House in chain resold to cash buyer how long?

[Leigh8721]

We was in a chain of 4 my purchase was the last one in chain but last week this collapsed. Since then my buyer has resold to a cash buyer willing to also try and buy local searches from their previous buyer. We are already to exchange so just the case of waiting on the cash buyer does anyone know how quick this could go through?

I think it depends on how much of a "cash buyer" they actually are- if they literally have the money in the bank and don't need any mortgage or additional input then it could be speedy if they can just use all the original searches and fast track their forms to their solicitor? Fingers crossed for you that they are!

How are you getting on with your exchanges now?

We bought our house in 7 weeks (offer to completion) and that was including all the searches. And we weren’t cash buyers. So I reckon if they can buy the searches it could all be done in a couple of weeks if everyone is motivated.

Thanks @Gunpowder I hope so that would be great news when was it you brought that's quick?

We had similar - they new buyers bought searches and surveyors report - it took about 3 additional weeks to exchange and complete.

Cash buyers can proceed very quickly if they have no change - I know friends who bought as soon as the searches / valuation came through. The real limitor is how soon the vendor can move out.

It was was in 2019 Leigh. Don’t know if things are taking longer now because everyone is busy with the stamp duty deadline. I think it helps if the solicitors are all efficient and the agent is onside and willing to chivvy the other side if necessary.