We answer a question ‘How long does it take to buy a property?’
How long does it take to buy a property? Buying a property varies depending on: your and the seller’s positions, conveyancing problems plus other random delays. Usually, the whole process can take between 6 weeks to 8 months however if you have a good team in place (solicitor, estate agent etc) then this will always help the process run more smoothly.
Finding a property means researching the area, finding estate agents and searching websites. This can take anything from days to weeks. Then you will need to put in an offer which will tell the seller what you’re willing to pay and any other conditions. This step can take 4 to 12 weeks. Once the offer gets accepted and both you and the seller have come to an agreement you will need to get a survey. Getting a detailed survey means the whole property can be checked and any changes in the offer price can occur.
Next, comes the exchange step which is when you pay your deposit. Here you can not back out without major costs. This can be immediate to 4 weeks. Finally, comes the completion stage which is when you pay the rest of the cash and all the contracts are signed. After this, you will receive the keys for the property and the property becomes legally yours.
We hope this answers your question ‘How long does it take to buy a property?’. If you are looking to buy a property in Central London, please visit Greater London Properties, Central London’s largest independent estate agent or call us on 0207 113 1066.