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buyers solicitor has contracts for house 6 weeks

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  • 20-10-2016 10:26am
    #1
    Leitrim86
    Registered Users Posts: 24 ✭


    Hi there, in the process of selling our house at the minute. we've found a buyer and their solicitor has the contracts for the past 6 weeks, they plan on signing them next week. is this normal process? seems a long time? any advice gratefully appreciated


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    #2
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    How long is the house sale agreed? The buyers might have been going through their final mortgage approval process, getting the survey done for the bank etc?


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    #3
    Leitrim86
    Registered Users Posts: 24 ✭Leitrim86


    ThisRegard wrote: »
    How long is the house sale agreed? The buyers might have been going through their final mortgage approval process, getting the survey done for the bank etc?

    house is sale agreed since August, they are cash buyers. how long does it usually take solicitors to go through the contracts?


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    #4
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    Does seem a little long in that case as the buyers should be all sorted. Ask your solicitor to call their solicitor to see what the hold up is?


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    #5
    Carlos Orange
    Registered Users Posts: 2,499 ✭✭✭Carlos Orange


    It took forever for the house I bought to go from sale agreed to having the contacts signed. Anytime the seller nudged me (via the estate agent) it turned out my solicitor was waiting for the vendor solicitor on queries. Might be no harm checking with your solicitor.


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    #6
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Leitrim86 wrote: »
    house is sale agreed since August, they are cash buyers. how long does it usually take solicitors to go through the contracts?

    Contracts are almost always standard documents, following the law society model. In this case five minutes is enough to check the contract wording.

    Checking the title can take longer, depending on the land history, inheritances, rights of way, whether its been registered or not etc.

    in my view, six weeks to sign contracts is too long for a cash buyer. On the positive side, it might simply be that they have an inefficient solicitor and they havent been prodding them to do the work, or it might be that they are doing other work so that they can sign contracts and close the sale very quickly afterwards. On the negative side, they mightn't have as much available cash as they thought, or they might be exploring other options and keeping you hanging.

    Your own solicitor should know whats happening if they are on top of things, but my experience is that they also tend to let things lie until they actually hear from the other side. Ask your solicitor to find out why there is the delay. If youre not happy with their response (eg something wisheywashey), set up a meeting with them to discuss the delay. This usually results in them obtaining some useful information from the other side.


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    #7
    Zzippy
    Registered Users Posts: 14,166 ✭✭✭✭Zzippy


    Cash sale, it's a bit slow. If they have opted to borrow some of it, however, banks are taking forever at the moment to issue final loan documents. Could be other issues, like queries over title, or just one or two slow/inefficient solicitors. We were sale agreed before and there were a few queries, which took forever to solve as one solicitor only worked part time, the other one didn't seem very efficient and all queries had to be made in writing and responded to similarly, so it was well over a week turnaround or more every time something came up.


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