Buying or selling a property can be overwhelming, particularly when you are feeling anxious and wish to complete the process as quickly and efficiently as possible. Paperwork feels never-ending and even if you hope that your matter will run smoothly and without any hitches, there is always room for an issue to arise.
There are various potential reasons as to why a delay might occur within the conveyancing process. If there is a chain of transactions and one of the links in the chain fails, this will cause a hold up to all of the other transactions in the chain.
There may be additional complications such as the sale of a property being linked to a couple’s divorce proceedings so that both parties need to tie in a related purchase or, if someone has died, a grant of probate to their estate may be needed before the sale of their property can be completed. In addition to instructing a trusted legal professional to support you, you should consider ways to help speed up and strengthen your conveyancing process.
In this article, our experienced residential conveyancing solicitors consider some of the ways in which you can increase the likelihood of a smooth and speedy conveyancing process.
-
The property you are buying
If you are purchasing an empty property, for example if your seller has moved into residential care, this may help to speed up your transaction. Do however enquire whether the seller has capacity to sign the sale documentation or if someone holds a power of attorney to sign documentation on their behalf. If you are purchasing a newly converted flat, this may be helpful because the property will be empty but be aware that the developer’s solicitors will be granting a new lease of the property so it may take some time for the wording of the new lease to be agreed. There will also need to be a plan of the flat drawn up plus a plan showing any shared areas and the plans will need to be compliant with Land Registry requirements. A new build property will be empty but it might take time for the property to be finished being built. Beware agreeing to buy a property from a seller who promises to move into temporary accommodation for a quick sale. You may find that as soon as your offer has been accepted, your seller makes an offer to purchase another property and before you know it, you ae stuck in a chain.
-
Facilitate open communication.
During the conveyancing process, be responsive to your conveyancer and try to action any requests promptly. If you feel that your matter is not progressing as quickly as you would like or you would welcome an explanation of what is next, be sure to voice your concerns as soon as possible. Your conveyancer should do their best to help you feel comfortable during this crucial and stressful time and provide you with an explanation as the current status of your transaction.
-
Get ahead with your finances.
It is recommended that you contact a mortgage lender as early as possible when beginning to search for a property as this will enable you to assess affordability from the outset and secure a mortgage agreement in principle. Upon your offer for a property being accepted, it will be easier for you to complete your mortgage application, thus saving time. As soon as your mortgage offer has been formally confirmed, a copy of it will be provided directly to your solicitor by your lender.
-
Ensure thorough searches on the property.
Although local authorities aim for searches to be completed within up to 10 business days, the actual period can be much longer, often leading to frustrating delays. If the process is taking longer than expected, most local authorities offer an expedited service at a reasonable cost (which will vary with geographical locations). This approach should also be adopted when commissioning a survey. You can avoid wasting time by acting quickly and putting in hand a survey and any inspections needed as soon as practically possible. This means that any issues arising out of your survey or any inspections will be addressed at an early stage, allowing possible renegotiation of the purchase price or possibly “an allowance on completion”.
-
Choosing the right solicitor.
Arguably the most important factor in ensuring an efficient and stress-free conveyancing process is the choice of the solicitor or licensed conveyancer who will act for you in your property transaction. Check reviews and talk to family and friends. A positive online presence is key but there is no better source than advice from people whom you trust. Finally, check your solicitor’s credentials. When speaking with a legal professional, ask about their experience and qualifications. This will help to ensure you have peace of mind throughout your transaction.
Blackheath Residential Conveyancing Solicitors
At Beverley Morris & Co., we understand how important the smooth running of your conveyancing process is to you. When you instruct one of our specialist solicitors to support you, we will ensure that you understand what to expect and your obligations. Ultimately, we will assist you in operating a transaction that runs as quickly and efficiently as possible whilst maintaining the highest standards of client care. Our solicitors, based in Blackheath, South East London, assist clients in buying, selling, remortgaging, or transferring equity. To speak to a member of our team today, please call 020 8852 4433 or email enquiries@beverleymorris.co.uk.