How long will my house sale or purchase take?
The time frame for an offer being accepted until you can move home will depend on a number of factors. The average process takes between 2-4 months, but it can be quicker or slower, depending on the parties in the chain.
The following can affect timescales both for you and for other parties in the chain:
- the length of the chain and the wishes of the various parties;
- the lender’s requirements and the speed with which a mortgage offer is issued;
- the speed with which searches are returned;
- the speed with which the other side’s solicitors provide documents and reply to us;
- whether any unusual additional documents are required (for example deeds of variation);
- whether the title to the property is leasehold or freehold; and
- whether the transaction is a sale or a purchase.
Stages of the process
The precise stages involved in the sale or purchase of a residential property vary according to the circumstances. However, the key stages include:
- taking your instructions and giving you initial advice
- checking finances are in place to fund a purchase
- receiving and advising on contract documents
- carrying out searches
- obtaining further planning documentation if required
- making any necessary enquiries of seller’s solicitor
- giving you advice on all documents and information received
- sending final contract to you for signature
- agreeing completion date (date from which you own the property)
- exchanging contracts and notifying you that this has happened
- arranging for all monies needed to be received from you
- completing purchase
- dealing with payment of Stamp Duty Land Tax
- dealing with application for registration at Land Registry
Every property has its own particular set of circumstances, and we can discuss this with you and explain any circumstances which might affect the speed of completion.