As title, sold another one of our rental properties in England after we were approached by an agent suggesting the area had seen a 25% increase in prices, accepted a very quick offer end of July, and completed last Monday, that is almost 5 months !! the legals who are in charge of this process seem to work in in slow motion, very short chain of three, our property empty of course.

 

The hassle and stress must be unbearable for those actually moving home, to us it was a business deal, so not sentiment just frustration as we had to fly back to deal with some bits and the last four weeks were repeatedly yes it is on for Friday to be followed a few hours later by no not this week !!! argh, booking flights last minute is always a bad idea.

 

So I have asked the legals and my agent why ? and cannot get anything other than that is how it works ! seems to me the system in England needs some changes, I understand it is very different in Scotland, maybe bringing it in line would speed up the house market a bit more.

 

 

Jeff

 

Sounds a nightmare. My missus already owned our property when I met her... I dread the day when we move and have to go through all the kerfuffle as I have no first hand experience of it.

I bought my house brand new with no onward chain, so for me, it was an utter breeze.

So I have asked the legals and my agent why ? and cannot get anything other than that is how it works ! seems to me the system in England needs some changes,

 

There seems to be a lot of variation in time scales.

I put an ex rental property up for sale at the beginning of Nov

Offer of full price accepted one week later.

I have pre signed the contract yesterday.

Buyer is a cash buyer and Im expecting to complete next week....hopefully.

 

In my experience stupid "queries" slow the process down...

Classic example. The buyers solicitor wrote to my solicitor....who emailed me asking me to confirm that the road is a publicly adopted road!!!!

FFS its all on the local council website for ANYONE to view.

 

In the past I have bought properties off a bank or building society who normally insist on a 14 day sale... so it can be done.

Ours was 6 weeks from offer to keys

9 months from my offer being accepted to moving into our place, all held up by the old lady who's house we were buying. It was only a 3 person chain, our house sold in a week of going on the market and I brought this house in a blind bid, the old girl got moved into a nursing home. It was a right pain in the bum and I feel for anyone who's moving.

Ours was about 3 months offer to keys I think, can't remember exactly, with my partner selling her flat to a cash buyer and no upward chain from us so basically no chain at all.

 

There were a lot of queries that took some time to come through, flood risk report, valuations, electrical certificates, building control sign off etc. The flat was much worse though, lots of checking leases and whether she was up to date with ground rent payments.

 

Still, it's all stuff that makes sense when it comes down to it. We'd have been pretty peeved to find the rewiring hadn't been signed off and required another £5k to redo for example.

Agree enquiries and property reports take time, but as ours was a rental for 15 years so all of the correct paperwork was in place from day one, my buyer was selling a five year old property and his buyer was first time buyer, sure it could of been a lot quicker.

 

Jeff

Things change a lot in this game. Despite the insistence of those who haven’t moved for 39 years, it’s rarely a fast process. A lot of friends are buying at present and it follows a trend. On average from offer to getting the keys in hand takes 12 weeks. Now I know it can be done faster but in the half a dozen cases Ive been close to in the last three years it isn’t.

The process for us was a nightmare and I’d have happily strangled our solicitor more than once and his smug ass receptionist. Like Pete said they seem to frustrate things on stupid points. One of my mates spent a fortnight waiting, whilst they were arguing over a non existent wall and refusing the exchange of contract. Something about a missing certificate. In the end it transpired it never existed.

I’m pretty sure they drag it all out deliberately. Can’t wait to do it all again...

As you know I have just bought a house...this was the speed...offer (empty house), accept, mortgage sorted (with a few issues to sort), surveys done, conveyancing done, move in within 6 weeks!!! Can be quick if you ise teh right people we felt.

A lot of processes can take too long in England - often for no reason other than one person involved in the transaction being an idiot....

 

.....But a property conveyance can be done quickly and hassle free, so why doesn't it always....?

 

When I moved last (in 2006) it should have happened much quicker; were it not for the fact that solicitor of the person buying my old house was a f***ing idiot. Instead of compiling a list of the queries he had, then passing them on to my solicitors, he just asked one at a time. We were supposed to exchange on an agreed day - but he asked one new question every day for over a week....:mad:

 

And it's not just because the lawyers want to drag it out to charge more money either; because most conveyancing is a fixed fee - so it really beggars belief!! I feel for you Jeff; so good luck with the (eventual) sale.....:clover:

 

I feel for you Jeff; so good luck with the (eventual) sale.....:clover:

 

Yes it was a pain, but all done, even helped the new owners move in as they were up against it moving out of their house..

 

Jeff