You’ve had an offer accepted on a property you want to buy so the only thing that matters now is getting to a completion date as quickly as possible, right? So how long will it take?
This is a question that we are asked frequently. If there is no chain involved, the time from initial instruction to completion is approximately 6-8 weeks. Many factors can impact on this timescale however. The quickest transactions proceed where the buyer is able to purchase without the assistance of a mortgage and searches are not required but given the economic backdrop and the average house price, this scenario doesn’t occur very often.
The process usually follows the steps below:-
1. An offer is made which is accepted by the seller and both buyer and seller instruct a conveyancer to deal with the legalities.
2. A survey is arranged on the property and an application for a mortgage is made (if required).