How long will it take now my mortgage has been accepted?

Question

My mortgage was accepted this morning how long should it be now until we can move in to the property?

We have found the Property the offer was excepted and the searches have been done

Answer 1

As soon as contracts are signed and exchanged in the UK, it is the exchange of contract, when the two solicitors get signed contracts from the sellor and buyer when the sale becomes legal. It is up to solicitors now to organise this, as the rep from the mortgage company must be at the exchange to hand over the money. But it shouldn't be that long.

Answer 2

I don't know what you mean by "accepted." The mortgage company agrees to give you a mortgage; you have to find a property and make an offer. If your offer is accepted, you should both execute a "purchase and sale agreement." Then you have the house inspected as needed, have a title search, and set a closing date and place, at which you will sign more documents than you ever thought possible. When the deed has been executed and given to you or your lawyer, the transfer is complete. But you have to record the deed at the registry of deeds for it to be valid against other people.

Usually, you can move into the property the following day or the following weekend. Remember to change the locks or the key cylinders as soon as you can.

Answer 3

There are many variables that can affect the closing date, and this question can't be answered with the information you have given. Have your realtor speak to the selling broker to get an idea; they should be able to get a ballpark answer quickly, but the actual closing date itself can often change by a few days depending upon the availability of the lawyers involved. 30 days would be the minimum, and generally closing dates are not more than 90 days after a bid has been accepted. My apartment closing was pushed back several times over a three month time due to rennovations that the seller was having finalized; if you are not having any work done on the property this will obviously not be an issue.

Answer 4

It depends on how fast your solicitors can get the process going, and the previous tenants can move out. It's worth writing to your solicitors and being up-front about when you need to move in by...you're paying these guys, get them working for you! It took me a few weeks...good luck!

Answer 5

Depends - are you in a chain, first time buyer does the vendor have somewhere to move.. average is 3 months.

Answer 6

Usually around 30 days, depending on the house if it's ready etc

Answer 7

that's part of the deal you make with the curant owners, you need to talk to your realtor

Answer 8

it will be a month or two