Property buyers frustrated by the amount of time it takes to complete the purchase of a home in the UK often blame the conveyancing system.
They point out that the legal act of exchanging deeds and documents relating to the purchase or sale of property or land can take as little as 30 days in Australia, and ask why conveyancing can take months to complete in the UK.
To limit delays and get the property buying process moving, Online Conveyancing Quote suggests five questions to consider.
How much do you charge?
Conveyancing is not only known for being slow and unresponsive, but expensive too. However, many online conveyancing firms offer a great service at a great price. And because they work as a team, they can speed up the process.
Are your finances in order?
What can slow the buying or selling of a property is when the finances are not quite in place. This relates not just to your mortgage offer, but also having the money ready to make payments instantly. Many aspects of the conveyancing process depend on the payment of certain fees and costs. In fact, lack of funds has been known to derail a move at the eleventh hour.
Before embarking on buying a property, it is wise to do some groundwork. Get the mortgage offer in place, have the money available to pay the third parties involved in the property purchasing process and plan aspects of the purchase before you make an offer.
Are your responding quickly enough?
There are times when the vendor and buyer will be asked for information. For example, written questions in the form of the seller’s pack that ask what will and will not be left or included in the sale price. You may also be asked for certified copies of your identity documents.
When responses from buyers and sellers take longer than necessary, the process invariably becomes more drawn out. As soon as you are asked for information, respond as soon as you possibly can but ensure you read and understand all the documentation. This way, it is not you holding up the process but aiding a smooth journey to the moment you get the key to your new home.
Are you staying in touch with everybody?
There is a fine balance between keeping a handle on progress and badgering people non-stop.
However, maintaining contact is one way of making sure your move is still a priority;
- Your conveyancer – stay in touch with your team, following updates online if this is an option that they offer. If this is the case, all major progression steps will be added to your case online or, you can still call if there are burning issues that need resolving.
- The estate agent – the often under-used person in the selling and buying process is the estate agent. Many people think they are only there to advertise their property and once an offer is in and the conveyancing process gets underway their part has finished. Don’t forget, however, that they are only paid if the house sale goes through so, if the conveyancing process seems to be stuck or wobbling, give them a call to chase their clients.
Are you asking questions?
The conveyancing process can seem long, but it is an important process that ensures you have all the correct titles, documents and deeds that you need to be able to call your new property your home. Whichever conveyancing firm you commission for your next property purchase, ask them how the process can be speeded up.