Conveyancing delays can be a real hassle for any property transaction; unfortunately, delays are common. From legal issues to administrative errors, there are various reasons why your conveyancing process may take longer than expected.
From solicitors being overworked to lenders taking too long to process applications, understanding the causes of your conveyancing delay can help you make the best decisions for your situation. In this article, we’ll take a look at the most common causes of conveyancing delays and how to avoid them.
Taking the Time to Instruct Solicitors
One of the most common causes of conveyancing delays is the time it takes to instruct solicitors. It can take a few days to several weeks to find a suitable solicitor, get a quote and sign a contract. It’s important to take the time to find a reputable solicitor that is experienced in dealing with your type of property transaction.
Information on Leasehold Properties is not Submitted Promptly from Management Companies
If you are purchasing a leasehold property, there are a number of documents that the management company must provide. These documents can take a long time to be provided, causing delays in the conveyancing process. It’s important to ensure that the management company is aware of the necessary documentation and that you keep track of the progress.
Questions from Solicitors to Third Parties are Slow in Getting Answered
The conveyancing process involves a lot of paperwork, and there are often questions that need to be answered by third parties such as local authorities and utility companies. These questions can take a long time to be answered, resulting in delays in the conveyancing process. It’s important to keep track of these questions' progress and ensure that they are answered on time.
Local Authority Searches are Taking Too Long
Local authority searches are an important part of the conveyancing process. These searches provide information on the local area and any potential planning issues. These searches must be carried out in a timely manner to ensure the conveyancing process is smooth. It’s important to ensure that your solicitor is aware of the necessary searches and can carry them out promptly.
Chain Difficulties
Conveyancing can be complicated when a chain of buyers and sellers is involved. This is because all parties need to exchange contracts simultaneously, and if one party is still being prepared, this can hold up the process for everyone else. It’s important to ensure that all parties are aware of any deadlines and that they are prepared to exchange contracts in a timely manner.
Inaccurate Property Information
Inaccurate information about a property can cause delays in the conveyancing process. It’s important to ensure that all information relating to the property is accurate before the process begins. This includes title deeds, planning permission and building regulations.
Lack of Staff
If the conveyancing firm does not have enough staff to handle the workload, this can cause delays in the process. It’s important to ensure that the firm is adequately staffed and that they have enough experience to handle the workload.
Unclear Instructions
If the instructions given by the buyer or seller are unclear, this can cause delays in the conveyancing process. It’s important to ensure that all instructions are clear and communicated in a timely manner.
Not Declaring Gifted Deposits or Source and Origin of Funds Right Away
If a buyer is using gifted funds or funds from an unusual source, they must declare this to the conveyancer right away. This is to ensure that the funds are legitimate and to protect the buyer and seller from any legal implications. If this is not declared right away, it can cause delays in the process.
Not Completing Pre-Contract Enquiries
Before contracts are exchanged, the conveyancer must complete all relevant pre-contract enquiries. These enquiries help to ensure that there are no potential issues that could cause delays or problems in the future. If these enquiries are not completed, it can cause delays in the process.
Not Having All the Necessary Documentation
All the necessary documents must be provided to the conveyancer. This includes proof of identity, proof of address, proof of funds and other relevant documents. If these documents are not provided, it can cause delays in the process.
Inadequate Insurance
If the buyer or seller does not have adequate insurance, this can cause delays in the conveyancing process. It’s important to ensure that all insurance policies are in place and up to date before the process begins.
Lack of Communication
If the parties involved in the conveyancing process do not communicate effectively, this can cause delays. It’s important to ensure that all parties are informed of any developments and communicate regularly.
How to Ensure a Fast Conveyancing Process
1. Get Sufficient Mortgage Approval
It’s important to ensure that you have the necessary mortgage approval in place before you begin the conveyancing process. This will help to speed up the process as it will prevent any delays due to the need to secure financing.
2. Ensure All Documents are Ready
Making sure that you have all the necessary documents ready will help to speed up the conveyancing process. This includes any property deeds, title deeds, mortgage documents and other related documents.
3. Choose an Experienced Conveyancer
Choosing an experienced conveyancer will help to ensure that the process is completed as quickly as possible. An experienced conveyancer will be familiar with the process and will be able to identify any potential delays or obstacles before they arise.
4. Communicate Regularly with All Parties
Ensuring that there is regular communication between all parties involved in the conveyancing process will help to ensure that the process is completed as quickly as possible. This includes the buyer, seller, conveyancer and any other parties involved.
5. Ensure All Insurance Policies are in Place
Making sure that all insurance policies are in place and up to date before the conveyancing process begins will help to speed up the process. This includes any life insurance, buy-to-let insurance or other relevant policies.
What are the Risks of Not Using a Conveyancing Firm?
Not using a conveyancing firm means that you will not have access to professional advice. This means that you may need to be made aware of any potential legal issues that could arise during the process, which could cause delays or problems further down the line.
Also, without the help of a professional, you may lack the knowledge required to complete the process correctly. This could lead to mistakes being made which could be costly to rectify.
The Bottomline
It is essential to keep track of the multiple factors and steps involved in the conveyancing process. By understanding the underlying reasons for conveyancing delays and acting proactively to tackle them, you can ensure the overall conveyancing process runs as smoothly and quickly as possible. With the help of a professional conveyancer, you can reduce the chances of delays and keep your conveyancing on track.
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