How long will it all take?
This depends on a number of factors that can vary considerably from case to case. A standard transaction, with no complications, will normally take about six to ten weeks. You should expect 6-8 weeks to get to exchange of contracts, at which point the transaction is legally binding and then another 2-4 weeks between exchange of contracts and completion. Although it is common practise in many solicitors these days to both exchange and complete on the same day - try to avoid this at all possible!
Delays can arise for a number of reasons including;
- Length of chain
- Problem obtaining a mortgage
- Problem with survey results
- New house not ready
Generally speaking the longer the chain of buyers and sellers the more dependencies there are and the more likely that there will be a delay at some point.
Neither your estate agent or solicitor can offer any guarantees on time scales and you should be cautious about anybody that does.
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