What factors can delay the conveyancing process?
Nothing is more frustrating than things not going to plan, especially when it comes to buying or selling property.
Whilst many factors are outside of your control, understanding more about the potential pitfalls of conveyancing can prevent delays. Or, at the very least, help to prepare you for if things do go off-track.
Firstly, to fully understand what can go wrong, you need to be clear on exactly what conveyancing is.
What is conveyancing?
Conveyancing is the legal and administrative work needed to transfer the ownership of property from one person to another. The process starts as soon as an offer is accepted and only ends when the final contracts have been signed and money has been transferred.
Sounds straightforward enough, doesn’t it? So what can cause the problems?
Common causes of delays to the conveyancing process:
- Mortgage – a mortgage pre-approval is not a formal offer – this can only be given once a specific property has been chosen and will be subject to a valuation survey.
- Surveys – some lenders will insist on structural surveys, but they are not always necessary. If you would like to know exactly what you’re dealing with then a survey can be advisable for peace of mind. It will evaluate the full condition of the property from top-to-toe, assessing things that aren’t necessarily visible to the naked or untrained eye and ensuring nothing comes back to bite you at a later date. But hand-in-hand with this reassurance comes the fact more time will be needed both to arrange and carry out the survey and to rectify any defects discovered.
- Searches – whilst conveyancers are responsible for numerous searches, they have to co-ordinate many of these with the relevant local council. How quickly the council is able to respond can vary dramatically and is outside of your conveyancer’s control.
- Property information – planning consent, building management papers, leasehold details and title deeds are just some of the documents that can be needed before ownership is be able to be transferred. The process of obtaining them can all take time.
- Chains – in the vast majority of cases, buying and selling property is linked to further sales i.e. you’re selling your home and buying another one in its place. One transaction is dependent on the other. This, understandably, makes the process more complicated. If one part of the chain runs into complications, this impacts everyone, and delays are incurred through the entire chain – which is why ‘no chain’ is seen as highly desirable.
The best way to avoid problems?
The answer to this one is easy. Instruct a professional property conveyancer.
With the right team by your side, you stand the best chance of keeping the process moving and avoiding costly delays.
Here at GD Property Services, we are experienced property solicitors. We understand that buying and selling a property can be a headache, but we do everything in our power to make sure it’s not.
We recognise that often the most frustrating and stressful part of delays is the lack of information and that being kept informed can go a long way to easing the anxiety felt when things don’t go to plan. Working with us you will not only be assigned your own dedicated conveyancer, you will also have access to our advanced online system. Here you will be able to log in 24/7 to see where things are up to, as well as receive automatic updates at key stages.
Sounds good doesn’t it? So why not get in touch with the team today to find out more about how we can help you with buying and selling property? Call us on 0161 7101786, email firstname.lastname@example.org or request an instant quote now.