The Community Secretary, Sajid Javid, wants to make the conveyancing process “cheaper, faster and less stressful”. He has announced a consultation and has called for views on how to improve the current system.
This is a timely reminder that there are steps that can be undertaken by a seller to try and ensure a smooth and speedy path to exchange and here are our top five tips for doing so:-
1. Instruct us at the same time as you put your property on the market. This will enable us to open a file, send you the Terms and Conditions for signature as well as the property questionnaire forms for completion. It will also allow us to undertake the verification of your identity at an early stage.
2. As the property goes onto the market, send us copies of planning consents and Building Regulation Compliance Certificates together with copies of any guarantees in respect of any work that has been carried out at the property.
3. If you are selling a flat, we would recommend that as the property goes onto the market, that we apply to the managing agents for an assignment pack that will contain all of the information the buyers will require in connection with the management of the building.
4. If you are selling the property that is situated in a local authority where Local Authority Searches are taking a long time to process, it might be worth considering instructing us to order a Local Authority Search which could then be sold onto the buyers provided it hasn’t expired by the time exchange happens.
5. If you are selling a flat and the lease requires the freeholder’s consent for the property to be sold (a Licence to Assign), it is worth contacting the freeholders at an early stage to see what their requirements are in terms of costs and references.