House Sale Completion Time....

Anyone sold/bought a house recently, and if so how long did it take from offer accepted to contract exchange?

In a nutshell we accepted an offer 74 days ago........... still here now. 2 weeks ago buyer wanted £4000 knocked off, we said no.

Last week the buyers solicitor sent in a list of questions, 24 in total with 1 question having 16 sub questions (71 days after the accepted offer).

Yesterday our estate agent e-mailed stating the buyers have now requested searches to be done (73 days after accepted offer) and are also currently waiting for their mortgage offer to come in.

Is this sort of thing normal?

About ready to just pull the plug to be honest, we've missed out on properties because of this.
 


Anyone sold/bought a house recently, and if so how long did it take from offer accepted to contract exchange?

In a nutshell we accepted an offer 74 days ago........... still here now. 2 weeks ago buyer wanted £4000 knocked off, we said no.

Last week the buyers solicitor sent in a list of questions, 24 in total with 1 question having 16 sub questions (71 days after the accepted offer).

Yesterday our estate agent e-mailed stating the buyers have now requested searches to be done (73 days after accepted offer) and are also currently waiting for their mortgage offer to come in.

Is this sort of thing normal?

About ready to just pull the plug to be honest, we've missed out on properties because of this.
Buyer or/and his solicitor sounds a right bastard.
 
Anyone sold/bought a house recently, and if so how long did it take from offer accepted to contract exchange?

In a nutshell we accepted an offer 74 days ago........... still here now. 2 weeks ago buyer wanted £4000 knocked off, we said no.

Last week the buyers solicitor sent in a list of questions, 24 in total with 1 question having 16 sub questions (71 days after the accepted offer).

Yesterday our estate agent e-mailed stating the buyers have now requested searches to be done (73 days after accepted offer) and are also currently waiting for their mortgage offer to come in.

Is this sort of thing normal?

About ready to just pull the plug to be honest, we've missed out on properties because of this.
The buyer has a crap Solicitor. I am currently moving and made a point of getting a good Solicitor- wasn't the cheapest, but came recommended
 
It will be happening a lot due to CV and Brexit,buyers know prices will be dropping and trying it on,some seriously some not.
 
They also told us in July days after offer accepted that the mortgage was all agreed in principle........ 74 days later and they are seemingly waiting for their mortgage offer to come in. Piss take

Surprised you’ve waited this long , ask for a non returnable deposit to be deposited with your solicitor this week or it goes back on the market.

No more f***ing about .
 
Prices haven't dropped have they? If anything they've crept up a touch. They might drop in the coming months but not as yet.
Very few will be rising now or in the short term,going back and looking at previous sale prices of the house or similar houses in that area gives a clearer picture than estate agents wildly differing values and opinions.Since the 2001-2003/04 boom the majority of homes haven't increased a great deal in the NE bar the odd hot spots imo.
 
There’s a big backlog of mortgages at the minute but nothing that should be going on this long. I could be wrong but it’s possible they had an offer in on another property, and may still have, and are weighing up their options before committing
 
They also told us in July days after offer accepted that the mortgage was all agreed in principle........ 74 days later and they are seemingly waiting for their mortgage offer to come in. Piss take
You need to ask to see proof of funds as a starting point.

Secondly, you need to give them a deadline to complete.

Thirdly, put it back on the market whilst also stringing them along pretending you’re going to sell it to them.
 
There’s a big backlog of mortgages at the minute but nothing that should be going on this long. I could be wrong but it’s possible they had an offer in on another property, and may still have, and are weighing up their options before committing

That's what we reckon. My brother works in mortgages for Barclays and he said as above, bit of a wait but nowt like this. He reckons they are delaying and trying as much as possible to get a price reduction.

Time to pull the plug i reckon, the wife is fed up and is seemingly at the point now where she just wants to stay put. We've missed out on 2 houses in the meantime which is a piss take and at present there isnt anything to our liking on the market.
 
That's what we reckon. My brother works in mortgages for Barclays and he said as above, bit of a wait but nowt like this. He reckons they are delaying and trying as much as possible to get a price reduction.

Time to pull the plug i reckon, the wife is fed up and is seemingly at the point now where she just wants to stay put. We've missed out on 2 houses in the meantime which is a piss take and at present there isnt anything to our liking on the market.


so you’ve been onto the estate agent to pull it off the market then ?
 
That's what we reckon. My brother works in mortgages for Barclays and he said as above, bit of a wait but nowt like this. He reckons they are delaying and trying as much as possible to get a price reduction.

Time to pull the plug i reckon, the wife is fed up and is seemingly at the point now where she just wants to stay put. We've missed out on 2 houses in the meantime which is a piss take and at present there isnt anything to our liking on the market.
I wouldn’t pull the plug. You obviously want to sell so you’re just spiting yourself. Use it to focus the buyer. Give until xx date for them to complete, a short term date. Give them advance notice that the property will go back on the market at an increased price to reflect the change in the housing market. Nothing drastic, you still want to sell, just enough to make it stick in the craw if they want to buy.
 

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