how long to close

[C'on]

Hi we have gone sale agreed on our house and are due to sign in three weeks time. How long does one usually have to move out after signing?
Thanks in advance

 

[LDFerguson]

I presume by signing in three weeks time you mean that you expect to sign contracts in three weeks time. When signing contracts discuss with your solicitor when you would like to move out and close the sale. Typically, closing would be around four weeks after contract signing but other time periods can be agreed between the vendor and the purchaser.

Liam D. Ferguson

 

[C'on]

Thanks for this, yes I mean sign contracts. Just one other question, when contracts are signed does this mean the sale is then legally binding?

 

[JohnJay]

AFAIK, its not legally binding, but if the buyer pulls out after contracts are signed, he/she will loose their deposit

 

[sadie]

First thing is: just because you are due to sign in three weeks doesn't mean it'll happen in three weeks. The buyers may taken longer to get their mortgage offer/insurance etc in place.

So you just need to wait and see. So don't pay over an non-refundable money/deposits or sign any leases on a rented place just yet, in case this Sale takes ages or falls through.