Purchasing a property is one of the most important and expensive exercises that most people will ever undertake. There is enough stress involved in looking for property and securing your mortgage without the actual transfer of the property suffering delays adding to your anxiety.
So, how are these kinds of hurdles avoided? Here we will take a look at what you can do and how your conveyancer can help.
Law Society Protocol
First of all, once you are thinking of purchasing a property, it is important to put a legal advisor in place as soon as possible. This will be one of the ways of avoiding delays. You will want to find firms you can rely on so for example, if you are looking for the best conveyancing solicitors in Hemel Hempstead you will find plenty of information at sites such as Sam Conveyancing.
You will be reassured to know that the Law Society has a protocol used by licensed conveyancers and solicitors, but as they point out, the process is only as quick or as slow as the last person involved in the process Obviously, as the purchaser, you may the last person to be asked for their approval and so it is vital you have all the information to hand.
How can you help to avoid delays?
There are quite a few things you can do to make sure that you are not the one delaying the process, here are a few of them.
- Before you even begin to look at properties, research the kind of mortgage you want and how much you can borrow. Remember you can get a mortgage agreed in principle so that when your offer is accepted on a property, you can complete the mortgage application promptly.
- You may not be familiar with the process, but instruct your conveyancer to order local searches as soon as possible. The target for this is ten working days, but it is often much longer.
- If you want to keep up the speed on a potential purchase, arrange a survey of the property as quickly as possible. Once you have the report discuss it with your conveyancer as it may influence whether or not you wish to proceed.
- We are not forgetting vendors here, if you are selling a property, remember you must complete a property information form. This gives details of any disputes and provides documentation relating to the property covering insulation damp proofing and planning for any major changes.
- As a seller, you may want to develop the relationship with your estate agent and remember that they are working for you. They may well have a dedicated member of staff who helps to progress sales and it is worth finding out who that is since they may be able to assist in moving things ahead.
- Back to the buyer who must check building insurance. This should take effect when you exchange contracts so be sure to check quotes as soon as possible and discuss this with your conveyancer.
Finally, whether you are selling or buying a property, don’t be afraid to ask for regular updates from the professionals involved in the property transfer. You will often be given dates for the anticipated next stage of the process, but it is still incumbent upon you to press for those dates. Conveyancers have a lot on their hands and you are not the only client. Make sure your file does not stay at the bottom of the pile.
Follow these suggestions and you should not experience too many delays in the conveyancing process.