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Smooth Sailing: Make Your House Move Stress-Free
3 September, 2024 5 minutes reading time
Buying or selling a property is exciting, but the conveyancing process can sometimes throw a few curveballs. Pitfalls can still arise along the way, even when everything looks straightforward. An experienced property lawyer will ensure all legal aspects are handled correctly and on time. They will do everything possible to ensure the transaction runs smoothly for you. However, from time to time, conveyancing problems do pop up. So, it pays to be prepared so you can take the necessary steps to avoid them where possible.
Here, we look at some of these common issues and explore how to navigate them successfully.
1. Not Instructing a Legal Professional Soon Enough
Delaying the instruction of a legal professional can lead to missed deadlines, rushed decision-making, and potential complications at a later stage. We strongly recommend you take proactive steps and instruct specialist lawyers when your offer is accepted. This early action is vital to being prepared and can help avoid delays. Your lawyer will need proof of ID and address at the outset, so having this ready will further expedite the process.
2. Delays in Obtaining Documents
Missing paperwork, slow responses from third parties (like lenders or management companies), or local authority searches taking longer than expected can all cause frustrating delays. Be organised and gather all the necessary documents as soon as you can. Maintain regular communication with your lawyer and respond promptly to any requests for information. Also, instructing your lawyer to start local authority searches as soon as possible can help the process move quickly, keeping you reassured and informed.
3. Issues with Property Title
Unexpected restrictions, covenants, or disputes about property boundaries can cause complications and delays. An experienced lawyer will conduct comprehensive title searches and raise any concerns with you early in the process. They will address any title issues with the seller’s lawyers and explain the implications for you.
4. Problems with Surveys and Property Condition
One essential element of the conveyancing process is the instruction of professional surveys and searches on the property in question. A survey might reveal unexpected structural issues or other defects not apparent during viewings. It’s advisable to get a comprehensive survey, even if the property seems to be in good condition. If the survey uncovers significant issues, discussing options with the seller, such as negotiating repairs or a price reduction, is crucial. If you have specific concerns, consider additional surveys (e.g., damp or timber surveys) to clearly understand what you’re dealing with.
5. Issues with the Chain
Delays or complications further up or down the property chain can have a domino effect on your transaction. It’s crucial to stay informed about the progress of other parties in the chain. Be prepared to be flexible and maintain open communication with all parties. This open dialogue can help prevent misunderstandings and keep the transaction moving. In extreme cases, explore options like bridging finance or ‘chain repair’ services, which are designed to help resolve issues within the property chain, such as a party pulling out or delays in their transaction, to keep your transaction moving.
6. Gazumping and Gazundering
- Gazumping occurs when a seller accepts a higher offer from another buyer after already accepting your offer.
- Gazundering is when a buyer lowers their offer just before exchanging contracts, hoping the seller will accept to avoid further delays.
While these situations can be stressful, open communication with your lawyer and estate agent, being prepared to act decisively, and exploring options like lock-out agreements, which prevent the seller from accepting other offers for a specified period, can help mitigate the risks.
7. Property Fraud
Unfortunately, property fraud is on the increase. These crimes can involve the theft of identity documents, impersonating solicitors, or intercepting communications between the parties involved. The large sums of money involved in transactions can result in significant financial loss.
Experienced lawyers ensure all necessary checks are done, including Anti-Money Laundering Checks. They identify any red flags, offering peace of mind. In addition to professional assistance throughout the conveyancing process, don’t trust unsolicited communication. Never disclose any personal information online, and always verify the identity of other parties involved.
8. Changes in Personal Circumstances
Unexpected events like job loss, relationship breakdown, or illness can affect your ability to proceed with the transaction. It’s essential to be prepared for such situations. Inform your lawyer immediately of any changes in your circumstances. Discuss alternative solutions with them so you can make an informed decision.
Our Advice
Conveying property doesn’t have to be a headache. With professional legal support and proactive planning, you can navigate the process smoothly and achieve a successful property transaction. Since the 1970s, our practice has helped many families and individuals complete the sale or purchase of their homes with minimal disruptions or delays.
We offer a full range of conveyancing services, including buying and selling a property, equity release, tenancy agreements, freehold reversions, and lease extensions. Please get in touch for further information or advice about buying or selling a property or any other property matter. We’re here to help.
Please note that all views, comments or opinions expressed are for information only and do not constitute and should not be interpreted as being comprehensive or as giving legal advice. No one should seek to rely or act upon, or refrain from acting upon, the views, comments or opinions expressed herein without first obtaining specialist, professional or independent advice. While every effort has been made to ensure accuracy, Curtis Parkinson cannot be held liable for any errors, omissions or inaccuracies.