Can You Still Sell Your Home Before the Stamp Duty Holiday Ends?
The stamp duty holiday announced by Chancellor of the Exchequer Rishi Sunak in July comes to an end in March.
That may seem like a while away, but with house sales taking an average of 90 days, the clock is ticking.
You can still meet the stamp duty deadline, though, which is great if you want your home to appeal to buyers who can benefit from the stamp duty holiday.
We’ve even put this timeline together, breaking down the house-selling process and how long you can expect each part to take once you’ve accepted an offer.
Instructing and listing
First thing’s first, and you’ll need to instruct an estate agent. Once you’ve agreed on a sale price, a professional photographer will take some snaps of your home and make it look snazzy. Then you can list your property and wait for the viewings to start.
Time it takes to instruct and list: 2 – 3 days
Receiving and accepting offers
Now is the time when you should start receiving offers. As soon as you get one that you’re happy with, you can begin the process of selling your home. There’s no set time for how long it takes, but if your house is well presented, you can expect them sooner rather than later.
Time it takes to accept an offer: Dependant on local sales market
Hire a conveyancing solicitor
Once you’ve accepted an offer that you’re happy with, it’s time to go through the legals. You will need to hire a conveyancing solicitor who handles the legal work involved with selling a property. The conveyancing lasts all the way up until completion.
Time it takes for conveyancing: 6 – 12 weeks
Contract exchange
As conveyancing nears to an end, both you and the buyer will have to decide the length of time between exchange and completion. This will also cover which fixtures and fittings will be included and how much the buyer pays for them, as well as any discounts for issues flagged up in the survey.
Time it takes for the draft contract: 7 to 28 days
Move out
Congratulations; you’ve sold your home. Now you just need to move your belongings out of the property so that the buyer can move in. Hire removal people, ask friends and family to help and ensure the home is empty in time for completion.
Time it takes to move out: 2 – 3 days
Completion
Now it’s time to transfer ownership, at which point you will have successfully sold your home. The money is transferred from the seller to you, and your conveyancer registers the transfer of ownership with the Land Registry.
Time it takes to move out: a few hours
