Cash buyer

[feelinghelplesstoday]

Can anyone advise on the absolute minimum time you could complete on a house if you are a cash buyer?

We did it in just over 2 weeks. But they were 3rd lot of buyers (first two sets pulled out) so they bought searches off previous buyers, which massively speeded things up.

I've done in about a month, there was no chain. Some of the unavoidable delay comes from the local searches and things you need to wait to hear back from, and there's not much you or your solicitor can do about that.

I've completed in 14 days as well , but in my case the properties were auction property with the searches already in hand .
However I've been a cash buyer on several occasion using ea and it doesn't seem to be much faster than 10 - 12 weeks however much I pushed even with the purchase property non chain and empty

Excuse my ignorance but as a cash buyer how essential Re the searches? I thought (possibly wrongly) that they were of more importance to mortgage providers

I would say absolutely essential
You could find you are going to get a motorway next door or be in a flood zone , just two random examples but I would never buy without doing searches
Often don't bother with a survey as I'm probably doing extensive work

Thanks @smugmug 👍

Exciting times , hope it goes to plan !

Thanks @smugmug I'm going to get the ball rolling on Monday to try to get in before Christmas 🤞

My dad did it in a week. Offer accepted on Monday, exchange and completion on Friday. But he did forgoe all of the searches and surveys. He knew the area well, had done searches on other properties that had fallen through and he'd been gazumped twice so he didn't want to hang around.

Thanks @RNBrie that's useful to know. I'm in similar position with area etc

Don't houses bought at auction get completed within a week, maybe faster?

@lljkk this one isn't an auction purchase. It's been in the market a while. It's probably a little over priced. Similar properties in same price bracket are generally already renovated.
I'm happy to pay asking price and actually like the older traditional style of this one

Is it actually standing empty, no onward chain?

I would caution you about being too optimistic though - I'm a cash buyer and it has just taken me 19 weeks to get to exchange (my longest ever record by a long way) due to issues with searches etc. Sometimes delays are unavoidable, even as a cash buyer!

Have the searches even if your eager to move fast, I think solicitors would strongly advise this and it’s not worth forgoing. We did it in 6 weeks and the start of a chain as cash buyer. Could of done slightly sooner but the buyers didn’t tell us about a holiday!! Good luck.

@lljkk I believe it is empty-current owners relocated for work.

@Advice201900 yes we will proceed with searches

We lost out on a house to a cash buyer. They were picked because it would be quicker and the seller wanted it done and dusted quickly.

We found another house, sold ours and moved in to new house before the house we lost had completed.

We did it in 5 weeks and wernt cash buyers. It took them 8 weeks. I'm not sure what the delay was but it's not always quicker.

it took us 8 weeks from start to finish we did survey, solicitor did searches etc, but we did stipulate that was the time scale we wanted as my OH had to wait for his redundancy and pension draw down to come through if he had the cash when we looked at the house would probably have been a couple of weeks quicker

We've just completed and are cash buyers. No chain. It's took 6 weeks, could have been quicker but the other sides solicitors where slow at replying to our solicitor (three weeks to reply at one point!)

We had a full house survey ( 150 year old house) and all searches.

We're not cash buyers, but conveyancing nonsense has been from July until today, and still ongoing. Having cash wouldn't have made this any faster. In short, for the time you save there are still solicitors who'll take 5 weeks to answer the most basic of queries.

@TempestHayes yes we had completely avoidable delays buying current house with mortgage. I ended up doing a lot of the work myself and sending to lawyer

Ooh excited! Sellers have agreed in principle they are happy to complete in 4 weeks. Solicitor has good reputation for speedy working and knows how important it is to us.
Looking forward to Christmas in my new home fingers crossed!

Did it! We completed last Wednesday and the children and I moved in yesterday. Least stressful move ever. Our vendors were an absolute dream-house was professionally cleaned including carpets and spotless. They've also left me flowers and 2 bottles of champagne.
I could cry with happiness as this is my forever home. I'm hosting 14 on Christmas Day and I have not one bit of stress.
Happy Christmas you lovely MN's x

What lovely news!

Congratulations, OP, and wishing you all the best for Christmas and beyond!