- November 25, 2022
- Posted by: Chowdhury Shahid Uz Zaman
- Categories: How to invest, Real Estate Investment
As there are many different moving parts within the conveyancing process, it can be a stressful and intimidating prospect. In addition to documentation to keep on top of, there are timelines to keep up with and a need to maintain open channels of communication with numerous professionals and other parties.
The complexities involved mean that issues do arise, which can cause friction and even throw off timelines that can have an impact on an entire chain of buyers and sellers. There are a number of errors that can prevent the conveyancing journey from running smoothly, so here is an overview of some of the most common pitfalls and how to avoid them.
1. There are unforeseen problems with the property
It’s not uncommon for surveys to highlight problems with the property that weren’t immediately apparent. There is very little that can be done until additional investigations have determined who will take responsibility for any remedial works that need to be completed and this could cause delays.
To ensure that these potential delays don’t go on for longer than they need to, you will find it beneficial to work with a reliable and experienced conveyancing solicitor who understands the intricacies of the process and how to keep things moving along as smoothly as possible.
2. The buyer and seller disagree on term conditions
Although in an ideal world, all parties would agree on everything, this is rarely the case. After an offer has been made and accepted, missives are exchanged by solicitors until both parties are on the same page. As there are often numerous term conditions to agree upon, delays here are common.
With experienced and knowledgeable legal representation, you will receive the best quality advice as to how to negotiate the terms in your favour. As this process is developing, your conveyancer can delve into all the transactional information to ensure you are in the best possible position to negotiate the best terms conditions.
3. There are issues with the paperwork
From incomplete forms to documents that have gone missing entirely, paperwork problems are one of the most common causes for delays in the conveyancing process. The quality of your legal representation really matters here, as they will ensure that every document is accounted for and properly filed and can help you keep on top of all communications.
It is critical to ensure all documentation is completed and filed in good time, particularly as Land Registry processing times can vary between several weeks and several months.
With complex laws to navigate and legal jargon to translate into actionable steps, conveyancing isn’t an easy process. In fact, even the most straightforward transactions can go awry because there are so many moving parts to keep track of. There are many instances where you might need fast conveyancing and in these situations working with a highly regarded conveyancer, such as the team at Sam Conveyancing is imperative.
The benefits of having experienced professionals on your side at every stage of the conveyancing process are numerous. Not only can delays cause frustration and heightened stress levels, in the worst cases they can lead to deals falling through, chains breaking and additional fees that may stretch your budget just that little bit too far.