Anyone buying a house now - how long is it taking?

[tmwalsh]

Originally Posted by Noodle500

We were asked if we would move out as we were waiting for our house to be completed. Only us and another lady in chain. We said no as the hassle and cost of moving twice and renting wouldn't be worth it.

Are the buyers going to compensate \ increase their offer if you have all the hassle and costs of going into rented?

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I very much doubt it Noddle500.

I'm not moving into rented. Apart from being ridiculously expensive I gave up living in a slum after my student days. How some landlords have the gall to offer some of the houses I've seen or RightMove I've no idea. Quality rentals appear to be few and far between.

[Reunion]

We agreed the sale & purchase in September and still have not exchanged contracts. The local authority searches in some areas are taking weeks. We hoped to exchange this week but it is not looking likely. The biggest challenge we have faced is solicitors being closed over the Christmas break and postal delays. And incompetence - but let's not get started on that one.

[123]

Originally Posted by Scaramouche

August - January it’s taken for my parents. That’s from them putting their house up to moving day. They move next week. There’s only 3 in the chain, renters buying their house, no chain in the house my parents are buying.

This absolutely would have fallen through if they had to pay stamp duty - for all 3.

My best friend is the same, same time scale as my mum but not yet got an exchange or moving date - they will pull out if they can’t complete before the stamp duty has to be paid.

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We are moving this month. We are the sellers (we aren't buying anything we already have the next property). The buyers were in rented so they had nothing to sell either, so we were the "textbook" zero chain transaction

On the market : 10th Sept
Accepted offer : 12th Sept
Searches Back : 30th Oct
Legal to and fro : 7th Dec

First possible date to move was 22nd Dec, but as it was so close to XMAS (and both in Tier 4) we mutually agreed to end of Jan instead

So five months with no chain (but we could have done it in 4 months if we had both wanted to)

Anyone not in the position of having instructed searches now has no chance of completing before March 31st

[123]

Originally Posted by tmwalsh

I very much doubt it Noddle500.

I'm not moving into rented. Apart from being ridiculously expensive I gave up living in a slum after my student days. How some landlords have the gall to offer some of the houses I've seen or RightMove I've no idea. Quality rentals appear to be few and far between.

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You could always negotiate with them to share the money they save in stamp duty (after all if they don't complete before they will be paying it all or not moving)

This might then cover your stamp duty payment later in the year

[JudyC]

My son is waiting for the searches to be completed in the house he is buying. The search company have had them since October and the solicitors have chased them again last week.

[Guest]

We were in a chain of 4 .
Our sellers pulled out twice and we now have another property lined up who have agreed to go into rented .
As we have our mortgage offer etc and the rest of the chain was ready to exchange (day after our sellers pulled out!) we should be ok for end of March .
Searches in our area are coming back in about 12 working days.
Was about the same back in September when we did it for the last house too.

[Scaramouche]

Originally Posted by 123

We are moving this month. We are the sellers (we aren't buying anything we already have the next property). The buyers were in rented so they had nothing to sell either, so we were the "textbook" zero chain transaction

On the market : 10th Sept
Accepted offer : 12th Sept
Searches Back : 30th Oct
Legal to and fro : 7th Dec

First possible date to move was 22nd Dec, but as it was so close to XMAS (and both in Tier 4) we mutually agreed to end of Jan instead

So five months with no chain (but we could have done it in 4 months if we had both wanted to)

Anyone not in the position of having instructed searches now has no chance of completing before March 31st

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I’m not sure why I was quoted lol? I know all searches have been done in my two cases.

[catherinesian]

We are.

Listed our house 6th aug
Accepted offer 19th aug
Fell through (buyers lost their buyer) early September.
Sold again late September.
Found our plot 2nd nov, offer accepted 3rd nov.
Mortgage offers both back first week January and just waiting for searches to come back now. Hope to exchange / complete mid feb. Our buyers def need SD threshold - it’s saving them £15k!

[hideinpockets]

We had our offer accepted in August and we are still waiting to complete. We are in a fairly long chain and have only one delay with the top of the chain so I’m hoping we’ll be done by March but who knows. We should have been done by Christmas...

[Guest]

Originally Posted by catherinesian

We are.

Listed our house 6th aug
Accepted offer 19th aug
Fell through (buyers lost their buyer) early September.
Sold again late September.
Found our plot 2nd nov, offer accepted 3rd nov.
Mortgage offers both back first week January and just waiting for searches to come back now. Hope to exchange / complete mid feb. Our buyers def need SD threshold - it’s saving them £15k!

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It’ll be saving us 15k too !
We could pay it if we really had to but don’t think our buyers or their buyers could and I really don’t want to 😂