How Long Does it Take to Buy a Freehold Property?
The timing of each freehold property transaction will vary as other participants such as estate agents, mortgage brokers and lenders, have important roles to play. Estate agents may have an understanding of linked transactions and can assist in settling a realistic timetable.
Communication is key, so don’t solely rely on the estate agent or your Conveyancing Solicitor to do all the communicating for you. Other factors which can affect how long it takes are:
- The number of parties in the chain
- Whether you have a mortgage in place (if buying)
- Whether you are buying a new build property
Our Conveyancing Solicitors offer clear and practical advice on the legal aspects of buying a home, and can guide you through the often confusing procedures that need to be followed.
For free initial advice get in touch with our Conveyancing Solicitors.
How Long Does it Take to Buy a House?
When buying a house having your mortgage agreed in principle when searching for a property to buy will be beneficial to you when your offer is accepted. Instructing a Conveyancing Solicitor as soon as your offer is accepted will also reduce delays.
Decide early on which property surveys you are going to have carried out. When your offer is accepted find out how long the chain is and what completion timescale all parties would like to work to.
Be prepared that the longer a chain is, the longer the transaction could take. So it’s not uncommon for the process to last around 3 months. There will be a large amount of communication between all parties especially if there is a chain, so always be responsive.
Buying and selling a home can be a stressful experience, but being proactive, organised and communicative will certainly help you through the process.
How Long Does it Take to Sell a House?
When selling a house a straightforward freehold transaction could complete within 4-6 weeks from accepting an offer.
If, on instructing a Conveyancing Solicitor on a house sale, you haven’t yet secured a buyer, it would be prudent to have all your property forms completed and held on file so that once you accept an offer, the legal work can progress straight away and reduce delay.
If you have a related purchase, having your mortgage agreed in principle will also be beneficial.
Simpson Millar Solicitors are a national law firm with over 500 staff and offices in Billingham, Bristol, Cardiff, Catterick, Lancaster, Leeds, Liverpool, London and Manchester.