Forward Thinking Will Shorten Your Property Completion Time

You have decided to move house and understand what you can afford. You have movement in your outgoings should interest rates rise. That forward thinking is just what you need to ensure you can indeed complete in less than 5 months. It should be 3 months but so many people instruct their Solicitor at offer stage and waste at least 2 weeks. If you want to complete fast then you need to have a Solicitor instructed when you place your property on the market for sale. If you are buying only then ideally you instruct a Solicitor when you are viewing properties.

Why the need to Instruct a Solicitor promptly?

The Solicitor on instruction will send out a Client care pack and you will need to read the contents of that pack and agree to the terms of engagement. You will need to return relevant paperwork signed before the conveyance can start. Assuming the care pack is posted to you and you return the signed agreement then this could take 8 days. Of course receiving the care pack be email and scanning the documentation backs reduces this time to say 2 days.

On receipt your chosen Solicitor will start the conveyance by carrying out relevant ID checks on you. Then if that is all ok they will be interested in progressing your property transaction. This is the bit that can start off really badly. Sometimes Estate Agents do not pass Buyers Solicitor details to their Vendors Solicitor until a Survey has taken place. Sounds crazy but that is what some do. You can make your offer on the basis that details will be forwarded before Survey. That’s important, it shows that you mean business and are willing to spend monies to get the job done fast. When you do place an offer do you advise what an ideal exchange of contracts date would be. It could be in 3 months time!

You have to be realistic and set from the outset a date that all parties can work to.

When you instruct a Survey you will probably find that it can be done within the next 10 days. Solicitors can if instructed in the meantime carry out the searches. The Homebuyer Conveyancing quotes include a search pledge which enables the searches to be carried if required before the Survey. The pledge provides the Buyer another set of searches for Free up to a value of £300 should you need to pull out of the transaction through no fault of their own. This is worth considering as many Local Authorities are struggling to get their searches done quickly. The Homebuyer panel does have access to faster searches and some useful indemnity policies.

So by forward thinking you can set the scene for a fast completion.

1. Instruct your Solicitor promptly
2. Return documents so the conveyance can begin
3. Make an offer on the basis that your Solicitor details are passed to the Vendors Solicitor on the day of the offer being accepted.
4. Ensure the right contact details are passed over and ask for the Vendors Solicitor details so that you can check them. Crazy that details can be incorrect but it’s worth checking to avoid delays
5. Consider carrying out the searches before Survey. Does it help you?
6. Book a Surveyor so that you can have report back from them within 10 days of offer. That means ideally you want the Survey booked within 7 days of the offer.
7. Ensure that all parties are working to the same realistic exchange of contracts date
8. If it is raining checkout your planned property purchase. Your solicitor will be carrying out a flood risk check but why not have a look yourself. So many new Builds are built on ground that was subject to high levels of water.
9. Understand from the outset how you can ask a question to your Solicitor knowing that you will get an answer back. They may have a direct line, an email for specific questions an extremely efficient paralegal.
10. Set out key milestones with your Solicitor for updates. That will alleviate the strain you feel.

So in a nutshell those properties that take a long time to complete have many reasons, but in the main its because Buyers and Sellers don’t understand what needs to be done and by when. They need to be chased which slows down the transaction time. It’s all about forward thinking.

Homebuyer Conveyancing has a comparison website where Sellers and Buyers can compare conveyancing quotes online without entering their personal details. They can in seconds choose a Solicitor by price, location and by Mortgage Lender. Instructing when ready 24/7. They can instruct or take away a quote and schedule a call back to discuss their quote. Quotes are clearly itemised covering legal fees and disbursements.

Providing you with the clear understanding on which Homebuyer Conveyancer to instruct. Do call the Homebuyer Conveyancing helpline on 0345 463 7664 if you are unsure on which Solicitor is best for your needs. Homebuyer gets calls everyday from cash buyers that want to complete in just 21 days. Finding the right Solicitor and managing capacity service levels is paramount on Buyers and Sellers completing on time.

Time is running out – Instruct Your Property Solicitor promptly