Buying A House – A Timeline.
How long will it take?
In England, Wales and Northern Ireland, the speed of buying a house depends on several things including the circumstances of the buyer/seller: length of chain/s and the efficiency of communications between all parties. Therefore you might be lucky enough to complete within 8 weeks in the most straightforward of cases but could take 8 months if there are hold ups anywhere along the line.
So you find your ideal property and make an offer. This may or may not be accepted and negotiations may take place and conditions made on a price.
If your offer is accepted then you instruct your conveyancing solicitor. They will make the necessary checks on the property. A survey must be carried out.
Exchange of Contracts is made. You pay your deposit on the property. This is when you become legally bound to purchase the property.
Completion takes place: You or your mortgage company pays the balance and the house is yours.
See our FAQ’s for a more detailed look at each of these elements.