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Selling my property - speeding up the process

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  • 03-10-2005 2:15pm
    #1
    Homer J Simpson
    Closed Accounts Posts: 172 ✭✭


    I have just enlisted an auctioneer to sell my property. Although I have not received any offers yet should I notify my Building society and/or a solicitor that the property is up for sale?
    What is the usual duration between initial offer from a buyer to them actually receiving the keys in hand?


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    #2
    OMcGovern
    Closed Accounts Posts: 503 ✭✭✭OMcGovern


    Depends on what your expectations are for the house price....
    If you get a few high bids at the start, then you may except early, depending on your circumstances. Generally people sit tight until they get near their asking price for the house. If there's plenty of interest, and lots of viewings of the house, then the estate agent may recommend holding out a couple more weeks to see if there's any more bids.
    You're probably talking at least 1 month for this process.. maybe up to 3 months. If you're not happy with the price you may withdraw the house from sale.

    The "conveyancing" process is where the solicitors come in.
    When you accept a bid from a potential buyer then the house is at "sale agreed" stage. You both exchange solicitors details, and it takes 6 - 8 weeks for this process to complete. A closing date of the sale is agreed, and thats when you hand over keys.

    So, from start to finish, it may take a good 3 months or more.
    When you get to the conveyancing process... if you and the buyer choose the same solicitor, then that may speed up the process a little more.

    regards,
    Owen


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