Length of time to close on sale of site?

Hi,

Have just gone sale agreed on a site I own, Auctioneer should be forwarding doc's to my solicitor in next day or so.

How long, barring issues should this process take normally before sale is completed?

Thanks...

Re: Lenght of time to close on sale of site?

Depends.. min of 6 wks... depending upon no issues with maps, folios, right of ways, planning, money availability from buyer (loan drawdown) - coul drag on for months if none of these are lined up

Re: Lenght of time to close on sale of site?

A month would be a good transaction but that seldom happens. If the terms of sale are quite clear ( price, no conditions and an agreed closing date) and if purchaser has funds organised then a month is achievable. If all of these terms are not quite agreed ( ie if purchaser getting planning permission or if there are unregistered rights to be registered ( rights of way, easements, septic tank wayleaves etc.,etc) then how long is a piece of string?

If purchaser likes the site but would like to string out purchase because (e.g.) won't be building for a while so why pay a mortgage, the transaction can easily stretch.

Much depends on the parties, who wants what and when and the relative bargaining positions.

mf

Thanks Guys...