I often get asked how quick can a cash sale take to complete? In short, a cash sale will go through a lot quicker than a mortgage buy because:
- the buyer doesn’t necessarily have to complete a survey
- the buyer doesn’t have to wait on mortgage approvals,
If the buyer doesn’t want searches, then this will also speed the process . And I’ve seen some of these sales complete quite easily within 14 days. Some can even complete in two or three days.
Although that can be a little bit more difficult in this day and age.
Because buyers and sellers alike have to go through the compliance process, the money-laundering process. And that does take time, unless they have all of this in place, which is rare. That can sometimes take upto a week when factoring in postal delivery times too.
If the buyer is doing searches, then you’re probably looking at about 28 days.
I hope that helps. If you’ve got any questions, my number’s 0191 486 2386.