Always Learning
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- 142
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.
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.