The first signs of spring are starting to appear… daffodils are poking through the soil, the sun is shining a little bit more and what a joy it is to have lighter evenings again! It’s also a very exciting time to be selling your home, as traditionally Spring is one of the busiest times of year, especially if you own a lovely country home with gorgeous gardens. So now is the best time to be preparing your home for sale so that photographs can really emphasis them in their full glory.
However, once you have an offer accepted on your home, nothing is guaranteed until you exchange. The gap between exchange and completion is relatively small compared to pre-exchange, and although most buyers and sellers wish to exchange quickly, sometimes complications can arise which can make the process take months, causing a lot of unnecessary stress for everybody involved.
Here are some top tips on how to make the process between exchange and completion less painful this Spring…
If you’re unfamiliar with the term, exchange of contracts means when the buyer and the seller sign legal contracts, and the buyer pays a deposit. Once this has happened, everything becomes legally binding so nobody can back out of the transaction. Most people need to sell their own property first in order to pay the deposit, which can cause a delay – especially at the moment when buyers are struggling to find houses for sale. However, there are many other factors too. A good estate will of course be chasing things up on your behalf, but here’s a few things you can do to help you on your way too…
Use an excellent solicitor
Also referred to as a conveyancer, they will be your legal representative who deals with the transfer of property on your behalf. They are crucial to the whole process, so ask around for recommendations for firms known for their fast turnarounds.
Start your buying search asap
There’s still an inbalance between supply and demand, which is making it a lot harder for buyers to find houses because they are up against a lot of competition. Don’t leave your property search to the last minute. Start the process as soon as you possibly can, because one of the leading causes of delays is because the seller can’t find another house to buy.
Have a written mortgage in principle for your next property
If you’re buying something else, many estate agents will only work with proceedable buyers now due to how intense demand is, so start applying for a mortgage at the beginning of your search, if not before.
Be on top of paperwork
Various forms need to have been filled in. For example property information form, fixtures and contents form, necessary certificates and service reports I.e electrical certificates/boiler service report.
Book your removal company
Most removal companies are being booked out well in advance at the moment, so make sure you have yours arranged the moment you know your completion date. It may even be worth checking when they are free before agreeing to a completion date, otherwise you risk changing it because you can’t find anybody to move your belongings.
Have costs covered
Have all the necessary funds in place for all the costs involved in the moving process.
Always be available
Make sure you are easily contactable and around to sign the paperwork and contracts. I.e don’t go on holiday! If you know that you need to be away then plan ahead by signing paperwork before you leave and give power of attorney to your solicitor so the process can move forward regardless you are unavailable.
Find Out More
Despite it being a really strong housing market here, there are numerous things to think about to attract significant interest quickly, and then ensure a smooth ride to exchange and completion. For more information about Fine & Country can help, contact Jan or Ildi on 01780 750 200 or e-mail: stamford@fineandcountry.com.
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