And get ahead of the moving game
It’s often said that moving home is one of the most stressful things in life – but there is a way to make it a little easier.
If you’re looking to sell your home, you may have started packing the boxes and thinking about new colour schemes, but are you really ‘sale ready’ with your current home? Missing paperwork and unresolved legal issues could all add up to delays, but if you take up a pre-sale legal service to make sure everything’s in order it can speed things up and reduce the risk of your house sale falling through. As part of their Residential Property offering, our Residential Property Team has recently relaunched their Sale Ready Legal Pack to make sure you’re ahead of the moving game.
Associate and Team Leader, Pippa Woodcock answered some questions on how a Sale Ready Legal Pack can help.
“Getting ahead of the process gives you an element of control. Traditionally the legal work begins only after an offer is accepted – that means issues are discovered during the conveyancing process which can cause delay. Significant issues could lead to a sale stalling or even falling through. Sale Ready means that legal documents are already prepared and presented to a potential buyer including details of any restrictive covenants. Missing documentation can be obtained meaning that a buyer can proceed immediately.”
What sort of things would you check for and how can you help?
“As conveyancers our role is to investigate and prepare everything a buyer’s solicitor will need. This would typically include title documents, planning and building regulations documentation, property information and fittings and contents forms, any guarantee or warranties, covenant consents where applicable, to name a few. As part of the process we would also identify and locate any missing documents early, resolve title defects and liaise with any relevant third parties such as management companies.”
Can you give any examples of how this service has proved invaluable?
“Sales of properties where a management company is involved often see lengthy delays where a management pack needs to be requested. Their average turnaround time is 2-4 weeks but frequently can take 6 weeks.”
“Missing building regulations certificates – where a seller completed an extension however a final inspection never took place.“
“The registered proprietor’s names shown on the legal title were misspelt or a middle name missing.“
“In each case the key benefit was simple, matters were able to be resolved meaning no surprises or delays once a buyer was found.”
Can it save people money in the long run?
“Yes, the cost of the pack is taken off the conveyancing fee once a buyer is found so there is no extra cost. However, this upfront cost can lead to savings by avoiding the risk of failed sales (and time in having to remarket), preventing last minute ‘urgent’ fixes which could be more expensive and by providing all information upfront it could also lead to saving by avoiding price renegotiations. A smoother, faster sale is not only less stressful but usually more cost-effective.”
What else might people need to consider when buying or selling?
“Whether buying or selling preparation is key. Chain awareness, documentation, market conditions, timelines are all important considerations. Communication is key, staying responsive to your conveyancer is essential. Getting your ID verified early as well as collating any relevant paperwork you have to provide to your conveyancer at the outset can make a big difference.“
“The traditional ‘wait until you find a buyer’ approach to conveyancing is becoming increasingly outdated. It can lead to delay and uncertainty at the worst possible moment – when everyone is wanting to move. The Sale Ready service changes that by shifting the work to the beginning of theprocess, where it belongs. From a conveyancer’s perspective it’s simple, the more prepared you are in advance, the smoother, less stressful and more successful your sale is likely to be.”
For further information on our Sale Ready service and how we can help you, please contact our Residential Property team today on 01733 882800 or email [email protected].
Pippa Woodcock, Associate & Team Leader
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