If you think the home buying process is as easy as 1,2,3, think again. A lot of things go into it, which is why it’s not easy as you think. In fact, regardless of the type of property you plan to purchase, expect to encounter some obstacles along the way. Therefore, it’s essential to be prepared for the problems that may come up during the process. We have listed some common problems below.
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Gazumping
This is when a seller accepts a higher offer on the property. When this happens, everything you’ve worked hard for for weeks or months to get the house will all be for nothing. That’s why gazumping is considered improper, but it’s not illegal. With that, a seller can accept a higher offer, which may force you to match the offer, negotiate a price until you get somewhere in between or drop it.
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Inability To Let Conveyancers Know An Offer Has Been Accepted
When you fail to let the conveyance know when offers are accepted, it could lead to more delays that will extend the whole process. That’s why when an offer is accepted, it’s essential to inform the solicitor immediately to get the process moving.
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Problems With Paperwork
The most common issue with paperwork during this process is that they’re not fully accomplished. When this happens, it can set back the process. So if you don’t want to waste any more time, make sure everything is filled out correctly and all the necessary documents are completed.
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Issues With The Property
Another common problem that comes up in the conveyancing process is property issues. This occurs following a survey that highlights a problem with the property. When this happens, it can lengthen the process.
The conveyancing process can take months, and you want to prevent any delays considering that buying or selling a property is already a lengthy process. In fact, the pre-contract work already takes up to two weeks. This part of the process begins the moment an offer on the property is accepted. Furthermore, drafting the contract can take anytime between two and ten weeks, and you want to prevent any problems during this time.
Prepare For What Can Go Wrong
It’s safe to assume that some things can go wrong or get delayed during the conveyancing process. Doing so will help you prepare for what’s coming. It’s a complicated process that you need to pay close attention to. Most of the time, you just need to ride it out and be extra patient as it progresses.
By knowing the common problems that may pop up during the conveyancing process, you can minimize the risk of these problems from coming up. Therefore, you get a better chance at a smoother process that will leave you with less stress.
Conclusion
Conveyancing is a meticulous process. One thing to remember when you’re about to go into it is to have the right resources to make everything a lot easier. That way, you get a better chance for things to move as smoothly as possible.
Conveyancing Store is an excellent resource to get the best conveyancing quotes. This way, you can have the process move along quickly. Find your solicitor today and get the ball rolling.
