What Is a Grace Period when Buying and Selling a Home

Have you found your dream home before you’ve sold your current one? That awkward in-between moment can feel like a nightmare, but that’s where a grace period could be your secret weapon.

In this guide, we’ll break down exactly what a grace period is. We will explain why a seller might agree to one, and how you could use it to your advantage. Whether you’re in a property chain, stuck in a slow market, or just need a little more time to get things moving. Let’s dive in!

What is a grace period?

A grace period is the time it takes (typically four or six weeks) during which a homeowner might agree not to accept an offer from anyone else. This allows time for the preferred buyer to sell their property. In such an instance, the seller may also agree not to conduct any viewings from other interested buyers.

But let’s also be clear about what it is not.

It’s not a given that a seller will do this. It’s also not an indefinite period, because the seller quite reasonably wants to progress with selling their home. Also, even during a grace period, the seller may keep their home listed with an estate agent and on property websites. This is to avoid having to start marketing from scratch if the buyer cannot proceed at all.

Why would a seller agree to a grace period?

Agreeing to a grace period can be for many reasons and isn’t just a kind gesture. It can be a practical move for sellers in a tricky spot. Here are some common reasons a seller might say yes:

• The buyer has a last-minute hitch
  A previously agreed sale falls through because the buyer’s own buyer pulls out. This forces them to relist their home and delay proceedings.
• The seller has a personal deadline
  The seller needs to sell and relocate quickly due to a job move, a change in school catchment area, or family commitments. They have found a committed buyer, but the buyer needs to sell their home first.
• Mortgage complications
  Buyers may see their mortgage offer expire before completion. They need extra time to secure a new one that fits their financial circumstances.
• Chain-related delays
  Property chains can be delicate; one small hold-up anywhere along the line can throw off the whole timeline . A grace period can help keep the deal alive.
• Market uncertainty
  In a slower or unpredictable market, properties can take longer to sell. If a buyer is still waiting to sell their own home, a seller may offer a grace period rather than losing them altogether. It’s a way to keep a serious buyer while avoiding the hassle of re-marketing the property.
• Building surveys or legal issues
  If a buyer discovers a minor issue in the survey or contract, they may request more time to investigate further rather than walk away.
• To avoid the hassle of re-marketing
  Sellers may prefer to stick with a buyer they’ve built rapport with. This may mean waiting a bit longer rather than going back to square one.

So, the grace period can be helpful to both parties to allow a transaction to proceed.

Ways to help secure a smoother sale

Most people sell a property the traditional way, through an estate agent on the open market. And while market conditions will always impact how quickly you find a buyer, working with a local, professional is advisable.

If you’ve been offered a grace period after having your offer accepted on a new home, there are steps you can take to speed up the sale of your own property. This applies whether your home has already been on the market for a while or it’s just been listed for sale. Your estate agent can offer expert advice on how to attract serious buyers quickly and boost your chances of securing your onward purchase. They can help with:

• Setting a competitive asking price based on agents’ experience and the performance of similar properties in your area. This will tempt would-be purchasers.
• A presentation strategy involving decluttering, sprucing up elements like paintwork, gardens, and communal areas. Your home must be ‘dressed to impress’ with expertly arranged furniture and fittings to maximise lifestyle appeal.
• Marketing strategy, including possible advertisements on top of the usual entries on the agents’ website and property portals;
• Sales techniques such as holding an ‘open house’ where an agent invites potential buyers to have an exclusive opportunity to view your home.
• Expert photography to make the property look fresh and appealing. Use new photos if the property has been on sale for some time already.

How auctions can help speed up your sale

Property auctions are becoming increasingly popular ways to sell, particularly if you are after a quicker sale compared to traditional ways to sell a house. 

If you’ve had an offer accepted on a new home and been given a grace period to sell your current property, selling via auction—specifically the Modern Method of Auction (MMA)—might be worth considering. Many estate agents now offer an MMA service to help speed up the process.

The property is advertised, and bidders (who typically visit and may carry out a survey) submit offers over a set number of days. Some MMAs allow sellers to choose their auction duration and set specific dates to suit their timeline.

However, it’s worth bearing in mind that homes sold at auction can attract lower prices than those sold through the open market. In return, the process is usually much faster, which can be crucial when working within a grace period.

What about quick sale companies?

Some sellers, especially those under time pressure, such as buyers who’ve had their offer accepted on a new home and been granted a grace period to sell, may consider turning to quick sale companies. These firms either purchase your home directly with cash or source a third-party buyer on your behalf. While they promise a fast turnaround, sometimes within a fortnight, the trade-off is usually the sale price.

It’s not uncommon for offers to come in significantly below market value. Some reports suggest as much as 15% less than you’d achieve through an estate agent or auction.

It’s important to be cautious here. These companies are not held to the same regulatory standards as estate agents. That means fewer protections for you as the seller, and more potential risk if things don’t go to plan.

At Move iQ, we’re proud to champion Propertymark estate agents—professionals who are fully trained, qualified, and accountable. Choosing to work with an agent who meets these high standards gives you more peace of mind. It also ensures your sale is handled with care, transparency, and the proper legal safeguards.

Last Updated: April 16th, 2025