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

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  • 20-11-2021 7:11am
    #1
    johnpackt
    Registered Users Posts: 31 ✭


    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).

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    #2
    stampydmonkey
    Registered Users Posts: 2,359 ✭✭✭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



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    #3
    pleh
    Registered Users Posts: 88 ✭✭pleh


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



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    #4
    johnpackt
    Registered Users Posts: 31 ✭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.



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    #5
    Pandoras Twist
    Registered Users Posts: 1,362 ✭✭✭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.



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    #6
    Littleredcar
    Registered Users Posts: 184 ✭✭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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    #7
    Geuze
    Registered Users Posts: 13,103 ✭✭✭✭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.



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    #8
    johnpackt
    Registered Users Posts: 31 ✭johnpackt


    https://www.boards.ie/discussion/comment/118202859#Comment_118202859

    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.



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    #9
    JimmyVik
    Registered Users Posts: 5,368 ✭✭✭JimmyVik


    https://www.boards.ie/discussion/comment/118204493#Comment_118204493

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



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