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CONVEYANCING TIMESCALES

Leanne Smith

 

by
Leanne Smith

One of the first questions we are always asked by clients is "How long will my transaction take?".

This is really the old proverbial "How long is a piece of string?" question, and the answer is always the same - it depends on the individual transaction as no two are ever quite the same. Unfortunately, you can only move as fast as the slowest person in the chain but 2-3 months is probably an average time.

The length of the chain and the efficiency of all parties within it are the main factors that make the difference but there are some things that you can do to help this process along:

  • It is essential to return all documents and information immediately.
  • Try to ensure that you supply us with all relevant information on day one. Basic details such as your current mortgage account numbers may seem obvious but it is surprising how many people forget them! Without these we cannot request your title deeds.
  • Make sure information supplied to the mortgage company is correct and current and be sure to return all forms speedily.

"We have learned to accept
that many other legal firms are
not as efficient or as well organised
as we are!"

If you are selling, then as soon as your title deeds arrive (we cannot do much without them!) a contract will be drawn up and sent to your purchaser's lawyers. The time it takes to receive a reply will depend on the conveyancer on the other side - some raise enquiries immediately while others wait for searches and mortgages to come in. We can chase, of course, but if you attempt to force another lawyer to move faster by pestering them every half hour, you may end up actually having the opposite effect to the one you are seeking!

Most purchases involve obtaining a Local Authority Search. On average these take about 2-4 weeks depending on the area and, at the present time, conveyancers are unable to vary this timescale. Once all councils are capable of doing these searches online it will greatly assist the process.

Leasehold transactions depend on management companies/landlords sending through essential documents and replies to enquiries. Therefore, if you have any relevant documentation please supply it to us at the outset, especially accounts for the last three years and recent receipts for service charges and ground rent.

Once all enquiries have been answered and all searches and mortgage offers received, the contracts will be sent out to you to be signed. Two weeks is the norm between exchange and completion to allow sufficient time for post exchange searches and enquiries to be dealt with, redemption figures to be received, money to be requested and cleared and, more importantly, to give you time to pack and prepare for the move.

One thing you can rely upon, our team will always do everything in their power to ensure that your transaction completes as soon as possible.

 

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