Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

How fast can you go from offer to completion?

29 replies

katymac · 04/07/2017 20:00

If it's not in a cabin & we are cash buyers?

My mum keeps muttering about 'insuring against searches makes it faster'

Any advise?

OP posts:
PippaFawcett · 04/07/2017 20:21

I can't imagine you can get done much quicker than six weeks. Although I have heard of four but that is rare. I think there are so many variables that it is hard to predict.

Original poster
katymac · 04/07/2017 20:24

I'm sure my dad bought one in a week - can't ask him & my mum only remembers what I said

OP posts:
Bellaposy · 04/07/2017 20:25

It totally depends on the property - freehold or leasehold, any issues with ownership/title, works that have been carried out etc. I would strongly advise you to get at least a local search. I've seen cash buyers have massive trouble when they come to resell because of things revealed on their buyer's search.

The average time is around 12 weeks but it should be faster being cash.

RaspberryMousse · 04/07/2017 20:26

Ours was ten weeks and that included sorting the mortgage. No chain. I would have thought a cash purchase would be a bit quicker though?

Original poster
katymac · 04/07/2017 20:27

Poop!! maybe it was easier "in olden days"

OP posts:
Blossomdeary · 04/07/2017 20:30

4 weeks for us: property was empty, we had cash. Buyer of our place also had cash. I could not believe how fast it was!

UnconsideredTrifles · 04/07/2017 20:30

We did it in two weeks from viewing to completion on our last house. Cash buyers, no chain. It was a repossession and the seller would only sell to us if we could compete within 2 weeks! It needed compete renovation anyway so we had a builder look it over rather than a surveyer, and I have a legal background so looked over all the paperwork/deeds etc and checked the local development plans and flood risk. It was a bit of a risk, but well worth it!

Original poster
katymac · 04/07/2017 20:40

It needs complete renovation, prob won't have a survey due to the age of the house - pretty much every thing needs replacing apart from windows & roof, windows should be guaranteed & roof should be pretty obvious once I am in the roofspace

Sadly someone has lost an elderly relative & it's been on the market a while, 2 offers both of whom their sale fell through & 2 people who would like to offer but haven't sold thier house...

If we are doing it DH & I would like to get stuck in (it turns out 2 months of holiday is plenty and we want to get going on our new lives Wink)

OP posts:
justgivemeamo · 04/07/2017 20:44

how does this work then? what usually holds it up? is it solicitors and mortgage companies?

PippaFawcett · 04/07/2017 20:44

Where is it Katy if you are happy to share? I was on a different thread of yours and you were looking in my county at one point! Smile

pilates · 04/07/2017 20:45

Depends how long the chain is and whether it is freehold or leasehold. More work involved in leasehold properties. I would say realistically 8 weeks. Oh and I would get a survey done.

UnconsideredTrifles · 04/07/2017 20:47

In a chain now, I'd say hold ups are usually caused by waiting for other people to sort their mortgages and surveyors, and not being willing to arrange either until everyone further down the chain is absolutely ready to go. (Glaring at you, Ms we can exchange almost immediately buyer who has done NOTHING for three months...)

Buckinghambae · 04/07/2017 20:52

We are buying a new build, mortgage offer was 3 weeks, searches have taken ages, solicitors have been a PITA - enquiries went back weeks ago, we are hoping to exchange this week or early next but it's been in excess of 9 weeks with no chain. Last house completed in 4

Most miffed that my beautiful new house will be sat empty and complete when it doesn't need to be but that's just me being a Princess Brat as DH points out

Original poster
katymac · 04/07/2017 20:53

Mortgages can be slow

Searches - some councils take a long time

Issues with previous extensions needing PP or BC sign off

Paperwork (like for the windows being lost)

Solicitors having lots of work on and only updating a case once a day or less

I think those sort of things (but I could be wrong)

Often sol who deal with buy to let or builders manage to do it much faster

My dad said currently with the caveats used surveys are basically a visual inspection - he has taught me the general cautions (damp/subsidence/shared accesses) & in this age of house -it kind of is what it is

OP posts:
Original poster
katymac · 04/07/2017 21:00

PM'd you Pippa

OP posts:
NotMeNoNo · 04/07/2017 21:41

We sold our house in 5 weeks. We are still recovering from the experience! No chain, we moved into rented. Buyers already had mortgage sorted and only one other in chain who were all ready to move. The survey didn't hold it up.

You have to basically ruthlessly chase estate agent, surveyor, bank , solicitor, vendor, local authority, every day and not give them a minutes peace. Smile . And make sure it's known from the outset you want it to go through quickly.

Original poster
katymac · 04/07/2017 21:48

We will be in a motor home - so I want in before the weather changes!!

& the work we want to do will take several weeks months

But it's moot really....we did NOT exchange today Angry but I am sure we will tomorrow

OP posts:
Fluffyears · 06/07/2017 20:02

We were done in 6 weeks. Bought new build and out buyer had sold his house so everyone was happy to move fast 💨

Redglitter · 06/07/2017 20:05

I went from offer accepted to getting my keys in 4 weeks.

beachcomber243 · 06/07/2017 20:21

Moved in 3 weeks to empty property which I bought for cash...and sold mine to a cash buyer. So it was a short cash buying chain.

Original poster
katymac · 07/07/2017 13:46

Thanks guys that makes me feel better!!

OP posts:
Onthehighseas · 07/07/2017 13:48

I've been involved in one which took 7 days. It was a lot of work and required lots of coordinating along the way.

Original poster
katymac · 07/07/2017 14:38

Wow - i think that is what my dad did in the 70s!!

Did anyone you have/not have a survey and what about searches?

OP posts:
BlueAutumnSkies · 07/07/2017 14:51

We are 6 weeks into the process, mortgage side already sorted out but still no completion date and not likely to have one for at least 2 more weeks due to a backlog of search requests at the council. It really does depend on the property, location, seller's speed at doing paperwork, their solicitors etc.

When we started the process our solicitor thought we could get it all done in 4 weeks as our mortgage providers had been super quick and that was already in place, sadly that has not been the case. Lots of minor but time consuming issues have become apparent from searches that has meant a lot more work, and this is from a house that looks absolutely immaculate and has been completely refurbished.

Hope you have a quick turnaround though, it can be far too stressful!

ShowMeWhatYouGot · 07/07/2017 14:54

We took 5 weeks (was over Christmas break so imagine it could have been quicker) x