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Timeline from sale agreed to sold?

  • 08-08-2020 8:52pm
    #1
    Registered Users Posts: 3,214 ✭✭✭


    Hi, recently gone sale agreed on my home. No chains involved, straight forward sale. Does amyone know the timeline..when do contracts get signed and when are keys handed over? Thanks!


Comments

  • Registered Users Posts: 3,817 ✭✭✭Darc19


    You'd hope 5-6 weeks

    But if the other side is pedantic or their solicitor not the most efficient, it can take 6 months

    The system is unbelievably stuck in the dark ages


  • Registered Users Posts: 18,357 ✭✭✭✭kippy


    cojomo2 wrote: »
    Hi, recently gone sale agreed on my home. No chains involved, straight forward sale. Does amyone know the timeline..when do contracts get signed and when are keys handed over? Thanks!

    If there really are no issues on either side - 6-8 weeks.
    If there are holidays, issues with insurance, survey, contracts, planning, mortgage or tardy solicitors etc can run into the same in months.


  • Registered Users Posts: 3,214 ✭✭✭cojomo2


    Thanks! At what stage in the process do contracts get signed..I would have thought at the end, just before keys are handed over..or does this happen sooner?


  • Registered Users Posts: 18,357 ✭✭✭✭kippy


    cojomo2 wrote: »
    Thanks! At what stage in the process do contracts get signed..I would have thought at the end, just before keys are handed over..or does this happen sooner?

    It depends but usually a few weeks out from closing but it's not something that both parties might do around or at the same time. One party could sign earlier but that doesn't mean things will close soon!


  • Registered Users Posts: 12,992 ✭✭✭✭Geuze


    cojomo2 wrote: »
    Thanks! At what stage in the process do contracts get signed..I would have thought at the end, just before keys are handed over..or does this happen sooner?

    I sold last year.

    Most of the time is between Sale Agreed and Signing.

    It was then a week between Signing and Closing.

    The sol told me that Signing and Closing can be done on the same day, assuming all paperwork in order.


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  • Registered Users Posts: 7,593 ✭✭✭theteal


    cojomo2 wrote: »
    Thanks! At what stage in the process do contracts get signed..I would have thought at the end, just before keys are handed over..or does this happen sooner?

    Yes, signing of contracts is the confirmation of the deal being done. Closing date should be agreed at this stage which could be as soon as few days later.


  • Registered Users Posts: 3,058 ✭✭✭Sarn


    The above timelines are if everything is organised. If there is a lack of motivation with either of the solicitors or the seller it could be pushed out by several weeks more.


  • Registered Users Posts: 4,993 ✭✭✭c.p.w.g.w


    From sale agreed to keys it took 6 months & 3 weeks, has to get an extension...seller was being an arse


  • Registered Users Posts: 3,058 ✭✭✭Sarn


    Just to add, even an agreed closing date can shift. We ended up not getting in until about two weeks after the agreed closing date, due to the seller being difficult at the end and not providing outstanding documentation.


  • Registered Users Posts: 6,133 ✭✭✭Claw Hammer


    cojomo2 wrote: »
    Hi, recently gone sale agreed on my home. No chains involved, straight forward sale. Does amyone know the timeline..when do contracts get signed and when are keys handed over? Thanks!

    First of all your solicitor has to prepare a contract and complete the requisitions on title. This may involve your solicitor seeking your title deeds from a bank and asking you for various documents. Exemption from NPPR is a common one. The contract has to be sent to the other side who may try to vary the terms, raise queries and otherwise fart around before signing it. You then have to decide if you are happy to sign it and only then can you decide on a closing date. A lot will depend on when both parties are ready to move. For example your purchasers may have to close the sale of their own house or vacate rental accommodation. You may have to organise your new accommodation.
    There are 2 solicitors, a vendor and a purchaser. If any one of them are acting the maggot, it can slow things considerably.


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  • Registered Users Posts: 7,500 ✭✭✭BrokenArrows


    cojomo2 wrote: »
    Hi, recently gone sale agreed on my home. No chains involved, straight forward sale. Does amyone know the timeline..when do contracts get signed and when are keys handed over? Thanks!

    It can be as little as 6 weeks but can take forever if those involved are slow.

    If you want it done asap you need to keep on top of every outstanding task and personally chase your solicitor, the estate agent and even the buyers if you have their details.

    You lose time whenever someone is slow to answer a question.

    My first purchase took 8 weeks and was chain free.

    My current purchase is due to complete on Wednesday. If it does then it will have been 10 weeks and the sellers had an onward purchase to make.


  • Registered Users Posts: 225 ✭✭OhThePenguin


    We went Sale Agreed on 30/06 and hopefully closing this Thursday so about 6-8 weeks when no chain involved sounds right. Both us and the sellers are motivated to get it done quickly.
    Could have been quicker but we had a delay with getting the valuation submitted and therefore receiving the loan offer.


