Showing posts with label conveyancing. Show all posts
Showing posts with label conveyancing. Show all posts

Monday, 24 January 2011

Property Solicitors - Why Conveyancing Transactions Take So Long To Complete

Property solicitors provide specialised advice and assistance with all conveyancing transactions and must be appointed in any transfer of legal title for conveyancing quotes.

Once you have received your conveyancing quotes and instructed property solicitors, transactions on average should take between 4 to 6 weeks for a straight forward freehold sale or purchase. A straight forward leasehold sale purchase will usually take a little longer due to the additional issues, which requite the attention of the property solicitors, however on average these would take between 6 to 8 weeks.

One of the most frustrating parts conveyancing is how long the transaction can sometimes take with some property solicitors. Even a straightforward freehold sale or purchase with no chain, can take what seems like months.

There are a number of reasons why this happens, such as:

  1. Poor Communication: - From any of the parties to the conveyancing transaction.

  1.  Funding Problems: - The reduction in mortgages being granted can cause delays regardless of whether there is a chain involved, cheap conveyancing quotes.

  1. Synchronising a Sale & Purchase: - this is always difficult.

  1. Search Delays & Surveys.

  1. Other breaks in the Chain: - Even with a small chain, any problem in the chain will cause delays.

In most cases, there is little can be done to speed things up by the conveyancing solicitor as the issue itself is usually out of their hands.

There are a few things that can be done to speed up the process and make the transaction a little less stressful, these include: sufficient communication; funds being in place as early as possible; all documentations being made available at the earliest opportunity and simple communication throughout the chain.

Usually the estate agents are the easiest way to chase things up and their skills at this should be used more often by property solicitors.