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How long are transactions taking to go through to completion?
7

KoalaRabbit · 26/10/2020 02:09

Just wondered how long transactions are taking to go through atm. How long for searches, survey etc, mortgage.

We are just selling and already live elsewhere so no delays from us. Buyer has a buyer for their house and that's the end of chain, they are 5 weeks in with mortgage valuation done. Just had deal agreed this weekend.

Thanks for any answers. When we've bought in past its been 2 months and our solicitor is amazing but would imagine its longer atm.

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Soulstirring · 26/10/2020 02:33

We’re on week 14... hopefully done by mid Nov. Not happy about it. Buyers desperate to live, keep trying to take over our phone lines etc but their solicitor STILL sending in enquiries. Our onward move suddenly I formed us about a probate situation two weeks ago that ‘should’ be concluded imminently. Frustrated. We had our mortgage and everything sorted within a month ...

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KoalaRabbit · 26/10/2020 02:54

Thanks Soul Hope it all completes for you soon, sounds like it will all go through it's just when.

This is bringing back traumatic memories of when I sold my flat - first transaction collapsed after 2 months and then next one took 5 months to go through. I'ld bought it in 2 months.

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Shadowboy · 26/10/2020 09:11

We are on week 11 with no dates set for completion or even exchange....
We and our buyers are still waiting for searches sent over a months ago....

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KoalasandRabbits · 26/10/2020 10:18

Thanks Shadow I saw on RICS site average is 16 weeks though hoping as others are 5 weeks in, ours will be 11. I can dream. Grin

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FangsForTheMemory · 26/10/2020 10:19

I was told 12 weeks and I am chasing my solicitor to keep to that. It will probably be 13 or 14 weeks.

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Gyptian · 26/10/2020 12:34

We’re on week 13 and the draft contracts were only issued last week as the vendor has instructed the solicitors from hell 😡 We’ll be lucky to beat the stamp duty deadline at the rate we’re going.

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Bells3032 · 26/10/2020 13:51

I'm on week 14 with my purchase (two houses in the chain) and week 18 with my sale (chain free).

Atm everything is taking forever

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