Many people ask if they can get a 30-day house sale in Durham or if there’s any specialists in Durham that do a 30-day house sale. Houses can be bought as quick as you want. I know quite a few dealers who buy properties within a week, but be prepared to do that if you want to sell really, really quickly as you must b prepared to take a bit of a hit on the price.
Always the biggest flaw of property sales is obviously the solicitors and the searches.
The searches can take 30 days on their own, it depends which council are doing them, but there is a way around that. A lot of buyers use what they call is a search indemnity insurance, where they’re going through their conveyance and rather than pay for searches, they’ll pay for search indemnity insurance. That covers you if anything comes up afterwards in the conveyancing or the searches. It’s quite common for a lot of quick house sale companies to do this.
I’m not sure it’s always the best course of action but again if sellers need the money quickly and need to sell quickly that it can be done. And then obviously the contracts have to go out and all be signed and exchanged and completed.
Nowadays, the biggest hold-up I find is the compliance process
UK law requires that all property transactions have compliance completed on both the buyer and seller; sometime called Knowing Your Customer here your identify and address has to be proven.
If you’re selling an investment property, you’ve got to have proof that links you to the ownership of that property. And not only that you’ve got to have your identify certified by a solicitor or at the very least certified by the post office. Now that can take the best part of a week for anybody to do and solicitors will not start the conveyancing util this is completed.
And then once they send the contracts out, the ball starts rolling and the process starts. Although the buyer will also have to complete the same compliance steps. They have contracts and anti-money laundering forms that require signature.
Given the compliance steps it can be very difficult now for a house sale to be completed in 7 days but assuming search indemnity insurance is taken out by the buyer, a sale within 30 days can be completed.
If you want to have a chat with me any time about this call me at 0191 486 2386 and I can explain in a little more detail or ask any further questions you have.