I get asked many times, “how quick can you complete a house sale?”
If you’ve got all your ducks stacked in a row, then you can complete pretty quickly. What it all boils down to is if you’ have a willing buyer who has same frame in mind as you.
It also depends on the solicitors you have.
If you’ve got good ones, that can act quickly then thats great, but you’ve also got to make sure that the buyer has a good solicitor too. And you really don’t have control over that, so you really have to have an honest chat with them and say that you want to complete quickly.
How quick can it be done?
It really depends. If it’s a residential buyer and it’s got to go through a mortgage, that’s going to obviously take a bit longer, they’ve got to go through the proper search procedure, valuations and more.
If it’s a cash buyer they may opt to take out a search indemnity insurance instead off waiting weals for searches to be completed and returned from local authority.
So indemnity insurance speeds things up the process enormously.
If it’s a property buying company, something like that, they’ll take search indemnity out.
If the buyer has gone down that route, the completion will take between 7-14 days. although this could potentially be reduced or extended in time length depending on the time it take to complete the legal compliance process.
What’s that I hear you ask? Thats where both the buyer and seller will have to provide certified ID and addresses to their legal representatives before the conveyancing process can even start.
A professional house buying company will have already completed their compliance process, so if you also complete the compliance checks in a seamless manner you can be rest assured for a completion that will take a couple of weeks rather than a couple of months.
If you’ve got any questions please feel free to give me a call; my number is 0191 486 2386.