Moving House? 5 Common Factors That Cause Delays
Moving house can be an exciting yet challenging experience. Understanding the common pitfalls can help you navigate your move more smoothly.
1. Inefficient Communication
Effective communication between all parties involved is crucial. This includes buyers, sellers, estate agents, mortgage lenders, and solicitors. Delays often occur when there is a breakdown in communication or when one party is slow to respond. Ensuring everyone is promptly informed and responsive can significantly expedite the process.
2. Mortgage Approval Issues
Obtaining a mortgage can be a time-consuming process. Issues such as incomplete documentation, slow responses from mortgage lenders, or changes in a buyer's financial situation can cause significant delays. To avoid this, ensure that all required paperwork is complete and submitted promptly and maintain clear communication with your mortgage advisor.
3. Survey and Valuation Delays
A property survey is a critical step in the buying process, providing valuable insights into the property's condition. Scheduling delays or disagreements over the survey’s findings can slow things down. To mitigate this, book your survey as early as possible and be prepared to negotiate repairs or price adjustments if needed.
4. Chain Dependencies
Many property transactions are part of a chain, meaning the sale of one property is dependent on the sale of another. If one link in the chain experiences delays, it can impact the entire sequence of transactions. Minimizing the chain’s length and maintaining clear communication with all parties can help reduce the risk of delays.
5. Legal Complications
Legal issues such as missing documents, disputes over property boundaries, or problems discovered during the title search can cause significant delays. Engaging a competent conveyancer early in the process can help identify and resolve potential legal issues before they become problematic.
Conclusion
Moving house is a complex process with many potential pitfalls. Efficient communication, early mortgage application, timely surveys, managing chain dependencies, and engaging with legal issues promptly are key strategies to ensure a smoother and more efficient move. As always, working closely with a knowledgeable conveyancer can make a world of difference in navigating these challenges.
For more information on our conveyancing services, please call our expert property team on 01206574431 or email info@tsplegal.com.
This article was originally produced for the EADT.