Fast exchange preventative conveyancing including a search pledge should the transaction fail. Fees are only levied after the transaction completes. This means that neither the seller nor the buyer must pay anything until closing the deal.
What’s more?
When a property is advertised for sale, the seller should employ solicitors so that the basics can be done before offer acceptance stage. In this case, one team of solicitors will act for the vendor and prepare all of the sale documentation, while another set of solicitors will act for the Buyer. Both parties should focus on a fast exchange of contracts as this when the offer becomes binding and the deal becomes secure.
The concept of instructing solicitors as soon as a property is listed for sale is not new. Undoubtedly, the current conveyancing process is flawed and can lead to a failed sales transaction. The longer a transaction takes to complete, the more likely it could fail. Even with good deals, there can be a lot of anxiety and uncertainty. Fast Exchange property searches improve transaction times, reduces sales cancellations which has a directly impact on customer satisfaction.
By focusing onfast exchange conveyancing requirements, one can quickly get the best possible output.
5 Tips for Fast Conveyancing
1. Know the chain
The chain length has a significant effect on completing your conveyancing. If the number of people increases, the transition will be slow. Find out how many parties are involved in the property chain?
2. Get a mortgage offer
Due to the logistics of the mortgage application procedure and the mortgage lender’s additional regulatory requirements, cash purchasers can close faster than mortgage buyers. Learn how to get a mortgage offer quickly. Get your mortgage in place before you make an offer on a property.
3. Make sure the seller is ready
The buyer’s legal work can only begin once the seller has returned their property paperwork and their solicitor has issued contracts. Buyers feel annoyed when sellers take weeks to produce documentation to the solicitor. Sellers should return all papers to their solicitor as soon as feasible (which is why sellers should instruct their solicitor as soon as they start marketing their property).
4. Ordering a property search and survey should not be delayed
If you want to finish quickly, you may have to abandon the comfort of ticking off stages one by one and instead start all crucial phases:
- Inform your Property lawyer.
- A mortgage valuation;
- Order property searches (4 weeks for local authority searches); and
- Get a building survey
The mortgage lender will not provide you with a mortgage unless they have full knowledge on what the property is worth. Hence they will instruct a valuation.
If you are using a Homebuyer Solicitor via the Homebuyer Conveyancing comparison website, each purchase quote includes a search pledge. You can instruct that’s searches are carried out much earlier as you have protection should you need to pull out of the transaction through no fault of your own. Another set of searches are provided for Free for your replacement property.
5. Pick your lawyer carefully
Finding a conveyancing solicitor can be difficult; do you go online or go with the estate agent’s recommendation? The first point to remember is that no lawyer can guarantee a swift conveyancing transaction because they only control their work. They can’t persuade the seller, seller’s solicitor, mortgage lender, local council for searches, or property surveyor, much alone the other people in your chain outside of your sale and buy, even if they chase.
Wrap up
A conveyancing solicitor-based platform such as Homebuyer Conveyancing provides direct pricing from High Street Solicitors. You can browse the nationwide conveyancing quotes without entering your personal details. A no spam approach where you can find that all important approved Lender conveyancer by price and by location. Budget for your conveyancing and prepare a moving checklist. A fast exchange maybe possible as Homebuyer Solicitors have access to a faster property search process as some local Authorities take a long time processing their search requests.