9 January 2012

Legally ready movers do it quicker

- Being legally ready to sell or purchase your home takes up to nine days off the moving process - Early exchange reduces the risk of a house sale falling through

Buyers and sellers who start the legal process early move on average up to  nine days  earlier than those who are not prepared, statistics from Move with Us, the residential property experts reveal.

According to the research, the average time taken to sell a property and be ready to exchange for those who are legally ready – having documents to hand - is 48 days, nine days  quicker than those who wait to start the process once an offer has been agreed.

 For both sellers and buyers alike, being legally ready ensures an air of commitment and confidence. In addition to this, the less time the sales process takes to complete, the smaller the risk of the sale falling through.   

For sellers in particular, being legally ready means formally instructing a solicitor to act on your behalf, and having the property information forms completed in advance as well as ensuring that all identification is verified.   Being a legally ready buyer is slightly less strenuous, but ensuring that you have a mortgage in place is principle, as well as appointing a solicitor and completing the necessary identification checks.  

Robin King, Director, Move with Us comments:  “As we start to see more movement in the property market, it is essential that both buyers and sellers are legally ready to proceed with their move in order to significantly reduce the number of days it takes to be ready to exchange.  By doing this early on in the process, sellers are also able to identify any potential issues and deal with them before the selling process begins.  If the legal process commences as the property goes to   market, this will put you ahead of the competition and ultimately give you a quicker sale.”

Unforeseen delays in the selling process can occur when owners are unable to locate their deeds and leasehold documents or have lost their marriage or death certificates.  Completion of the property information forms can often be very time consuming so completing these at the earliest available opportunity will help the moving process run quickly and smoothly.


“Exchanging contracts is a key milestone when moving and once this has taken place, the buyer and seller are entered into a contract, often with a deposit payment, which significantly reduces the risk of the sale falling through.”  Robin added.

“For buyers in the market, having a mortgage offer already agreed in principle is good preparation and puts you in a strong position when making an offer on a property.  Being legally ready and prepared will often give you an advantage when there are others bidding on the same property.  This is something that should be addressed as soon as the house hunt begins, allowing you to focus on finding your dream home, safe in the knowledge that you are already ahead of the competition.”
 

About Move with Us:

We are one of the UK’s leading property experts, as we deliver simple and effective services to help customers buy a home. Our trusted and professional services are second to none.

Based in Cambridgeshire, we currently have over 280 members of our team, who all share the same core values and goals. Through our commitment to continuous innovation, exceptional service and outstanding value we do property, properly.

We work with independent, accredited estate agents across the country, providing property instructions and a host of moving services to help them earn revenues and provide their customers with a smooth, efficient move.

Each element is incorporated into an integrated approach, focused on bringing together the right people, properties and professionals to deliver what we believe is an unrivalled service.