Understand the transaction chain
There is little doubt that if you wish to speed up the process of buying and moving into a property, it is important to understand the extent of the chain you will be entering in to. Ideally, the home you wish to purchase will be chain-free, meaning the vendor is not dependent on purchasing a property to move in to, in order for you to buy their home. Even if you are told there is no upward chain, we recommend having this checked formally by your conveyancer.
On the other hand, if there is a chain, it is essential to understand the number of links, the status of each, and expected timescales. Effective communication between all the conveyancers representing those in the chain is essential to ensure that any delays are anticipated and managed as much as possible. This will significantly speed up the solicitor in the house buying process.
Have a mortgage agreement in principle before making an offer
The process of securing a mortgage offer from a lender can take a month, and perhaps more if there are any complexities (e.g. if you are self-employed). Therefore, to reduce the time from acceptance of offer to completion, having your finance in order first will save a considerable amount of time. To receive a formal mortgage offer, you may be required to submit proof of income and identification documents; doing so in a manner that is thorough and timely will help you avoid unnecessary follow-up correspondence asking for more information, and the delays this brings.
Engage an experienced conveyancer
It is important to undertake research before selecting your conveyancer. Estate agents will often recommend a preferred conveyancer, or even their own in-house services, but these may not be the best option for your needs. Additionally, the decision should not be based solely on price. Consider all of the options available, remembering that many SRA accredited law firms deliver conveyancing services, providing clients with the assurance their chosen conveyancer is fully regulated by the main supervisory body for Solicitors in England and Wales. Guillaumes property conveyancing solicitors are experts both nationally and locally in the Weybridge and Surrey area.
A quality conveyancer will do all they can to expedite your property transaction whilst at the same time ensuring your best interests and your funds are protected. For example, delays in the conveyancing process are common when waiting for third-parties to respond to requests for information. This may include instances where clarification is required from the vendor following an unexpected survey finding, valuation, specialist report, or search. On occasions, it may be a local authority that is not providing information relating to a search in a timely manner, e.g. information requested on a planned nearby development, or specific environmental concerns such as flooding risk.
While your conveyancer understands they must wait for a response, those with experience know when to intervene to speed up the process. Often a proactive phone call from your conveyancer to the required person can save unnecessary correspondence, offering clarification, and removal of any blockers.
Skilled and speedy conveyancers will also book valuations and surveys as early as possible, which can be especially beneficial during periods of high demand. And if a specialist report is required (e.g. a dampness and timber inspection for an older property), seeking expert advice early on, and acting on any problems identified immediately, can save valuable time, not to mention lead to a possible re-negotiation of the price due to repairs needed to fix the issues spotted.
Stay in close contact with your conveyancer
Conveyancers with the highest standards will automatically remain in close communication with you; informing you of progress, next steps, and any possible issues. As a client, you can contact your conveyancer to find out the latest status, or raise a question at any point, and this is highly recommended as doing so may further expedite the resolution of any problems or queries.
How to speed up the conveyancing process?
Completing a property transaction within your target timescale is in part due to the decisions made by the purchaser. Less complex purchases, free of chains, where the conveyancing is carried out in a prompt and thorough manner can make the difference of weeks or even months. The most important decision which will dictate how smoothly and promptly the transaction proceeds is; however, the conveyancer you select; so choose wisely.
Guillaume recognise that the house buying and conveyancing process is a stressful one. Get in touch with our speedy conveyancing solicitors to kickstart your move.