Does anyone have experience of how long it takes from the decision to buy a house to the day you turn the key in the door?
I suppose it’s akin to estimating the length of string but I’d be interested in hearing some experiences just to have a very general idea. The house-hunting bit can take any amount of time but many of us have effectively been doing that part of the work very intensively for many years. After thousands of WIW threads we are hardly novices.
But what follows the bit where you view a house and make an offer?
You enter a mysterious process in which all the steps take an inexplicably long time, during which your solicitor mumbles unintelligibly about exchanging contracts, searches, land registry etc. etc. Also, the laws of arithmetic are temporarily suspended, enabling him/her to make a 10,000% markup on “postage”.
in the good old days of the celtic tiger you could buy a new house of the plans,get tied into an agreement you cant get out of, and wait years for the builder to finish and stick you with a house worth have what in was worth when you started.
But in todays more buyer friendly times once there is only 2 or 3 transactions involved and nobody pulls out it should only take about 16 weeks on average
best of luck by the way and make sure your solicitor covers your arse, bridging loans are as rare as hens teeth
My own recent experience with no mortgage and no chain was just under three months from offer accepted to keys being handed over but it could have been done in six weeks if we had pushed hard. Circumstances meant we were away for more than half of the closing period so letting it drag out suited us.
We sold our family home in 2010. Put the sign up just after the May bank holiday weekend, went sale-agreed in mid June (so approx 6 weeks) and final contracts were exchanged at the end of August (about another 7 weeks) so approx 13 weeks in total.
I have just been involved in selling another house and it was a similar time frame (though this house had a structural issue which needed to be dealt with so that added maybe 2 weeks of extra time to the process)…
I think, at least in the area of conveyancing, a normal competitive market has developed in recent years. Someone posted on here recently about being quoted in the region of €800 including VAT. There are lost of options at €999 plus VAT. Considering you would have been paying north of €3,000 plus VAT in the good old days I think this is probably the one area of the economy where prices have dropped even further than house prices. If the job is done properly there is a whole lot more to it than just sticking some papers in the post. When we bought last year our solicitor helped us resolve a number of issues during the closing process that could have come back to haunt us if they had just been brushed over.
Thinking about it. Have had a few impure thoughts about buying lately, despite reassuring myself with talk of bouncing dead felines.
Sounds like Shano1 is looking at a nine-month lead time, although others have had better experiences. Bit frightening.
We would be moving from rented apartment on d’continent to Ireland so distance complicates things a bit and I wouldn’t want to start the process six months before our lease ends if there’s a risk of it taking nine months.
That said, the advantage of buying while renting spares us from the double agony of trying to sell and buy in the same movement.