Don’t Move Without Reading Them!
Survey Hut spoke with Nicola Ford at Hart Ford Solicitors in Stockport.
Why do sales fall through?
The percentage of sales that do not complete is anywhere between 15 – 30% and the most frequent reason for them falling through are the buyer changing their mind. The longer a sale goes on the higher the chance of it falling through.
Making sure your sale progresses quickly can be the difference between it completing and it not. If a sale falls through costs are wasted and you’re at risk of losing the new home you’ve found.
What is the biggest mistake buyers and sellers make in the legal process?
It might appear like a simple thing but choosing the right conveyancing solicitor at the start of the process is very important. We see many sales take longer than they should and fall apart due to junior legal staff getting things wrong and being overworked.
When choosing a conveyancer try to get someone recommended by word of mouth or strong reviews. Also always ask if the conveyancing solicitor you’re talking to will be the one handling the case. A lot of conveyancing firms will use junior members of staff to keep costs down.
Don’t just go for the cheapest solicitor as they often won’t give you the correct service, which can result in delays and additional costs.
Best Advice?
Listen to your conveyancer! Try to sign documents correctly and promptly so the process can move forward as quickly and smoothly as possible.
Suggestions to speed up process?
Make sure you have all your paperwork in place as soon as possible. This includes planning and building regulation documents for extensions, structural changes and new buildings.
You’ll also need a gas safety certificate for the installation of boilers and heating systems, an electric safety certificate if any works have been undertaken to the electrics and a building regulation or FENSA certificate for new windows and doors.
If I don’t have the correct documents, should I get them?
If you don’t have the documents don’t start ringing the council or other parties for them. Speak to your conveyancing solicitor about what to do. Often it is quicker and cheaper to take out an indemnity insurance policy to cover any missing documents.
What is good about the English property legal system?
In England a buyer is not committed to a purchase until exchange of contracts. The ability to stop a purchase is a good freedom as there can be a lot of legitimate reasons for not completing a purchase, such as unforeseen defects found during a survey.
What would you change about the legal system?
We see so many old covenants on land that put sales at risk but don’t benefit anyone. An example might be the land a house sits on has to pay money to another party or there is a restriction on how the land can be used. I would like to see all covenants over 100 years removed to free up the obstacles to buying or selling a property. Learn more about covenants here.
