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Sale to completion process on a four-day delay

There has been a slightly longer period from sale agreed to completion in 2018 compared to 2017, according to House Network.

The online estate agent found a four-day delay in completion, with an average of 117 days in January 1 2017 compared to 113 days in May 31 2018.

Despite this, home values from £100,000 - £300,000 are seeing year-on-year improvements. The agents reckon this increase in average is a delay in searches coming back from local authorities rather than complicated chains or mortgage issues.

Mark Readings, founder and managing director of House Network, commented: “At House Network we offer a pro-active sales progression service and highly involved in assisting through to completion day and we are seeing less sales aborted in 2018 with our current sales withdrawal rate at 15% compared to 22.5%.”

Readings believes buyers appear more committed, so whilst there is a small delay in sales completing the chances of doing so are higher, therefore the market is in a good place.

He added: “The key for sellers right now is to ensure they select an estate agent that not only saves them money, but who offers a full agency service including sales progression.”


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