One of the most trying parts of purchasing or auctioning a house is how long the purchase can occasionally take with some property solicitors. Even a basic freehold trade or acquisition with no chain, can take what seems like several months and this will frequently lead to to nightmare transaction and stress for all parties.
There are number of reasons why this happens, and I will look at each one in turn.
1. Poor Contact: - This can arise from either of the parties to the conveyancing transaction, i.e. estate agents, mortgage brokers, lenders or even the buyer or seller themselves. Especially when there is a group associated, if all parties do not connect and keep each other in the loop then there will always be one party playing catch up, which can create all sorts of delays.
2. Funding Problems: - with there being a reduction in mortgages being allowed at the moment, this can create delays in conveyancing transactions regardless of whether there is a string involved. There can be problems acquiring a mortgage where a customer has steamed in and made an offer without the same being finalised and this can also be related to costs and deposit monies.
3. Synchronising a Sale & Contract: - it is often the case, that a seller will find their dream dwelling before any offers have been produced on their current home. This will stem to the purchase beginning ahead of the trade. If this occurs, you will often find that those throughout the group are in a related position and may be either trailing or in front of them. If this happens, it can be complicated to synchronise all matters and get them at a similar point.
4. Search Delays & Surveys: - With conveyancing picking up, it is most likely that there will be increased persons instructing local searches from local authorities. This can result in to a back log and delays on this end will transfer to other areas of the conveyancing undertaking. A survey may also create delays with regards to access being planned and reports being planned analysed and works carried out where demanded.
5. Other breaks in the Chain: - Even with a small chain, any problem in any part of the chain will bring about delays to your peculiar contract. For example if a sale or purchase falls through it will be as if you are back to square one. Any of the problems discussed above can lead to this either if your solicitor has done everything they can to get things through - it may be out of their hands.
In most scenarios, there is little that can be effected to hurry things up by the property solicitors. As in most scenarios it is normally through no fault of your solicitor's but instead due to delays somewhere else in the chain.
There are a few things that can be done to hurry up the process and make the contract a bit less stressful, these include: adequate communication; funds being in place as soon as viable; all documentations being made accessible at the earliest possibility and clear contact between the chain.
Generally the estate agents are the simplest approach to chase things up and their skills at this should be used more frequently by property solicitors.
Author Resource:
We at Havillands & Co. Solicitors are a national conveyancing centre with expertise in providing residential and commercial conveyancing. Our property solicitors have over 40 years of experience on all aspects of conveyancing and property law.
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