2006-12-03 23:46:09 · 13 answers · asked by caz 1 in Business & Finance ➔ Renting & Real Estate
usually about 2 months
2006-12-03 23:48:51 · answer #1 · answered by sukis 4 · 0⤊ 0⤋
It depends on a number of things. Is there a chain? Do you have a mortgage in place? Has your solicitor started searches etc.
I would say on average, that most mortgage companies have a standard of around 10-14 working days to recieve a mortgage offer and then after that it is around 6 weeks for a completion date.
It does totally depend on the circumstances though, i have seen house purchases go through in 2 weeks but at the same time i have dealt with cases that can takes months!
2006-12-04 08:24:39 · answer #2 · answered by Sophia 2 · 0⤊ 0⤋
Depends as others have said:
If the house is good to go after the inspection is done-always get a independant home inspection-it can happen in 7-14 days if everyone has their sh@t together. Afterall, it's just an property exchange-although it is complex. But, if the funds are ready, any repairs are made, the family is already out or ready to move, and you both have a good team of pros you can buy and be in a house in a very short period of time. Usually, though the average is 4-6 weeks.
2006-12-04 08:22:04 · answer #3 · answered by ontopofoldsmokie 6 · 0⤊ 0⤋
It must depend on where you are (I need to keep reminding myself that this forum is all over the WORLD).
In San Antonio, Texas, USA, typical is 4 to 6 weeks. It can be as fast as 2 days, but that was exceptional.
Here, we try to figure out what the seller's time frame is and what the buyer's ability is and then the scheduled closing date becomes a part of the contract. If the seller wants to stay for another four months, they may value a lower dollar offer from a buyer who is willing to wait than a higher dollar offer from a buyer who needs the house sooner. Sellers of vacant houses may take a lower offer from a buyer who can close quickly.
It really depends on when the house can be ready (seller out, repairs done, etc.) and when can the buyer's financing be in place (cash, loan, sale of other house, etc).
Your Realtor should be able to help you to negotiate your best deal - that includes price, timing, terms, etc.
2006-12-04 11:44:30 · answer #4 · answered by teran_realtor 7 · 0⤊ 0⤋
All depends on the circumstances and how far along the chain goes.
I personally was in my first house I bought within 2 weeks of them accepting the offer. The sellers were moving into an empty property so we didn't have to wait for anyone else.
If the buyer/seller at the top of the chain is waiting for a house to be built...how long is a piece of string?! You should receive a moving date which everyone in the chain is supposed to stick to. Ask your property agent, if they don't have an answer, get on at them.
2006-12-04 07:49:15 · answer #5 · answered by Liggy Lee 4 · 0⤊ 0⤋
On average, you are looking 6-8 weeks. If there is a chain involved, then it could be longer (or shorter) depending on what stage the chain is at.
If all solicitors are willing, then it can be speeded up. I once knew someone who could get a deal done in three weeks. It also depends on whether there is a mortgage involved anywhere on the chain as the mortgage offer can take a while to come through.
2006-12-06 17:15:43 · answer #6 · answered by nemesis 5 · 0⤊ 0⤋
Well have you been approved for the loan amount you offered? If not log onto http://www.justgetaloan.net. If you have been approved than depending on the contract ie the sellers must first find a new home or any additional stipulations. With all else being in line it should not take more than 2 weeks with all documentation in. For any additional assistance feel free to contact me direct at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net
2006-12-04 15:14:18 · answer #7 · answered by Anonymous · 0⤊ 0⤋
In addition to the good answers you have already received, it can also depend on what the solicitor and what the surveyors find.
Remember however that offer and acceptance in property purchases are all "subject to contract" which means that until contracts are exchanged by the solicitors, either party has the right to pull out.
2006-12-04 07:57:43 · answer #8 · answered by halifaxed 5 · 0⤊ 0⤋
About four weeks if everything is straight forward and your solicitor gets on with it. The more people that are in the house chain can sometimes make it hang out for weeks, so I hope this isn`t the case with you. If you are buying a new house it can be even shorter.
2006-12-04 07:57:18 · answer #9 · answered by Social Science Lady 7 · 0⤊ 0⤋
It really depends on all sorts of things. Usually they say 8-12 weeks. Ive bought and sold quicker and Ive had one sale that took much longer and then fell through.
It depends on the rest of the chain and if there are any complex land ownership problems or structural problems etc
2006-12-04 07:55:40 · answer #10 · answered by Bellasmum 3 · 0⤊ 0⤋
It varies - depends on chain (how long etc) responses to searches from relevant bodies and the speed of solicitors on both sides.
Also is your mortgage in place?
It can be done in days - insurance covers any problems and costs rise. When I bought mine it took 9 weeks in total.
2006-12-04 10:45:04 · answer #11 · answered by Dee 3 · 0⤊ 0⤋