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Original poster

Buying and selling - already gone crackers

31 replies

Fritilleries · 28/10/2022 20:14

How long is it taking? I've found a property, offered and all documentation into EA and solicitor instructed. How long will it be before I exhaust Pinterest through stress induced swiping? Cash buyer but selling ours as well. Photos being done this week. Just a shout into the void as everyone irl is already fed up of talking property and it's only been 3 days.....

OP posts:
HiveBee · 28/10/2022 20:24

I mean generally three months every single property I’ve ever purchased from being a first time buyer to being a no chain buyer has taken no less than 12 weeks

pilates · 28/10/2022 20:31

10/12 weeks is the average for a straightforward transaction

Teebles007 · 28/10/2022 20:31

Sharing your pain. 3 months on, selling to ftb. All conveyancing on line and absolutely no progress. Enquiries on progress met with downright rudeness.Already working in new area and sofa surfing as too far to commute. Losing will to live

OoooSweetChildOMine · 28/10/2022 20:34

3-6 months

Original poster
Fritilleries · 28/10/2022 20:44

Christ alive. We're cash buyers so really only searches to do. Fingers crossed.

OP posts:
Cavviesarethebest · 28/10/2022 20:46

Sorry do you mean you’re only just about to put yours on the market?

10-12 weeks is a reasonable average but that’s once the sale has been agreed.

Original poster
Fritilleries · 28/10/2022 20:49

Cavviesarethebest · 28/10/2022 20:46

Sorry do you mean you’re only just about to put yours on the market?

10-12 weeks is a reasonable average but that’s once the sale has been agreed.

Yes. Imminently. I'm not a very patient person unfortunately.

OP posts:
Cavviesarethebest · 28/10/2022 20:51

do you need to sell to be a cash buyer?

Macaroni1924 · 28/10/2022 20:55

I’m on the market 2 weeks and viewings are so slow. Apparently viewings down by 50% just now. I’m so frustrated and trying to stay calm. We have our new house lined up, mortgage approved just need to sell this 😡 everyone else is calm DH, Estate Agent, family. Unfortunately not in my nature to be calm I have zero patience. Depends on what you’re selling and the area, some areas haven’t been as badly affected. Good luck!

donttellmehesalive · 28/10/2022 20:58

Mine took eight months but it was a long chain and collapsed three times.

Original poster
Fritilleries · 28/10/2022 21:25

Cavviesarethebest · 28/10/2022 20:51

do you need to sell to be a cash buyer?

No, but we are. Don't want a mortgage. Appreciate very privileged.

OP posts:
Adj · 28/10/2022 21:26

I had my offer accepted in June, and im
still waiting to move in 😩 i’m a first time buyer and I already don’t know how I will cope when it comes to buying again

Cavviesarethebest · 28/10/2022 21:27

Sorry I meant do you need to sell your current house so thst you have enough cash to be mortgage free? If so that’s what could hold it up - otherwise a cash purchase should be quicker than a mortgage purchase.

mynameiscalypso · 28/10/2022 21:29

We are in a position to exchange just over a month after our offer was accepted and that's with a mortgage. As it is, we can't exchange because we're waiting for tenants to leave but the legal process and searches etc have been super quick.

TimeFlysWhenYoureHavingRum · 28/10/2022 21:52

We just bought our first property. No chain. Was previously rented but tenants gave notice as soon as we offered and left quickly with no dramas. It still took 5 months to complete!

bilbodog · 28/10/2022 21:55

You are not a cash buyer if you need to sell a property in order to buy - you just dont need a mortgage. A cash buyer is someone who has nothing to sell and has the cash sitting in the bank.

maxi2100 · 28/10/2022 22:56

It's crazy in UK. Property purchase is a bloated mess and means for everyone to put their hands in your pocket. A relative in Poland sold their flat (not auction), it took two weeks from start to finish.

RNLD1981 · 28/10/2022 23:03

We've just taken 5.5 months from viewing to exchange. It's a chain of three and seemed very straight forward. It's been the worst experience of my life.

rrrrrreatt · 29/10/2022 01:22

It’s been nearly 7 months now and we still haven’t exchanged. It was meant to be a quick sale - we’re chain free in a rental and there’s only 3 parties & 2 properties in the chain in total. We’re viewing other properties now in case we find somewhere that’s less of a nightmare.

Thesehills · 29/10/2022 07:07

Straight forward sale here.

Accepted an offer in March, completed August.

Sold to cash buyer, we moved out to rented awaiting new build. No real hiccups along the way, it's just timely.

Myfairgrant · 29/10/2022 07:16

bilbodog · 28/10/2022 21:55

You are not a cash buyer if you need to sell a property in order to buy - you just dont need a mortgage. A cash buyer is someone who has nothing to sell and has the cash sitting in the bank.

It's so frustrating when buyers say they're cash buyers but in reality, aren't!

To me, cash buyer means cash in the bank with nothing to sell, so no chain at all.

user1487194234 · 29/10/2022 07:26

If you were a genuine cash buyer the timescale would be a lot shorter
A good solicitor will heo
Get a recommendation

FlounderingFruitcake · 29/10/2022 07:27

You are not a cash buyer if you have to sell to fund your onward purchase. Cash buyer means cash in the bank! I’m unsure if that’s you or not. But if it helps, when we were cash buyers and the sellers were going into rented, so no chain at all, it still took 12 weeks. Most of that was the searches but also the survey and they weren’t the quickest to return forms.

MochaHoldTheMilkAndCoffee · 29/10/2022 08:19

Cash buyer means cash available to buy with no mortgage or sale of property/assets needed. If you have a property to sell you are only a cash buyer once your property is sold and the funds are in your account.

I'd much rather sell to someone obtaining a mortgage than someone who requires their property to be sold in order to fund the purchase. The difference is the latter involves a chain/more parties/more chance of something falling through.

When we were FTB we bought an empty doer upper from a Landlord selling up, it took 8 weeks from offer accepted to keys in hand.
Prior to that we tried to purchase a house which was part of a chain of just 2 properties, it took 5 months before the chain fell apart and we had to look for something else.

Asdf12345 · 29/10/2022 08:21

We went from offer to keys in six weeks, could have been five but for cash flow purposes it was useful to delay a week. That was with a mortgage but no chain.