How long for a property to change to sale agreed?

Bungusbeefcake

Hi all,

Just wondering what your experience with this is. How long would it normally be for the property to go from "For Sale" to "Sale Agreed" after handing over the deposit to the agent??

Also any idea how long is normal for solicitors to draw up contracts and send them to the buyer solicitor?

Thanks

kippy

Bungusbeefcake wrote: »

Hi all,

Just wondering what your experience with this is. How long would it normally be for the property to go from "For Sale" to "Sale Agreed" after handing over the deposit to the agent??

Also any idea how long is normal for solicitors to draw up contracts and send them to the buyer solicitor?

Thanks

Sale Agreed should happen fairly fast, within a working day or two. If you've not seen the status change within 2-3 days, I'd be onto the auctioneer asking that it be changed.
The contracts can take anything from a few weeks to months, depending on a number of variables.

Moonjet

Depends what you mean by sale agreed - updating the daft ad? The sign in garden?
Once the seller accepts offer and booking deposit (this is different from the contract deposit in that it's fully refundable at any point before contracts signed, and is usually around €5k-€10k) is handed over to EA then technically the property is sale agreed.

Bungusbeefcake

Thanks for the replies. The booking deposit is down a week or so. The ad is still up on daft and their website, is this normal?? I'm just worried about someone coming in and trying to start the bids again.

So to answer your question, the sign in the garden I expect could be a week or so but I would expect the daft add should have been quicker, is that right??

L1011

Daft ad should definitely be changed by now; however some agents like to leave more properties "active" and appearing in standard searches to drive more business to other properties so you may need to push the issue if you want it changed over.

shelly24

That happened when we bought a couple of months ago, it took ages for the bouse to be marked as sale agreed on daft/ my home.
Lots of people told us that it was to get phone calls to the estate agent and they’d then tell them about other houses they have on the market?
Like you I was worried until it went sale agreed but really it’s only once the contracts are signed that you can relax.
We were sale agreed on a house in September and the lady selling just changed her mind and decided not to sell :-(

q85dw7osi4lebg

Just ring the agent and ask for the ad to be changed, won't bother them in the slightest.

Doop

Or if you are really cornered ring the agent pretending to be a genuine inquiry looking to view it... I guarantee they say sorry its sale agreed.

dudara

Bungusbeefcake wrote: »

Thanks for the replies. The booking deposit is down a week or so. The ad is still up on daft and their website, is this normal?? I'm just worried about someone coming in and trying to start the bids again.

So to answer your question, the sign in the garden I expect could be a week or so but I would expect the daft add should have been quicker, is that right??

In our case, both the DAFT ad and the sign were updated within 1 day. If it had taken any longer, I would have been on the phone to the agent.

maxsmum

Some prefer for the survey to be done and dusted before marking it Sale Agreed, as any disputes or withdrawals after a survey raises issued can make it harder to put back on market if the sale falls through