LEGAL
Keep Calm and Keep Moving Moving to a new house can be a difficult time. Lesley Price FCILEx of CGM Hampshire Limited provides advice on what you can do to keep things moving and to manage delays when they occur BE REALISTIC ABOUT TIMESCALES One of the questions we get asked most in the conveyancing industry is, “How long will my transaction take?” And it’s the one question that is impossible to answer. Each property and chain of transactions is unique and there are all sorts of things that can take time to investigate. What is important to remember is that your purchase is a major investment for you, and while we know you will want it done quickly, it is also vital it is done well.
FACTOR IN SOME CONTINGENCY Delays are often made worse in the conveyancing process when you, or another party, have circumstances which mean they don’t have flexibility to react to changing situations. This could be a personal deadline such as limited leave or pre-booked holidays, or it could be in respect of one of the parties having a fixed date to leave their current accommodation. It is always better to go into the process with as much flexibility as possible, but circumstances may arise which are beyond you or your legal adviser’s control. If you do have deadlines or fixed timescales, then let your legal adviser know straight away. You need to have contingency plans in place should the worst happen, and these timescales cannot be met.
CHASING DOES NOT ALWAYS HELP It is frustrating for everyone when delays occur, and often there may be things you can do to assist your legal adviser in moving things forward. However, there are often delays which cannot be helped and your legal advisers will do everything they can to move things forward. Keep in contact with your legal advisers, and you should be updated regularly, but if your adviser is receiving multiple chasers on the same issue it can slow down rather than speed up the process. Trust your
legal advisers, as they will contact you as soon as they have news, and if you are still concerned, set timescales for updates which both you and they are happy with.
USE YOUR HEAD AS WELL AS YOUR HEART Often legal issues will arise during the course of a transaction which can be dealt with but can take time to resolve. There are often two ways of dealing with an issue which will involve a shortcut option such as an indemnity insurance policy or a longer process of varying documents or hunting down missing documents. While the use of indemnity policies is very common these days, and they perform a useful function, they are not always able to be obtained. Also, it may be that the better option for the longer term for you is to correct the problem at the point you buy so it does not come up again when you come to sell in
the future. Your solicitors should provide you with all the options and even if you are coming under time pressure, remember it’s your purchase and you will want to go with the best option for your circumstances – not always the quickest fix.
FOCUS ON THE POSITIVE Remember that the end goal of your transaction is to be living for the long term in your new home. Even if the process is delayed or bumpy you will be able to get your move through, and it is important to remember it’s a huge investment for you, which is worth investing time and patience in to get a home you can both enjoy and that represents a safe investment for you in the future. For more information regarding buying or selling your property and a no obligation quotation please email us on enquiries@c-g-m.co.uk
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