We've all heard the talk around "power teams" and how it can facilitate a fast transaction, but in reality no matter how well oiled your team and processes might be, buying property takes time and you should always add 20% more time to the buying process above your estimates.
I've heard a lot around networking events, various experts claiming they can secure and finalise a deal in a matter of weeks, even days, but unless you are buying at auction, it's unlikely you'll exchange in 4 weeks.
It's true that there are some cases where people have done deals in a very short time period, but these are exceptions rather than the norm.
In general, the sales process is more often than not, delayed by "the human factor". This is a large array of possible things that could happen that would delay your purchase.
No matter if you are buying for investment, or buying for yourself, the human factor is a powerful force. It encompasses the entirety of what human life can throw at you, and then some!
The usual things that might create small delays from people include things like:
- taking a little bit more time than normal to do things
- being pedantic over tiny details
- posting snail mail late
- general inefficient resource management
Lot's of little delays will add up to big delays.
However, these are nothing compare to the myriad of possible things that can happen that would cause considerable delays all the way to pulling out. Big life events often get in the way such as weddings, births, deaths and everything in between.
I guess what we are saying is that don't believe all the hype that property trainers tell you about quick turnaround deals, they do exist, but in general they are the exception and not the norm.