Often when buying property, it is the conveyancing stage that has the most holdups. This can be frustrating as a buyer if you need the property transfer to be completed quickly. The average transfer takes between eight and twelve weeks, which is too long for many buyers. We’re sharing some tips on how to speed up the conveyancing process as much as possible so that you’re not left waiting a long time.
- Limiting Factors
Be aware from the offset, that when buying a property there are many factors beyond your control. This means that no matter what you do to try and hurry the process along, you might be met with several delays that you cannot manage yourself. These factors may include waiting on mortgage lenders, the other side’s conveyancer, or issues further down the chain. However, there are still many things you can do as a buyer to ensure the sale goes through as quickly as possible.
- Have Your Finances In Order
The fastest way of completing a property transfer is to be a cash buyer. However, this is not always possible, and so if you are going to be getting a mortgage and hoping for a fast completion, then you should let your lender know. You should tell them about your deadline and ask if they will be able to meet it. If they are not able to meet it, then you can switch to another lender that can comply.
- Complete All Identification Documents And Pay For Your Searches As Quickly As Possible
Make sure that when you instruct your conveyancer to start the proceedings, you have provided them with certified identification, and this will mean no unnecessary holdups later on. Also, pay for all your searches upfront and then confirm exactly when you want them submitted (e.g. after survey results or mortgage offers). This should keep the process moving along, with no unnecessary delays.
- Do Not Delay Submitting Enquiries To The Seller
During the property sale, once the contract has been received by your lawyer, they will submit enquiries to the buyer and their lawyer. If you have any specific enquiries you want to ask the seller, try to get these to them as soon as possible as they may need some time to reply. Some supporting documentation may also be required, so submit your enquiries as early as possible to not waste time.
- Provide Your Signed Documentation To Your Lawyer In Advance
There is a lot of paperwork in the property transfer process that will require your signature, including the contract, mortgage deed, and transfer deed. Get these signed and sent to your lawyer as early as possible in order to limit delays. Take note that conveyancers or solicitors will only be able to accept signed originals of most of these documents, so get them signed and posted early.
- Hire The Right Conveyancers To Speed Things Along
It can be frustrating waiting for things to move along if you’re a buyer in a hurry, which is why there are experts that offer their customers extra help when they are looking for a speedy sale. Check out Brisbane based River City Conveyancing for help with chasing aspects of:
– The sale contract
– Search results
– Answers to enquiries
– Contacting and chasing the seller’s solicitor, agent, and even the seller personally
If you’re looking for a swift sale, then there are certain things you can do to speed up the process, but ultimately there are some things out of your control, and managing that means hiring the right conveyancer to limit the delays as much as possible.