We might be in the middle of July with the hottest temperatures on record, but did you know it’s only 153 days until Christmas Day? If you think it’s too soon to mention it, bear with us!
The average home sale is currently taking 171 days from offer to completion, with chains suffering from legal delays, overstretched conveyancers and expiring mortgage offers. Nonetheless, many sales can proceed much faster than they do, so you could still be decking the halls in your new home this year.
Chains are a normal and integral part of the moving process as people scale the property ladder toward their forever home. They’re not to be feared, but chains are only as strong as their weakest link.
So whether you’re planning to sell, already on the market or your sale is stuck on hold, this week’s blog is full of solutions to setbacks to keep your move together.
One thing you have complete control over when selling your home is how quickly you appoint a solicitor and how soon you supply them with all the information they need.
So, as soon as your home hits the market:
By doing all this while your home is for sale, your solicitor should be ready to send out a draft contract pack as soon as you accept an offer, potentially shaving weeks off the conveyancing process.
Given the current logjam in conveyancing times, it’s worth digging deeper into where things stand with each link in any chain you get involved with.
Time is precious right now, and some extra investigation could help you avoid a sluggish chain and find a well-oiled one instead.
Before you appoint a solicitor, it’s worth checking a few things out to ensure you don’t get lost in the crowd at an overworked firm.
Even if they have a glowing recommendation from the past experience of friends, family or your agent, don’t be shy to ask about:
Having the right conveyancer by your side is an invaluable asset. They can add noticeable speed, efficiency and responsiveness to your sale, particularly when their business model gives them the time to stay on the case.
With the time to completion now the longest on record – yes, even higher than during the boom – some mortgage offers are expiring before sales are ready to exchange contracts.
With changing interest rates, it can be frustrating to lose your deal, so it’s wise to explore the flexibility of lenders.
Don’t wait until your mortgage offer runs out to approach your lender - you’re far more likely to get a positive response while your deal is still valid.
Delays are the devil in moving home, and they can open the gates to people having second thoughts over their choice of property or the price they’re paying.
But… your move CAN survive, and a conversation can often help someone avoid a snap decision they’ll later regret.
Among the many things your agent can talk to your buyer about are:
There’s usually a compromise to find somewhere, and here’s where a great agent can truly save the day. And remember, if you do have to part ways with your buyer, there are many more waiting in the wings to get your move back on track before long.
What’s your next step?
Do you have plans to move home before the end of the year? Identifying and removing possible obstacles is one of the most valuable qualities your estate agent can have, andwe’d love to help you set your move up for the smoothest possible ride.
If you’re thinking of selling your home in the Wilton & Salisbury area or you’d like some tips to inject momentum back into your sale, call us on 01722 580059 or send us a message to firstname.lastname@example.org - let’s talk about your move!
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