How long until you get the keys?

Lyn29 · 2021-11-11T17:22:09+00:00

Just wondering if anyone can help, my parents bought a house all cash Tuesday last week but have asked to stay with us until they get the keys. Obviously I said yes but they have just informed me that they could be with us until after Christmas, I love my parents but with a job and children, that is going to be a lot them staying that long. I was just wondering if anybody has experience of buying a house out right with no mortgage and how long did everything take? Thank you [smile]

rubyslippers · 11/11/2021 17:23

What do you mean bought? Have they made an offer which has been accepted or have they now exchanged and are waiting to complete?
If it’s only an offer which is accepted it could take weeks if not months - depends on the chain etc etc

rubyslippers · 11/11/2021 17:24

If they’ve exchanged then completion is a few days after usually

domesticslattern · 11/11/2021 17:27

This is a bit odd, do you mean they have had an offer accepted on a house? I wouldn't consider that they had "bought" the house until they had completed (which is when you get the keys).
Even with a cash purchase, offers don't always lead to completion. Are they doing a survey, searches etc.? Is there a chain?- the vendor might need time before they want to move. All these things will have an impact on how long they live with you for!

Original poster

Lyn29 · 11/11/2021 17:31

I sorry, I'm a newbie to all this so they sold there house abroad and got paid for it a couple of months ago and moved back to the uk. They made an offer a couple of weeks ago and it was accepted and then last week they transferred the money over and that it as much as I know. They then said they are waiting for the solicitors to do there bit now.

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Original poster

Lyn29 · 11/11/2021 17:31

There is also no chain as the people with the house inherited it so nobody is living in it

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PragmaticWench · 11/11/2021 17:41

Anywhere from 2-4 months could be within 'normal' time frame.

Moonflower12 · 11/11/2021 17:57

You say they've transferred the money? This doesn't happen until completion?

NellieBertram · 11/11/2021 17:58

If they have just transferred the money to their solicitors and are waiting for solicitors' enquiries, surveys etc then could be done in 6 weeks if it's all very straighforward. Could be months though.

rubyslippers · 11/11/2021 18:06

@Lyn29

I sorry, I'm a newbie to all this so they sold there house abroad and got paid for it a couple of months ago and moved back to the uk. They made an offer a couple of weeks ago and it was accepted and then last week they transferred the money over and that it as much as I know. They then said they are waiting for the solicitors to do there bit now.

If they’re waiting for the solicitors to do their bit it won’t be quick Minimum is 6 weeks but it can take months Remember everything will stop for Xmas for 2 weeks so you’re going to lose that time I would be prepping for them to be with you at least three months if everything goes smoothly Solicitors etc are massively busy at the mo because the housing market has been so mad

Original poster

Lyn29 · 11/11/2021 18:15

They told me they transferred that money Tuesday last week. I will ring them tomorrow and try and find out more. I love them but it is a really long time to have people stay with you. I will just say positive and I think my children will benefit with the time with there grandparents. Thanks everyone

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domesticslattern · 11/11/2021 18:32

You also need to ask if probate has been granted yet as that can add looong delays if the house belonged to someone who has died.

DaisyNGO · 11/11/2021 18:44

@Lyn29

They told me they transferred that money Tuesday last week. I will ring them tomorrow and try and find out more. I love them but it is a really long time to have people stay with you. I will just say positive and I think my children will benefit with the time with there grandparents. Thanks everyone

I don't know which time frame you're thinking of but it could be six months rather than weeks.

Lonecatwithkitten · 11/11/2021 19:32

As a cash buyer what took the time with us was the searches / they took about 6 weeks to come back. Then about three weeks of back on forwards ironing out queries.so we could have been done in about 10 weeks - we were done in about 14 weeks due to external factors.

Original poster

Lyn29 · 11/11/2021 19:43

Oh god, these answers are stressing me out but thank you anyway. They are arriving at the weekend so I'm enjoying a wine and a takeaway with my other half and trying to enjoy out time alone before they arrive. I will keep you updated........

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Original poster

Lyn29 · 11/11/2021 19:44

I do love them sooooo much by the way, I don't want people thinking I'm mean and I know we will have some lovely times together but it's just going to be the day to day things that will be stressful.

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DaisyNGO · 11/11/2021 19:49

@Lyn29

I do love them sooooo much by the way, I don't want people thinking I'm mean and I know we will have some lovely times together but it's just going to be the day to day things that will be stressful.

I don't think you are mean at all!

I am more concerned that they have not told you the correct information.

Sweetbabyrays · 11/11/2021 19:53

We are currently are in the same situation, cash buyer, empty house we are at week 12 with no end in sight, I’m ready to kill MIL!!!

SpeakingFranglais · 11/11/2021 19:54

So they’ve bought a house cash abroad? Presumably they have sold their house here and need somewhere to stay in the interim?

I would want a bit more information on the process, obviously you’re stuck with the, in the meantime as you can’t Chuck them out, but they do sound a tad vague.

womaninatightspot · 11/11/2021 19:55

@Moonflower12

You say they've transferred the money? This doesn't happen until completion?

I transferred the money over to my solicitor ahead of completion by a few weeks. If anything would have gone wrong they'd of given it back!

Samedaysame · 11/11/2021 20:00

If completion is going to take a few weeks, your parents Solicitor could ask the sellers Solicitor if your parents could rent the property until completion. Obviously there would have to be a tenancy agreement which would cost your parents but it would not be a great amount. Some of my clients have done this and it has solved the problem

GalaPie · 11/11/2021 20:49

The above is one solution, however, if the searches/conveyancing do throw up something that makes the purchase unproceedable, then it's a complicated situation.
Many Airbnb/lodge parks/holiday cottages would be willing to consider a longer term let, especially this time of year when bookings can be scarce. If you can get something near the proposed purchase, you can frame this as getting to know the area etc.

maofteens · 11/11/2021 22:12

I bought a house with cash this summer and it took five weeks. Their solicitor and the sellers solicitor need to be on top of it for it to happen this side of Christmas.
If you can't handle them why not try and find alternative accommodation?