Conveyancing Tips 

Claire Dagger

Residential Property Conveyancer

 

If you have a family member helping you with the deposit, this will need to be evidenced and reported to your lender if you have a mortgage  – make sure you get this ready and report to your lender at the application stage as well

If you are selling and want to avoid delays, organise all of your property-related paperwork such as heating system electrical installations and testing certificates at the very outset

If you are buying with a mortgage get ahead of the game and get an agreement in principle before you start your property search.   Some agents will want to see that you have a mortgage agreed in principle before they accept your offer

All clients are required to supply their ID and proof of address, usually a utility bill or bank statement dated within the last 3 months. If the clients are selling the property and it is unregistered they must provide us with, or the authority to obtain, the title deeds to the property, and any other relevant documentation to the property. Sellers will be given forms to complete and depending on their answers the form will indicate the additional documentation required. If the clients are purchasing a property they will need to provide us with evidence to demonstrate their source of funds, we detail the acceptable documents once we know where the funds are coming from. There may be additional paperwork required and the Conveyancer will review this on a case-by-case basis.

When people embark on a house move, many believe that if all parties are willing, it should take place relatively quickly and easily. Unfortunately, there are numerous stumbling blocks that can delay the transaction, ranging from the buyer or vendor being slow to respond to information requests, to conveyancing searches revealing potential issues. These tips should assist first-time buyers in ensuring that the conveyancing process runs smoothly:

• Have your mortgage in place before you find your home.

Knowing how much you have available to borrow and arranging a mortgage in principle means that once an offer has been accepted you can get on with the legalities. Applying for a mortgage can bring a whole host of problems in itself, so arranging this in advance can really help. Our advice would be to decide how much you can afford to borrow, secure the agreement and then find the property.

• Use estate agents rather than trying to go it alone.

It can be tempting to try going it alone if you’re thinking of the money you could save, but a good estate agent will also act as a go-between for buyer and seller, smoothing the waters when things get choppy, advising on unforeseen problems, and help to ensure a smooth transaction.

• Fill in forms promptly and accurately.

The quicker you can respond to requests for information, the quicker your agent and solicitor will be able to move on to the next stage of the process. It is also important to complete forms as carefully and accurately as possible in order to avoid mistakes that will then use up valuable time being identified and rectified.

• Stay on top of the process.

There are a lot of elements to pull together in the house-buying process and it can be easy to lose track of where you’re up to. It’s important to know how each stage is progressing and to stay on top of what can be a long and confusing process. If one element seems to be slowing things down, find out why and whether there’s anything you could be doing to speed things up.

• Prepare your finances.

There are bound to be times during the move when you’ll feel like there are constant demands for your cash. Be prepared that there will be lots of fees to pay for – so you’ll need to have money available.