As a cash buyer, what is the quickest time one can complete and exchange on buying a residential property in the UK?



  • As a cash buyer, what is the quickest time one can complete and exchange on buying a residential property in the UK?


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    1–2 months.
    The bottleneck is ALWAYS, the solicitors who will take their damned sweet time.
    They have to get various energy reports and also historical reports like coal mines etc.
    This is what takes time. The solicitors take their time doing this as do the UK government agencies.
    Additionally, in the UK, you can’t waive any rights like in the USA. So, therefore, a minimum number of checks need to be done for anti-money laundering, etc.

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    If you are foolish, reckless or desperate, probably a couple of days. If you are sensible, you will engage a surveyor to check out the physical condition of the property and verify that you are paying a reasonable price. A solicitor to confirm that it really does belong to the person selling it and also to check whether there are any developments such as new roads that might adversely affect you. If you carry out these prudent procedures, then you should allow six weeks to complete.

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    This depends on solicitors on both sides and also the selling agent. If you have the right selling agent, they will continue to keep pestering the solicitor a push for closure as they want there percentage, but in my experience in buying in the UK, you can complete within a month.

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    If a buyer has an attorney that can move quickly and the title has no clouds, and the seller can do the same, it could close in 10 business days.

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    I’ve bought some properties on the condition of a 4-week completion. Even with the right solicitor who was on board with the deadline, this was tough work.
    Three months is the normal “if everything goes well” timescale.

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    It all depends on the notary but on average six to two months.

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    If your priority is speed, it can be done in a couple of days
    You only need to check out the fast buying, quick cash property buyers side of the market to see how companies regularly buy property in a speedy time frame.
    There are definite risks to this, in any case.
    In this market place, the buyers are very experienced and weigh up the risks by typically offering a lower than market price for the property to make up for any issues that may arise post-purchase.
    If you think about the steps involved in buying a property, to purchase quickly, many of these have to be missed entirely.
    Local property searches, surveys on the property, condition reports, and internal inspections.
    All of these a buyer would typically do, but if you're taking a risk and buying cash and speed is of the essence, that’s your risk to take.
    One element that is hard to speed up and you can’t miss it out is the actual conveyancing. The process will only go as fast as the slowest solicitor acting for the buyer or seller.
    If you want to do things correctly and have time to check everything thoroughly, then four weeks is pretty quick and six weeks is more typical

    Hope that helps