average time-frame for house sale completion

T

thumper

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Hi folks!

Over two months ago my estate agent accepted a deposit for a new house which i was selling. The buyer i was told was chain free and had finance in place and was anxious to move quickly. However two months on the buyer has not signed any contracts to proceed with the sale and Im wondering if this is excessively long? Considering it is a straightforward sale of a new unlived in house should it take this long just to get contracts signed? What would be the average time frame? Should I return his deposit for waisting my time?

Many thanks in anticipation
 
I agreed to buy a similar new unlived in house over 4.5 months ago and our contracts only went over to the vendors solicitor on friday last.
we were initially waiting almost 2 months for the contracts to arrive and when they did , lots of the most basic documentation was missing of wrong to such a degree that the bank couldnt sanction a loan against it and thalf the site appeared to belong to someone else.
Neither the vendors nor their solicitor made any effort to answer any of our very basic queries.
i actually had to go over their heads and approach their architect directly to get our issues clarified and get documents that should have been prepared even before the house went on the market and when we still had not received the corrected documents 6 weeks later and my own solicitors calls were not being returned, we were so pissed off with the whole saga that i personally wrote a snotty letter directly to their solicitor threatening to pull out if he didnt get his act together. We wanted and were in a position to close the deal months ago and all the delays have been caused by the vendors who are obviously loosing money for each days delay yet still couldnt have been bothered to help the situation.
 
we are looking at a house at the moment there is no one living in it and we are 1st time buyers they are looking for a quick sale we are approved for the mortage and al. how long do you reckon it would take for us to sign for it.
 
Tempted to say there is no such thing as a quick sale in this country but know full well if I do somebody will post that they bought and moved into their house two and a half hours after their first viewing....

It is true to say, however, that solicitors rarely display a great sense of urgency in conveyancing matters. The cynic in me might speculate that this stems from the fee already being in the bag so what's the rush?

In truth, any outcome that depends on people in a quasi-adversarial relationship in different offices co-ordinating their efforts to secure a result tends to look doomed from the outset. And then throw into the mix unresolved issues from previous conveyances of the same property.....
 
time-frame

oysterman said:
It is true to say, however, that solicitors rarely display a great sense of urgency in conveyancing matters. QUOTE]

Here is some math.

Bargain Solicitor (some mentioned around here ) for €250k house = €800 cost

Normal Solicitor Charges for Purchase = 1.5% of house value or €4250 in this example

Normal is as slow or slower than Bargain guy because you were dumb enough to use him :) . The Bargain guy will want rid of you as fast as possible to get the cash in .

A Bargain solicitor will save you a lot of money and has no built in incentive to p1ss around unlike normal ones with fat margins .

I'd say quick sale in Ireland = 3 Months from now you move in .

If bboth parties used a Bargain solicitor it could be done in under a month.
Click to expand...
 
Well, yes, solicitors can very often be a contributing factor but.............

What about

1. The purchaser who has loan approval but has not complied with the conditions? Chiefly the life cover.
2. The purchaser or vendor ( or both) who is/are dishonest about their real timeframe. So much of the conveyancing process is based on trust but it all falls apart when any one is lying.
3. The vendor and estate agent who have agreed a sale but not yet notified the solicitor? It can take anything up to 6 weeks to take up title deeds from a lending institution.
4. Like you say, the unresolved issues - defunct management companies, marital,planning, probate, etc.,etc. Apart from inertia, these are the primary delaying issues.
4. The clients who refuse to deal with issues, hoping that they will miraculously disappear if they are ignored?

But to answer the issue of how long? Realistically, anything from 2 weeks to 8 weeks.


mf
 
Many thanks folks for your quick replies.
Am sure that the buyer is trying to delay the sale for some unknown reason. My contracts for sale have been ready 8 weeks ago with everything in order ( a very on the ball solicitor). Just received word that the buyer wants me to undergo various cosmetic jobs before he will proceed- example he wants me to drill a hole in the utility wall to allow for a tumbledryer vent, also to replace two single sockets with one double socketetc. Considering this is a secondhand house which has not been lived in, finished to a very high spec (I done a lot of the work myself) I find this very cheeky. Told my solicitor that he was buying time for some reason and that I wanted signed contracts within two weeks or the house will go back on the market.
 
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