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How much time does it take after signing contracts - purchasing second hand house

  • 20-11-2021 6:11am
    Registered Users Posts: 29 johnpackt

    How much time does it take once contracts are signed? We will be signing the contracts next week. Other then contracts we have sorted out everything (mortgage protection, insurance, have communicated with bank).


  • Registered Users Posts: 2,347 ✭✭✭ stampydmonkey

    We signed contracts and drew down 1 week later. There were some documents the bank wanted changed slightly (addresses etc) and it took a bit of time to sort. We got keys 1 week after drawdown. Took that for solicitors to do their bits to close it all.

    Have to say our broker was excellent over the week, harassing us and the bank for any requests/close out.

    Hope this helps

  • Registered Users Posts: 74 ✭✭ pleh

    It took 6 weeks for us, no idea what held it up, solicitors slow probably

  • Registered Users Posts: 29 johnpackt

    Thanks @stampydmonkey and @pleh. I will keep this in mind. I have sorted out all things from my side and waiting for Green Signal from solicitors. In our case even vendor wants to close as early as possible as they are leaving the country. Hopefully that might expedite the process.

  • Registered Users Posts: 1,353 ✭✭✭ Pandoras Twist

    It's how long is a piece of string tbh. Could be a week, could be 3 months.

    You should get a closing date when the vendors sign the contracts. Until then, then nothing is binding yet. Both parties could still pull out.

    If they are leaving the country and not trying to buy another house it could go very swiftly.

  • Registered Users Posts: 172 ✭✭ Littleredcar

    My sale took 10 days I was selling an empty property and buyer was first time . I signed on Thursday and then they requested cheque for the Monday it was the following Monday before closing

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  • Registered Users Posts: 11,295 ✭✭✭✭ Geuze

    I sold a house, and we signed contracts on a Friday.

    The deal closed the following Friday.

    The sol told me signing and closing could occur on the same day, if both parties wanted to do it, and had everything prepared for that.

  • Registered Users Posts: 29 johnpackt

    Yes they have written closing date as 1st Dec. But somehow my solicitors keep saying that once the contracts are sign it will take 3 weeks to close which does not make sense. As both of us (me and vendor) want to close as early as possible. Currently our solicitors has told that they will be sending the contracts via post(due to Covid restrictions). Once we have signed I am assuming it will be sent to vendor for their signature and then solicitors will request a drawdown.

    I will try contacting solicitors again just to get additional clarity.

  • Registered Users Posts: 5,368 ✭✭✭ JimmyVik

    I think Christmas is going to get in the way at this stage.