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How long from offer accepted to completion?

8 replies

ItNeverRainsBut · 05/02/2010 17:27

I know this is a "how long is a piece of string" question, but would like to get an idea of the range for typical time spans. Have just had an offer accepted on a house I want to buy. At the same time, my 6-month lease ends in about 6 weeks so I need to sign up for new lease. Landlord is prepared to offer a 6-month lease with a break clause after 3 months, e.g. could give notice after 2 months and leave after 3 months. However 3 months plus the time remaining on this current lease brings it a bit over 4 months from now. I'm just wondering how likely it is that the purchase would have completed by then or alternatively that I'd end up paying a fair bit of extra rent?

OP posts:
Lubyloo · 05/02/2010 17:30

Our last house move took eight weeks exactly from offer to completion. Good luck with the move

Batteryhuman · 05/02/2010 17:31

I'm a solicitor and I'd say the average is 2 months but it can be much quicker if no chain and no mortgage companies involved and MUCH longer if the chain is long and complicated or the survey is bad or the bank difficult.

bibbitybobbityhat · 05/02/2010 17:33

Well, it should take less time than average because you are the start of the chain.

What are the people you are buying from doing? Have they found somewhere to move to? What about the people they are buying from? The length of the chain in its entirety will be the major factor.

Also the condition of the house (is it old and obviously in need of work and therefore a detailed survey for eg.)

Do you already have a firm mortgage offer?

I'd say average is 3 - 4 months.

Elibean · 05/02/2010 18:15

Ours took 3 weeks, but that was because a) the vendor was in an extraordinary hurry and b) the house was empty and c) we had the money sitting and waiting. And an on-the-ball solicitor.

NOrmally, its taken about 3-4 months.

DebiTheScot · 06/02/2010 23:08

Ours took 7 weeks and that was quicker than it should have been as we had a sale fall through just before exchange so the solicitors didn't have to do as much for the 2nd buyers. And we were in a very short chain.
From the 1st offer being made to completion was 4 months.

rebl · 06/02/2010 23:12

Our 1st house purchase, 6 weeks.

Our 2nd house purchase and associated sale 5 months. This was very complicated further up the chain which was totally out of our hands.

LLKH · 07/02/2010 20:56

Unfortunately, it took 6 months for DP and I from offer to completion and it seems to have taken that long for most people we know who have bought recently.

PiratePrincess · 07/02/2010 21:59

10 months as problems with probate.

We waited though and love our house so it was worth it

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