TRETHOWANS

Five tips to keep you on Santa’s nice list...

...when buying and selling property this Christmas

December is one of the busiest times of year for residential property transactions. However, as some law firms close for the Christmas and New Year period, it can feel as though the housing market grinds to a halt.

Here are five tips to keep your transaction moving during the festive period:

1. Be prompt with communication. Communication is key when trying to get a contract exchanged or completed just before or after the Christmas period. Many solicitors try to tie up all loose ends before the Christmas holidays start, so the best way to ensure your instructions are acted upon is to keep in swift contact with your solicitor when questions are asked, or if you need to sign or provide documents.

2. Instruct your solicitor early. If you’re in the process of making an offer on a house during December, it is best to know who will be acting for you in the transaction. This way if you make an offer and your offer is accepted, the solicitor can start working on the transaction immediately. This will ultimately reduce the stress of finding a solicitor once your offer has been accepted. If you are selling, you can prepare the initial paperwork before accepting an offer. This can take weeks off the whole transaction and help beat the January rush of people who will buy and sell post-Christmas and into the New Year.

3. Patience is a virtue. While your solicitor is working hard to progress your sale or purchase, be mindful that there can be matters out of their control which could cause a delay. For example, there may be delays with processing mortgage applications, searches being issued, banks releasing funds, surveyors having availability, and delays with obtaining vital documents for the property (such as title deeds or building control certificates). So, it is best to be understanding and patient and know that your solicitor is doing all they can to get the property transaction over the line.

4. Know your firm’s last completion date. You should be aware of the important dates for a property transaction, however, during the festive season many law firms will set a final date on which they will complete a sale or purchase transaction. This is because if a problem arises with a completion, your solicitor will want to ensure that there is adequate time to resolve it. Trethowans’ last date for completion for this year is 20 December 2022. 5. Don’t be afraid to wait until the New Year. While it might seem like a great idea to get everything done before or during the Christmas period, sometimes it is best to wait until the New Year when everything has settled down and there is less stress after Christmas. If you’re selling your home and your property has been sitting idle during December, you might find a flurry of new buyers in the New Year who are keen and ready to buy. If you’re on the hunt for a new home in the New Year, it might mean that waiting those extra few weeks has opened up a wider market of properties which are newly listed and you might just find the property you have been searching for.

Christmas is typically one of the most stressful times of the year and hopefully these tips will alleviate some of the stress you might be feeling if you are buying or selling, so that you can enjoy the festive period.

Merry Christmas and happy New Year from the team at Trethowans.

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