With the volumes of property purchases going through at the moment, it’s not surprising that there are a few bottlenecks along the way. If you’re buying a property through us, firstly, congratulation! We have a Sales Progression team dedicated to progressing your purchase now that your offer has been accepted.
I asked Hanan, our Head of Sales Progression, what you could do as a buyer to help speed up the process. She did explain that all of the things listed here would be relevant during any purchase but are particularly relevant if you’re trying to meet the stamp duty deadline.
Instruct your solicitor/conveyancer as soon as possible.
If you don’t have one, you can take a look at our recommended one. Please do encourage them to keep your agent informed. If you’re buying through us, Hanan’s team will chase them for updates and quick responses to those requests would be really helpful.
Action their requests.
You will be sent questions by your solicitor/conveyancer and the sooner you respond to those the better. You don’t want to be the cause of any delays.
Chase the draft contract.
After the ‘Memorandums of Sale’ have been sent out, check with your solicitor/conveyancer to ensure that a draft contract has been received.
Keep us posted.
It’s important that you inform us when your solicitor has received enquiries or replied to enquiries as a lot of the time these may be sat idle without any action taking place. We’ll stay on top of those for you.
Fund the searches.
Ensure your solicitor/conveyancer has your funds to enable them to apply for your searches. If possible, ask for these searches to be done straightaway to avoid delay. It’s worth exploring a search indemnity policy to enable you to exchange without them. Do ensure your lender would accept this before you proceed.
Proof of funds.
If this purchase involved gifted monies (e.g. bank of mum and dad), do discuss this with solicitor from the start. Proof will be required and this, surprisingly, can take some time.
Monies at the ready.
Make you have your money ready and transferred for exchange. Sometimes a bank won’t allow you to transfer large sums electronically and you may need to go to your branch. A quick call to your bank should answer this for you. If your funds are coming out of an account where notice is required, do ensure you’ve given that.
Sign the contract.
Get these signed as soon as possible so this doesn’t hold up your exchange.
Timing it right.
If you’re currently renting and need to give notice, find out how much notice and discuss the timings with your solicitor/conveyancer.
Good luck with your purchase!