Average time between exchange and completion

[Abubu]

Hi,

I'm feeling a bit cheesed off. We have been in the process of moving (or trying to!) for the last couple of months and are in a chain of 4. A few weeks ago the plan was that we would complete yesterday but as of yet, due to various complications have not even exchanged.

We may exchange on Tuesday if we are lucky. We had the opportunity to complete by the end of the week but our solicitors are saying they cannot agree to do it that quickly, even though our sellers solicitors said they thought it was perfectly possible.

Now it looks like we may not be moving in until the end of June.

Whats the average time between exchange and completion?

Thanks.

Pah, if the soliciters wanted they could exchange and complete on same day, they have to do that for commercial property developers all the time, they just don't like to for 'amateur' buyers like you & me.

Alas, IME, there is nothing as an ordinary customer that you can do to hurry soliciters along; for them there is all the time in the world.

The only thing that would hold it up is the movement of money, ie dealing with your mortgage co or the others in the chain having to get the cash out of their mortgage co. They usually require a week though less is possible

I work in the industry and the average time is usually 8-10 weeks

lm - are you talkign about foirm offer to compeltion rtaher htan exchange top compeltion ?

Last time we had 10 days between. More than enough time to arrange removals, transfer of utilities etc. You can exchange and complete on the same day if the solicitors and banks are geared up to transfer the funds quickly enough. Perhaps the solicitor, or colleague, is on holiday next week and they already have other transactions in the pipeline? No reason to wait until end of June even so.

It is so not 8-10 weeks lemonmuffin. I don't think I've ever heard of anyone having more than 4 weeks in between.

Average is about a fortnight IMO.

LIZS - yes i am, misread the title

Time between exchange and completion can be whatever both parties want it to be, usually about a week on average, but can be longer if there are several parties in the chain as sols have to agree on a convenient date for them all

You might have a delayed completion on a new build esp. if you buy off plan, not the average though in England at least .

When bought this house we did both on same day. 1st timers bought ours and the person we bought from went into rented. Still v stressful though and didn't get keys until 3:30/4ish (was planned for 12,but problems with our buyers mortgage holder).
Aiming for about a week this time.