Q. How long in real terms should it take to sell my apartment now I have gone under offer?
A. As a rough guide we generally say around 6-8 weeks to exchange and complete. However, it can depend on a number of factors. As a rule freehold transactions are usually much easier to progress than leasehold properties. Leasehold properties generate exceptional amounts of enquiries, this can be time consuming as your solicitor has to collect information from both the leaseholder and the freeholder, these are often then referred on to a third party to be resolved before your solicitor can then pass the correct information back to your buyer’s solicitors. Of course, having both a good solicitor and estate agent that knows your local area will help immensely as they will be familiar with any likely problems and know the best way to resolve raised enquiries both quickly and efficiently. Check with your agent that your buyer has his finances in place too, as mortgage offers are also notorious for holding up transactions. Finally, speak to your solicitor on a regular basis, as this will endorse your need to conclude the matter as swiftly as possible.