There are many reasons why your conveyancing could stall, but some crop up more often than others. When you understand what those reasons are, you can take steps to prevent them from causing delays in your property transaction. Here are the five most common causes of delays and how to avoid them.
Common Cause #1: Missed Appointments
One of the most common causes of delays in conveyancing is when appointments are missed. This can be for a variety of reasons, such as double-booking or forgetting altogether. To avoid this, make sure you have a clear schedule of when appointments are and stick to it. You can also set reminders in your phone or calendar.
Common Cause #2: Missing Documentation
One common cause of delays is missing documentation. Your solicitors in chester will need certain documents in order to proceed with your transaction, so it’s important to make sure you provide everything that’s needed. If you’re not sure what’s required, just ask – your solicitor will be happy to help.
Common Cause #3: Disagreement on Price
One common cause of delays in conveyancing is disagreement on price. If you and the seller can’t agree on a price, it can hold up the entire process. The best way to avoid this is to be realistic about your budget and what you’re willing to pay for the property. Be sure to do your research so you know what the property is worth and what similar properties have sold for in the past. This will help you negotiate a fair price with the seller.
Common Cause #4: Premature Application
If you’ve found your dream home and are eager to put in an offer, it’s important to avoid rushing into things. Applying for a mortgage before your finances have been fully assessed could lead to delays down the line. Work with a mortgage broker to get pre-approval so you know exactly how much you can afford to spend.
Common Cause #5: Multiple Searches
One of the most common causes of delays in conveyancing is when multiple searches are required. This can happen when a property is located in more than one local authority area, or if there are several environmental searches that need to be carried out. To avoid this, make sure you provide your conveyancing solicitor with all the relevant information about the property upfront.