Sold subject to contract how long does it take

If you are buying a property, ensure your finance is in place well ahead of time. You can finally breathe a sigh of relief, when the exchange of contracts has taken place. At this point, your buyer is legally bound to the purchase of the property and completion day will be in sight. You will soon be picking up the keys and popping that cork!

Call us today to find out how we can help you with your next move on Wokingham or Crowthorne How to make sure your sale progresses smoothly Once you have received and accepted an offer on your property from a prospective buyer, it is now SSTC. Preparing for exchange of contracts Hopefully you will have got to the point of exchanging contracts without too much of a hiccup.

X Close Property Search. Exclude Sold STC. List Search. An overworked solicitor that takes ages to respond to even the simplest enquiry can reduce progress of your sale to a snails pace.

The way viewings are booked, the way clients are looked after and the ability to negotiate tactfully will all have a huge impact on the chance of a successful sale being agreed. We hope the diagram below helps you better visualise the estate agency landscape, and how your choice will impact your sale:.

Read: How to sell your house fast. The majority of struggling house sellers we speak to are failing to sell because they initially made the classic mistake…. Estate agents that can only win business by charging low fees or overpromising on the achievable sale price are almost always rubbish estate agents.

Top tip: Use our free estate agent comparison tool to compare the performance of your local estate agents in terms of their typical success rate, how quickly they sell properties and how likely they are to achieve asking price. Professional house sellers like us always use two strategically chosen estate agents working in competition with one another on a winner takes all basis.

There are 3 key factors that explain why we achieve superior results compared to a general public:. The study currently pegs the average time it should take to sell a house at 4. The study indicates on average it should take 7 weeks to agree a sale at an acceptable price. In cold markets it usually take longer to find a buyer.

As you can see, there are big variations between hot and cold markets. If you are thinking about buying or selling property in or around East London or West Essex, give us a call. Our friendly team of experts are always happy to help out with professional advice on all things property, so feel free to get in touch.

You can use the browser settings to change your cookie setting. Otherwise we'll assume you're OK to continue. Find your perfect property in Buckhurst Hill, Wanstead and surrounding areas. What does sold STC mean? Why effectively and not explicitly? Can other buyers still make an offer on a property sold STC? A solicitor starts carrying out all of the relevant searches needed for the property transaction. While all of this is going on - and the process can take around six to 12 weeks - no contracts have been signed.

Under offer means that a buyer has made an offer and the seller has either accepted it - or in some cases is still deciding whether to accept it or not. Sold subject to contract, or sold STC, means that the buyer has made an offer and the seller has accepted it. But in either case, until the paperwork is completed and the contracts are exchanged — neither the buyer or seller are legally committed to the sale. What's the difference between exchange and completion? There are many different factors involved in buying a home.

Generally, the time that it takes to buy a home is six to 12 weeks, but it can take up to six months. The longest part of the process is usually the conveyancing part, where the solicitor needs to get in touch with lots of third parties to check there aren't any risks to the property.