  • Registered Users Posts: 138 ✭✭whatever99


    I went sale agreed on a place 2 weeks ago, I'm the purchaser. I'm the sort of person who gets things done ASAP, e.g. providing documentation etc., so there'll be no delays caused by me personally if I can help it.

    Anyone here who was the seller and dragged their heels once they went sale agreed? If so, what were the reasons? I'm just curious.

    The place I'm buying was previously rented, and no one living in it now, so I presume it's ready to go and no chain there. No chain on my side either, so hopefully everything will move along. I'm on tenterhooks about it in case it falls through for some reason!


  • Registered Users Posts: 219 ✭✭Queasy Tadpole


    6 months... holy jaysus! I'm selling at the moment and want it done ASAP. I've a new house to buy, I'd be looking for a very quick sale and quick purchase. The wife would have my head at 6 months.


  • Registered Users Posts: 1,149 ✭✭✭beanyb


    whatever99 wrote: »
    I went sale agreed on a place 2 weeks ago, I'm the purchaser. I'm the sort of person who gets things done ASAP, e.g. providing documentation etc., so there'll be no delays caused by me personally if I can help it.

    Anyone here who was the seller and dragged their heels once they went sale agreed? If so, what were the reasons? I'm just curious.

    The place I'm buying was previously rented, and no one living in it now, so I presume it's ready to go and no chain there. No chain on my side either, so hopefully everything will move along. I'm on tenterhooks about it in case it falls through for some reason!

    I'm 5 months sale agreed in a similar situation and unfortunately no end in sight at the moment! I'm a FTB and it was a rental property so no chain. But unfortunately all sorts of things can cause hold ups. For me it has been a title issue (plus 2 months of lockdown where nothing happened at all).

    Hopefully it will be quick for you but unfortunately it's pretty much all out of your control!


  • Registered Users Posts: 138 ✭✭whatever99


    beanyb wrote: »
    I'm 5 months sale agreed in a similar situation and unfortunately no end in sight at the moment! I'm a FTB and it was a rental property so no chain. But unfortunately all sorts of things can cause hold ups. For me it has been a title issue (plus 2 months of lockdown where nothing happened at all).

    Hopefully it will be quick for you but unfortunately it's pretty much all out of your control!

    Wow, 5 months!! Hopefully with lockdown (sorta) over, there won't be any delays.
    Do you mind me asking what the issues with the title are? The house I'm buying is just a regular house in a housing estate.
    Jeez, you'd think someone who's selling a property would have the stuff ready to go, why would you delay if you want/need the money?!


  • Registered Users Posts: 1,149 ✭✭✭beanyb


    whatever99 wrote: »
    Wow, 5 months!! Hopefully with lockdown (sorta) over, there won't be any delays.
    Do you mind me asking what the issues with the title are? The house I'm buying is just a regular house in a housing estate.
    Jeez, you'd think someone who's selling a property would have the stuff ready to go, why would you delay if you want/need the money?!

    It's leasehold rather than freehold - which would be fine except the length of the lease is too short to get a mortgage on so it has to be converted which can take ages! 100% something the seller should have sorted before it went on the market.


  • Registered Users Posts: 138 ✭✭whatever99


    That's very annoying! I hope things start to move for you soon.


  • Registered Users Posts: 2,577 ✭✭✭circular flexing


    I sold a house last year, no chain. Went Sale agreed end of June and closed end of September. Biggest holdup was the bank releasing the funds to the buyers and I can't imagine this has gotten any better.


  • Registered Users Posts: 53 ✭✭ms vieria


    What are peoples recent experiences in the Sale Agreed to Sold timeline?


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  • Registered Users Posts: 18,357 ✭✭✭✭kippy


    ms vieria wrote: »
    What are peoples recent experiences in the Sale Agreed to Sold timeline?

    6 weeks to 12 months.


  • Registered Users Posts: 53 ✭✭ms vieria


    kippy wrote: »
    6 weeks to 12 months.

    haha - unfortunately seems the way


  • Registered Users Posts: 18,357 ✭✭✭✭kippy


    ms vieria wrote: »
    haha - unfortunately seems the way

    Usually 8-12 weeks is the average/norm I would say.


  • Registered Users Posts: 591 ✭✭✭dubstepper


    I sold a house a few years ago, then rented, then bought again. So two sale events in the last few years being on either side. Both took around 3 months.

    When I was selling their solicitor was really picky so there was a lot of back and forth. There was a stand off on one point which nearly collapsed the deal. On the purchase I think the seller delayed the sale about a month to suit a timeline they had.

    So I would think about 10-12 weeks


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