Indication of timeline, market to close?

[monkey0804]

Would anyone be able to give me an indication of how long from putting house on the market, to closing?

The house has to go through probate (all advise indicates this will take 10-12 weeks) We have been advised to sell in summer (beautiful garden and view in summer will show it at its best) and EA says it will take approximately a month to sell, with an additional (approximately) 3 months for conveyancing. A family member would like to keep it until Christmas. If all went to plan, then we would be delaying buyer for a month or two and I'm curious that's normal/acceptable?

 

[mf1]

My advice is not to add any more complications or delays than are strictly necessary.
I've had clients (purchasers) shy away from Executors sales because of the delays with Probate.
Purchasers want to close and get in as soon as possible. They are terrified about interest rates and uncertainty.

The family member, who may have their own very good reasons for wanting to stay on, needs to understand that if they do want to stay on, that that makes the transaction less attractive to a purchaser.

In the overall scheme of things, the extra delay would not be normal or acceptable.

mf

 

[myate]

Not sure if it makes any difference which part of the country you are in, but the house we bought had to go through probate also. Now it was left to a single daughter which made things easy, but probate only took around 4 weeks. Timelines vary of course. You could have extremely motivated buyers that want it to go sale agreed quick but then you guys might want to leave it to try to get higher bids. So it could sell in a week or longer. Closing from sale agreed generally will take 3 months at least, sometimes a bit quicker if cash is involved. The probate house we bought went sale agreed in August, and we got the keys end of November.