Avg. Time to Complete a Sale - 4 Months?

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Always Learning

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I've purchased a couple of investment properties going back over the last 6 years. They used to take maybe 8-10 weeks between sale agreed and getting the keys. The last two have taken 4 months! I've just got sale agreed on another property and if things follow the pattern so far, it could take longer.
I didn't want to insult my solicitor by asking him what the hell is taking him so long, but I did politely enquire as to why the process is has taken 16 weeks to complete. He went through a couple of issues he had in getting information that he required back from the vendors solicitor and the planning department and some other things and basically said it's the vendors solicitor that's slow. He is very thorough and I appreciate that when I'm spending a lot of money. I'm just wondering is it normal?

Have any of you went through the process recently? How long did it take?
In particular, I'd love to hear from a solicitor that could explain to me that if this is indeed normal, then why? What are the reasons behind a deal taking so long to complete? In fact, even if it should only take say 3 months, I'd still like to read through the process to understand why it even takes that long.
 
Just shy of two months, bought in August. Actually could have closed 3 weeks earlier but gave bank sufficient time to draw down.
 
lff12 said:
Just shy of two months, bought in August. Actually could have closed 3 weeks earlier but gave bank sufficient time to draw down.
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Wow, that makes me even more frustrated with my situation! I reached sale agreed on November 22nd and as of today, my solicitor hasn't received the contract from the vendors solicitor. Crazy stuff.
 
Every property and situation is different.
Different issues arise.
I don't think that the average is going to really mean much.
 
Always Learning said:
I reached sale agreed on November 22nd and as of today, my solicitor hasn't received the contract from the vendors solicitor. Crazy stuff.
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Are the vendors in a chain and just stalling until they close the other deal?

Closing a sale quickly requires both parties to be organised and motivated, either one can stall the process for a long time should it suit their needs.
 
ClubMan said:
Every property and situation is different.
Different issues arise.
I don't think that the average is going to really mean much.
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Yes each situation is different, that goes without saying in just about every facet of life, I'm just curious. It's also nice to know what the best and worse case scenario's are which can only be ascertained by asking about other peoples experiences.

Leo said:
Are the vendors in a chain and just stalling until they close the other deal?
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No I don't think anything suspect is going on. I've worked with the auctioneer before and I know (of) the vendor. They just should have had their This post will be deleted if not edited to remove bad language together before reaching sale agreed and they didn't. It's just frustrating it's going to take so long. I wouldn't be surprised if this one goes past four months.

Leo said:
Closing a sale quickly requires both parties to be organised and motivated, either one can stall the process for a long time should it suit their needs.
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Seems like I'm the only side that's ever motivated! Which brings me back to wondering about my solicitor. Although I'm using a different solicitor for this purchase and so far it's taking even longer than the last!
 
Always Learning said:
Wow, that makes me even more frustrated with my situation! I reached sale agreed on November 22nd and as of today, my solicitor hasn't received the contract from the vendors solicitor. Crazy stuff.
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to be fair the owner wanted a quick sale and it was obvious i was in a position to do that
 
My luck may be changing on that front. I got sale agreed on a property after Christmas, not sure the exact date but early January and the solicitor contacted me today to say they have targeted the 17th of February. Which would make it around 6 weeks if we keep to that.
 
Finland 7 days folks from bid to moving in. No legal parasites allowed, digital land reg system. Sell and buy within week.

No surveys, principle of seller beware, any issue seller carries can for c. 10years.

Unsurprisingly, their NHS is fully digitised, unlike HSE

Anyone spot a trend
 
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