expensive and inconvenient short term rental) to expect 3 months, but in fact it was all wrapped up in 6 weeks. TBH I was amazed. But she had used the EA’s recommended solicitor (knowing of no other) and their in-house mortgage broker, which I wouldn’t previously have thought the best idea, but I’m sure it helped to get things moving.

It took us 6 weeks to buy a leasehold flat (these normally take longer than freehold). But both parties had local solicitors who were chosen for speed. It can be done but everyone needs to want it to happen.

I was a FTB and motivated and did lots of chasing, as did vendors. Move was chain-free.

Still took June-September.

We had exactly this.

We got it done and dusted in 5 weeks.

It's dependant on the searches though, the searches in the county in which we were selling took 10 days. The searches in the county which we were buying took 5 weeks.

But we still managed to get the house in 5 weeks....

Also depends on the solicitor! Ours was excellent.

We were buying a vacant house, previous one had gone pear shaped and we were renting with 2 tiny children. Our solicitor got it done in 3 weeks.

My friend did our conveyancing. Did everything the moment it hit her desk. Took 5 weeks but this was a few years ago.

It all depends on whether there is any tricky legal stuff (which always seems to happen to me) and whether those in your chain are as keen as you.

Hi OP,

The main delay can be searches, enquires, contracts and mortgage applications.

Try and have a good relationship with your buyer as a lot will be dependent on her and the services she's using.

First things first is making sure you solicitors send contracts to the buyers solicitors ASAP once these have been reviewed they can then apply for searches which usually at present take about 4 weeks. Can your buying ask if they are able to take out an indemnity policy against the searches ? May not be possible but would speed things along.

From your previous sale you will have an idea what kind of enquiries may be raised make sure your solicitor has a copy of any maintenance packs, leasehold, certificates ect relating to your house.

Also where is your buyer in terms of applying for the mortgage? Does the advisor need more paper work from her ? Have they submitted application to lender ? When is survey due?

Hope this helps

X

I bought my first apartment in four weeks and that was from first sight of the place. I was a guest time buyer and the place was new and empty.

I hope it all goes well for you!

I worked for an estate agent who sold my house. We used the bosses friend for conveyancing and she was shit hot and on everything straight away.

The buyer's solicitor was ridiculously slow, dragging their feet the whole time and dragged out a no chain sale for 4 months.

I was a single parent paying mortgage on the house being sold and rent on the house that I had moved into as ex was being a dick, it was really stressful and expensive so I feel your pain.

As others have suggested, if you can get your new buyer to use the same solicitor and get agreement from your old buyer that they can buy the leasehold pack and searches, then you only need a survey for your buyer to get their mortgage offer to be ready to exchange.

Good luck