Our Conveyancing Legal Hour is hosted by Kirstie Waite, Conveyancing Executive in our Residential Property and Real Estate Team.
If you require further help regarding buying and selling a property, please phone us on 01279 755777 or contact Kirstie Waite directly.
Our Conveyancing Team will be hosting the Nockolds Legal Hour on the following dates:
|Wednesday 18th April 2018 ||12pm - 1pm |
|Wednesday 30th May 2018 ||12pm - 1pm |
Our Latest Legal Hour Questions (18.4.18) Read your previously answered questions here
My estate agent has recommended that we try to exchange contracts for the sale of our house in 28 days. I really do need the sale to go through quickly is this realistic?
Estate agents commonly stipulate a 28 day exchange on their sales memorandum to all parties including the solicitors.
It is very rarely a true reflection of how quickly a sale can go through as this can depend on when the contract papers can be issued and you would need to make sure your solicitor has all your paperwork completed and returned to them as soon as possible to enable them to do this.
The buyer’s own position is crucial to how quickly they can move. If you require mortgage assistance you may need longer to complete your financial arrangements and complete the legal searches, survey and investigations. If there is also a related sale (i.e. a chain) then this can be even longer particularly if you do not know how long the chain is and if there is a flat in the mix.
Typically timeframes are more likely to be 7-8 weeks at the earliest for fairly standard freehold transaction and the national average is closer to 12 weeks. There are things you can do to speed things up and you should speak to your solicitor as to how you can help things move forward but managing your expectation will mean that you are less likely to be disappointed if the 28 days is not met .