What is the absolute quickest a sale can be done?

Saints#33

Hi there,

We are sale agreed on a house, have AIP and have now provided all documentation to bank.

This to my knowledge is not a chain house and the vendor has requested a fast sale as they live abroad and the house was built to sell.

The bank manager claims he's just done one from meeting to keys in 42 days.

I want to know, what is the absolute quickest it can actually get done, assuming no issues arise? We're talking a non chain mortgage sale here, not cash etc.

We are presently couch surfing with a 6 year old so would love it done asap. Info appreciated.

3DataModem

Can be done in 4 weeks theoretically. All depends on solicitor and banks, and how much you stay on top of them.

Fraggle07

From sale agreed to keys we did it in 7 weeks. Seller really pushed and stayed on top of all parties involved.

_brendand_

Saints#33 wrote: »

Hi there,

We are sale agreed on a house, have AIP and have now provided all documentation to bank.

This to my knowledge is not a chain house and the vendor has requested a fast sale as they live abroad and the house was built to sell.

The bank manager claims he's just done one from meeting to keys in 42 days.

I want to know, what is the absolute quickest it can actually get done, assuming no issues arise? We're talking a non chain mortgage sale here, not cash etc.

We are presently couch surfing with a 6 year old so would love it done asap. Info appreciated.

In theory under a month is possible, depending on:

a.) contract being ready, this can take 3 or more weeks to create if no ground work has been done as deeds need to be requested from the bank

b.) mortgage offer being issued quickly, which depends on availability of a valuer and the banks workload

c.) sellers being willing to vacate or the property already being vacant

Ours took 11 weeks but there were several speedbumps along the way. It took 3 weeks to issue the contract, then a further two weeks to get the thing reviewed and the mortgage offer sent out. Then there was a whole thing about the closing date as they were buying another property so needed three more weeks for that. If the contracts had have been ready and they had not been buying somewhere else we could easily have been talking about early August instead of tomorrow.

catrionanic

Totally depends on banks and solicitors. We had AIP and just had to wait several weeks there for our loan offer letter from Ulster bank.

John_Rambo

3DataModem wrote: »

Can be done in 4 weeks theoretically. All depends on solicitor and banks, and how much you stay on top of them.

The solicitors will deal with whoever shouts loudest first, they are human. It's money in the bank for them. They'll blame the other solicitor when there are delays.

I deal with legal firms in advertising and they are unbelievable for dragging their heals. More than any other profession I deal with.

annoyedgal

7 weeks here on 1st home with similar circumstances. Could have been earlier but seller pushed out closing by ten days or so.
I wouldn't say it's the norm though, could you air b and b for awhile to take the stress off if there is a hold up? Sods law that something will cause a delay.

ted1

Think we did 4-5 weeks. The house we were buying had gone through probate and was empty

Our solicitor was a family member

Askthe EA

Ive done one in 2 weeks but contracts were already raised, deeds with solicitor, engineers report done (had fallen through on a fire safety issue which was rectified) so new buyer bought the report off old buyer. Cash purchaser. When solicitors put their minds to it, it can be really quick.

Samuel T. Cogley

Plan on it taking six months or more. It probably will if you need it to go quickly.