Typical length of time for house sale in UK? - General property discussion in Puerto de Mazarrón - Puerto de Mazarrón forum - Costa Cálida forum in the Murcia province of Spain
Los Alcazares car repair  service
ASSSA Insurance
Jennifer Cunningham Insurances SL

Join the Puerto de Mazarrón forum

Join the Puerto de Mazarrón forumMy name's Alex and this is my website all about Puerto de Mazarrón in Spain. Register now for free to talk about General property discussion in Puerto de Mazarrón and much more!

Typical length of time for house sale in UK?

Posted: Sat Feb 25, 2023 9:53am
4 replies82 views3 members subscribed
englishperson

Posts: 29

9 helpful points

Joined: 9 Oct 2021

What are the average timeframes for a house sale to be completed in the UK?

I read, from a brief online search, the typical delay from buyer being interested to the sale being completed is around three months, because of the paperwork.

What are the reasons for such slowness when a mortgage application can be processed in three days by AI nowadays?

Really can't understand why it takes so long to finalise a sale in the UK, mainly as it's not something I ever have to deal with directly.

RichT

Posted: Sat Feb 25, 2023 1:26pm

RichT

Super helpful member

Posts: 1134

1258 helpful points

Location: Lorca

Joined: 13 Sep 2019

Posted: Sat Feb 25, 2023 1:26pm

I think 3 months is average or even quick for a house sale to complete in the UK.

Firstly, is the property in a chain? If so, then you are not only dependent on the processing of your sale / purchase, but also a chain of other people all going through the same processes, agreeing sale & purchase prices, dates, etc.

Searches:

Local Authority searches - are there any planning applications pending which may affect the property?

Coal Board searches - if there has ever been coal mining in the area - for subsidence risks. 

Environmental searches - is there a risk of flooding, are there bats or newts nearby, etc.

Land Registry searches - does another property have a right of way across a part of your property? Does the property for sale match the deeds (land borders, etc.)

Mortgage approval - as you have stated. Mortgage providers will also generally want either their own or an independent valuation of the property.

In Scotland, the vendor collects most of this information in a Home Report, produced by independent registered and regulated companies (a bit like selling your car with all the MOT and service history, etc.). This was brought in briefly in England & Wales from 2007-2010, but then scrapped, so it remains the duty of the purchaser's solicitors to collate all this information and advise it it is safe to purchase the property.

One thing that I think could be improved is that almost all of this is done in hard copies and by mail, instead of electronic copies and email, which would be quicker.

englishperson

Posted: Sat Feb 25, 2023 1:54pm

englishperson

Original Poster

Posts: 29

9 helpful points

Joined: 9 Oct 2021

Posted: Sat Feb 25, 2023 1:54pm

Hi RichT,

Right, now I understand it far more.  Thank you for your very informative answer.

You would think there would be an easily updatable, centralised database which contained all that search information in this day and age, accessible to prospective buyers as well as solicitors and estate agents.

I can't but help have an impression of things being done similar to opting for the night coach and horses carrying mail in the 1600's..., your last paragraph reinforces that sensation.

Many thanks, most grateful.

Mags44

Posted: Wed Mar 1, 2023 5:43pm

Mags44

Very helpful member

Posts: 917

790 helpful points

Joined: 1 Sep 2019

Posted: Wed Mar 1, 2023 5:43pm

englishperson wrote on Sat Feb 25, 2023 1:54pm:

Hi RichT,

Right, now I understand it far more.  Thank you for your very informative answer.

You would think there would be an easily updatable, centralised database which contained all that search information in this day and age, accessible to prospective buyers as well as solicitors and estate agents.

I can't but help have an impression of things being done similar to opting for the night coach and horses carrying mail in the 1600's..., your last paragraph reinforces that sensation.

Many thanks, most grateful.

I think that you're right there. The general consensus of opinion seems to be that "it's always been done like this, so why change it"? Especially when so many lawyers and other hangers-on who are full of their own importance can make things take longer and therefore cost more. Ludicrous!

englishperson

Posted: Wed Mar 1, 2023 6:40pm

englishperson

Original Poster

Posts: 29

9 helpful points

Joined: 9 Oct 2021

Posted: Wed Mar 1, 2023 6:40pm

Mags44 wrote on Wed Mar 1, 2023 5:43pm:

I think that you're right there. The general consensus of opinion seems to be that "it's always been done like this, so why change it"? Especially when so many lawyers and other hangers-on who are full of their own importance can make things take longer and therefore cost more. Ludicrous!

Hi Mags44,

Thanks, with regard to your observation, I will be silent. Except for (as they say here) 'Quien calla, otorga.' :)

Sign up for free or login to reply to this topic

Want to reply to this topic? Login or register for free to post your message:

Find more General property discussion topics from a particular area:


Register for free!

Login to your account

Los Alcazares car repair  service
ASSSA Insurance
Jennifer Cunningham Insurances SL
Advertise your business here
Advertise your property
Help with my computer