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How long does it take to complete a sale?

  • 30-01-2020 5:15pm
    #1
    SwordofLight
    Registered Users, Registered Users 2 Posts: 350 ✭✭


    If buying a property where their side already has all legal paperwork ready to go, should my solicitor and bank be able to complete within a specific time period e.g. auction 4 weeks etc.
    What kind of delays would there potentially be? Cert of compliance? Valuation? Structural survey?


Comments

  • #2
    riclad
    Registered Users, Registered Users 2 Posts: 8,184 ✭✭✭riclad


    A sale usually takes 8 weeks to complete,
    its up to the buyer to do a structural survey, this is usually done on old house,s that might need rewiring or major repairs .
    most people do not do a survey unless the house is over 30 years old,
    or there is some reason to think there might be serious repairs needed after the house is bought.
    Your solicitor will check is there any debts on the house, property tax,
    the bank does a survey, they just send someone out to check,is the house worth the loan value,
    this take,s maybe 10 minutes,
    its not a structural survey.
    cert of compliance may be needed if there was an extension built .
    After the bank survey you,ll be given a date to sign the contact to buy the house.


  • #3
    Caranica
    Registered Users, Registered Users 2 Posts: 10,177 ✭✭✭✭Caranica


    riclad wrote: »
    .
    most people do not do a survey unless the house is over 30 years old,
    or there is some reason to think there might be serious repairs needed after the house is bought.

    Rubbish! Unless it's a new build anyone handing over a six figure sum would be mindless not to have a survey done. Can be a very expensive step to skip.


  • #4
    c.p.w.g.w
    Registered Users, Registered Users 2 Posts: 4,998 ✭✭✭c.p.w.g.w


    riclad wrote: »
    most people do not do a survey unless the house is over 30 years old,
    or there is some reason to think there might be serious repairs needed after the house is bought.

    I think you are mistaken, I think you mean most banks don't require a survey for houses under 30 years old...I know AIB & EBS didn't require one unless the house was older than 30 years


  • #5
    Woshy
    Registered Users, Registered Users 2 Posts: 1,429 ✭✭✭Woshy


    It's possible to do it in a shorter time frame. We sold our house recently and went sale agreed to sold in 5 weeks. The buyers were extremely proactive as they had to be out of their rental property and we had everything ready to go from our side - plus we both had solicitors you were really on to it.

    They did do a survey and they had somebody lined up to do that and ready to go as soon as we agreed to their offer. I think the survey happened within 2 days.

    We were lucky that there were no issues on either side but just a heads up that it can be done quite quickly! We're trying to buy at the moment and I can only hope it's not much longer than that!


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