Residential Property - Timescales.

If you are buying or selling a property, your primary concern will be to complete the transaction as quickly as possible. A good firm of solicitors can make all the difference.
On average, the timescales for completing a sale or purchase are as follows:

freehold property: 40 days

leasehold property: 60 days

The time varies from transaction to transaction depending on a number of factors, for example, how quickly the other solicitors respond, how quickly the mortgage offer is received, or how quickly the searches are returned from the Local Authority.

The reason leasehold properties tend to take longer is because of the additional time spent examining and advising on the lease (often up to 80 pages long), and in waiting for information from the landlord and the management company.

If there is a chain involved (X buying from you, who is buying from Y, who is buying from Z), this can also slow things down considerably. However, fast response times, consistent communication and the use of high-tech document production systems can speed things up dramatically, and we specialise in all three.