If you’ve just had a mortgage offer issued and found your dream home, there is still a lot of legal work to do – known as conveyancing. It is essential before you can move in and can take up to 12 weeks. There are a number of things that can cause delays, including the length of property chains and the availability of documentation.
This is when your conveyancer will check the title deeds and complete a variety of local searches (depending on where you’re buying) and surveys. They will also ask the seller’s solicitor for details of any outstanding mortgages and secured debts to make sure these are cleared prior to completion. Once everything has been checked and approved by the lender, your draft contract will be sent to the buyer’s conveyancer. The buyer will then need to send their deposit to the seller’s solicitor and agree a completion date. For advice on Cheltenham Conveyancing, visit a site like montpellier.legal/conveyancing-solicitor/conveyancing-cheltenham
There can be lots of things that delay the exchange of contracts and completion. Often it’s because one or other side hasn’t been responding promptly to enquiries from their conveyancer and estate agent. You can help speed this up by ensuring you respond to any requests as soon as possible and asking for regular updates from your conveyancer and estate agent. By following the steps above, you should be on track for a smooth completion and before long you’ll be testing out paint colours in your new pad!
