One of the most popular questions that clients ask is “how long will my transaction take?” and it is one of the most difficult questions to answer.
By the time that matter reaches our offices, you may already have been involved in months of searching (either for a buyer or for a property to purchase) and so by the time matters reach us it is little wonder that you just want to get on and complete the transaction and either sell up and receive the proceeds of sale or, get the keys to your new home.
How quickly a transaction can progress will depend upon various factors, including:-
– Whether the property is freehold or leasehold (often leasehold matters take a little longer due to the additional party involved being the Freeholder/Landlord);
– The length of the chain in the transaction – the more parties that are involved, the longer things tend to take as the entire chain need to be ready to complete at the same time;
– Whether your purchaser, or indeed yourselves, require a mortgage and how quickly that Mortgage Offer is processed and issued by the Banks;
Additionally, matters could be further complicated if the Seller is deceased as a Grant of Probate would need to be obtained in order for the sale to proceed and further, if there were tenants in a property as those tenants would need to vacate before completion could take place.
One thing that can be said for certain is that here at Foskett Marr Gadsby & Head LLP we listen to our clients and will endeavour to achieve whatever timescale you wish in connection with your own personal transaction.
Please make contact should you wish to instruct us in connection with your property matters on 020 8502 3991 and ask for Tara Granger, alternatively email taragranger@foskettmarr.co.uk