Are you thinking about buying or selling a property soon? If you've already been through the process before, you'll know that it can be a time-intensive process. If this is your first time, then you may have heard it. In general, the more organized you can be and the more quickly you can get started, the better.
The housing market has been slow since the economic bubble burst in 2008, but as of 2019, it has slowly been showing signs of improving again. Hometrack, the independent market researcher, found that the number of people registering to buy with real estate agents increased by 18% in the last year, which is the highest increase in ten years. This means the buyer market is slowly beginning to gain traction again, which is great news for sellers in particular.
If you're thinking about selling, you'll most likely be trying to find ways to make the process as stress-free and as quick as possible. Many people hear horror stories about someone trying to sell a house and taking months to years for the whole process to happen.
One of the main things slowing the process down is inevitably the paperwork and admin associated with selling a house. This then leads to added stress and anxiety, as you'll necessarily want to try to sell the house to either buy a new property or to get access to the funds tied up in it.
How do you speed things up?
The first thing to think about is when you instruct your solicitor on conveyance to start their process of surveying the property. Many people leave this until they have someone ready to buy the house, but this is one of the steps that takes the most time in practice. If you instruct your conveyancing company or solicitor before you put your house on the market, this will speed things up considerably. Try to find a solicitor like Logan Law. On the other hand, you can ask close friends or colleagues you trust who they have used that have had smooth-selling experiences.
If you're able to instruct the solicitor in advance, you'll be able to get all the paperwork in order well before an offer comes in. This means you won't have to deal with the headache of it, while you're also anxious about organizing the rest of the sale. This is especially true if the property you're trying to sell is leasehold, as there are many more people and stakeholders involved compared to a freehold property.
The main thing that may put you off instructing your solicitor before an agreement has been made is the price. You won't want to start spending money before you know that you can definitely sell the property. In recent years, solicitors have begun to work on a ‘no move, no fee' policy, which means you won't be charged until a sale goes through. This will save you from losing out on any payments if it takes time to find a suitable seller.
Published by Inder Singh