Sellers and buyers always aim to seal the deal as quickly as possible; however, things can grind to a halt. Even seasoned home-movers can't always avoid hurdles when it comes to exchanging contracts.
If lucky, time between an offer being accepted and exchanged could take as quickly as six weeks - in England and Wales, at least. But, if things don't go as smoothly, it can stretch to months, and you would not want that.
To ensure that you only swift through the final hurdle of closing a contract, here are five sure-fire hacks as listed by The Daily Mail UK:
Choose a top-notch solicitor
Your chosen solicitor could greatly affect how things will turn out. For more success, ask friends or colleagues for efficient firms with a respectable reputation with fast turnarounds. If you can't get recommendations, turn to customer reviews on reputable websites that allow you to search for solicitors in your area such as www.vouchedfor.co.uk. Those with stellar record should be easy to find through feedback and ratings.
Choose a solicitor who is a member of a recognized organization like Law Society and a conveyancer who is part of Council for Licensed Conveyancers.
Online Conveyancing
Cut down on having to chase your solicitor for progress on the contract. Use a system that will make communication easier among individuals involved in the deal such as an online portal called Veyo (veyo.co.uk). A system like such allows conveyancers to log all important updates related to the sale or contract and make them easily accessible online anytime. There are features that allow users to track progress as well as use diary reminders.
Fast track finances
Avoid slowing down by applying for mortgage before finding a property. Lenders have different criteria and finding the one that suits your circumstance can definitely contribute to a faster transaction.
This is when you can really use help from a broker. 'Use an independent mortgage broker who will know which lenders are slow on service so you can avoid those if you are in a hurry,' Jonathan Harris, director of mortgage broker Anderson Harris suggests. 'A broker will also help you collate all the information the lender requires to ensure your application is processed without delay,' he adds.
Chase up paperwork
Being equipped and ready paperwork wise is sure to help speed up the finance side of things. Know which documents you need to and have them ready; make multiple copies to avoid delays of having to acquire or print them again.
The safest approach is to assume that all paperwork that has to do with your financial history, your current IDs, certifications, are needed so you already have them with you in case you need to provide them.
Put the pressure on
Don't rely on people to work hard for you on your behalf. Make sure that you stay on top of things from checking the valuation to your mortgage offer. Fill up all paperwork at your end pronto and have cash ready to pay for transaction costs, whether big or small.
Most of all, make sure you can be easily reached to supply lacking information or to sign documents.
