With the end of the year rapidly approaching, the focus for many in the UK property market shifts towards getting a move over the line before the holiday season. This sense of urgency applies equally to homebuyers looking to move, and businesses seeking to complete on a commercial property.
A house or commercial purchase, or taking out a commercial lease, is a major commitment. Getting every detail right is essential for a smooth and swift process.
Even with professional help, some common issues can cause delays. Here are six potential ‘trip hazards’ to be aware of in the conveyancing process.
1. Provide the Correct ID
Your ID is a crucial part of the conveyancing process. Most solicitors use a third-party app to check this, but you can also go to their office in person. You will need a valid photo ID, such as a passport or driver’s licence. Be aware that photocopies are not accepted.
2. Instruct your conveyancer early
Don’t wait until you’ve made an offer. Start looking for a solicitor as soon as you begin house-hunting or put your property on the market. This ensures you can secure a quality, specialised firm and aren’t under pressure to find one at the last minute.
3. Carefully complete paperwork
Conveyancing involves essential paperwork. Take your time to read everything carefully. Make sure you understand the forms, and then sign and date them in all the correct places. Even minor mistakes can cause significant delays.
4. Avoiding gazumping
Gazumping is when a seller accepts your offer but then takes a higher one from another buyer. To avoid this, ask the seller and their estate agent to take the property off the market once your offer has been accepted.
5. Be prepared for chain complications
If a property chain falls apart, delays are likely. An experienced conveyancer will keep you updated and manage your expectations, so you know what realistic moving dates to aim for.
6. Address missing title deeds
All UK property deeds should be registered with HM Land Registry. If deeds are missing, it can cause a delay while they are recreated. If the property is unregistered, it won’t necessarily cause a holdup; the buyer’s solicitor will simply submit an application for first registration upon completion.
By following this advice, you can help prevent common issues before they occur and keep your property-buying journey moving forward.
If you are looking for a specialist residential or commercial property conveyancing team, why not get in touch with Optimum? We help home buyers and sellers, as well as businesses looking for new premises, across the UK (with the exception of Scotland).
