How long will it take to complete my house purchase?
House buying is a very exciting and daunting time. At David Gray, we understand the apprehension for a buyer wanting to receive their keys as soon as possible. The conveyancing process is often lengthy.
At David Gray we can understand the anxiousness around wanting to know how long the process will take. This blog sets out basic information on the key phases to expect in the process of house buying.
Finding your perfect property when house buying
Looking for a property you want to buy is time consuming in itself, this can take years for some people and is entirely dependent on finding a property right for you within budget and personal preference. Applying for a mortgage agreement in principle can outline how much money you will be able to borrow from a lender.
When you find a property you like, make an offer through an estate agent, who will support you on your buying journey, as well as supporting the sellers, throughout the overall conveyancing process. Estate agents will also help you negotiate prices. When you agree on a price, you should instruct a conveyancer or a conveyancing solicitor.
Estimated time for conveyancing
When buying a house, the conveyancing process typically takes 12 to 16 weeks after a conveyancer is instructed. The timescale is an estimate and depends entirely on circumstances that can crop up in the process.
No two property transactions are the same. Currently, cases are taking longer to complete since all parts of the process taking longer than usual. The conveyancing process is lengthy because there are several important legal steps to achieve before completion.
Key steps in the conveyancing process:
- Proof of funds and wealth.
- Pre-contract enquiries after receiving the seller’s contract pack. The main documents to expect are: the register on title, title plan, property information form, fixtures and fittings form and energy certificate.
- Property checks and searches. Buyers will inspect the property personally throughout the conveyancing process and arrange surveys, which are completed on your behalf and mainly cover water, drainage, coal and Local Authority searches.
- Receipt of your mortgage offer, for example, if you are using a lender.
- Exchange of contracts.
- Final funds sre transferred and then, the house officially transfers into the buyer’s ownership, with a completion date put in place when the whole chain in the process is ready to complete the transaction. When completion is confirmed, keys are ready to be collected from the estate agent.
- Post completion matters will take place to transfer the register on title to the buyer’s name.
At David Gray, we will make the house buying process as straightforward as possible, so you as a buyer can get your hands on the keys as soon as possible.
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Contact us
Call us now to speak directly to one of our conveyancing team on 0191 2438167 to arrange a free, no obligation quote or email us at Hayley.Baker@davidgray.co.uk and one of our team will get back to you.
