Buying a house time-line

A_Sober_Paddy

So have the loan approved and its been sent off to the solicitor...

So my solicitor is waiting to receive the Contracts and copy title, what kind of time frame is acceptable for these to be received by my solicitor?

Rew

For a normal sale probably 2-3 weeks, vendor will have a long list of paperwork to organise so depends how organised they are and how good their solicitor is and keeping them informed and moving. If its a bank sale you should settle in for the long haul. Either way it will likely be stressful at times and slower then you expect.

A_Sober_Paddy

Rew wrote: »

For a normal sale probably 2-3 weeks, vendor will have a long list of paperwork to organise so depends how organised they are and how good their solicitor is and keeping them informed and moving. If its a bank sale you should settle in for the long haul. Either way it will likely be stressful at times and slower then you expect.

Its an owner sale, but with the banks consent

sk8board

Hi paddy, I'm currently closing on an owner sale, with banks consent.
I went sale agreed and paid a deposit on Jun 17, and signed the contracts last Friday. I've bought a number of places over very recent years and it always took about 3-4 weeks for contracts to arrive at my solicitor and another 3-4 weeks to get to point that I could sign. Then expect the vendor to sign very soon after that and then draw down the mortgage.

2.5 - 3 months from deposit to keys, and it's been the same every time.

Don't stress, these things take time, and a good solicitor will take longer if needs be, to protect you.

A_Sober_Paddy

sk8board wrote: »

Hi paddy, I'm currently closing on an owner sale, with banks consent.
I went sale agreed and paid a deposit on Jun 17, and signed the contracts last Friday. I've bought a number of places over very recent years and it always took about 3-4 weeks for contracts to arrive at my solicitor and another 3-4 weeks to get to point that I could sign. Then expect the vendor to sign very soon after that and then draw down the mortgage.

2.5 - 3 months from deposit to keys, and it's been the same every time.

Don't stress, these things take time, and a good solicitor will take longer if needs be, to protect you.

ok cheers, holding deposit and sale agreed went down 8th August so not even a month gone

Rew

A_Sober_Paddy wrote: »

Its an owner sale, but with the banks consent

I would class that as a bank sale, if they have genuinely given consent already then your grand if not you could be waiting a while.

A_Sober_Paddy

Rew wrote: »

I would class that as a bank sale, if they have genuinely given consent already then your grand if not you could be waiting a while.

Was told my estate agent, that the bank needed it sold asap, thus getting an offered accepted at 12.5% below asking and 15% below what a very similar property across the road went for a few months back

Rew

A_Sober_Paddy wrote: »

Was told my estate agent, that the bank needed it sold asap, thus getting an offered accepted at 12.5% below asking and 15% below what a very similar property across the road went for a few months back

Been there, done that, was lied to. Not saying thats the case for you but keep on top of them. It wasn't till we were hassling them constantly that they finally confessed the bank hadn't consented yet... Hopefully all is above board for you.

sk8board

In my case the vendor accepted just under the original price that they paid for the house in late 2014, but then their bank stepped in and refused to sanction the sale for less than the original price, which delayed things a few weeks while they had a committee meeting to say 'no'