Poor communication between estate agents, solicitors and lenders results in 23 per cent of transactions falling through, according to a
Poor communication between estate agents, solicitors and lenders results in 23 per cent of transactions falling through, according to a recent survey commissioned by the Conveyancing Association.
The results show that for 52 per cent of those who have bought or sold a house since 2008, the transaction took longer than expected, with 48 per cent saying the process involved unforeseen delays.
Of the 1,500 respondents, 47 per cent said the various parties involved in the sale of their house could have communicated with each other better, and 46 per cent said better communication would have significantly speeded up the home buying or selling process.
Getting the right estate agent is key to the whole process being as smooth as possible. For a full list of Henley’s local estate professionals, visit henleystandard.co.uk/property/agents.php
Other ways in which sellers can help to keep a sale moving quickly, include:
• Instruct your solicitor as early as possible so they can begin some of the procedures and prepare some of the documentation. This saves valuable time once a buyer has been found for your home.
• Advise your solicitor of your mortgage lender and mortgage account number as soon as you can, so they can obtain the deeds in advance; this can save weeks at a later stage.
• Complete the fixtures and fittings enquiry form provided and return it to your solicitor promptly.
• If the property is jointly owned, ensure both parties agree to it being sold and that the price is acceptable and let your solicitor know the details of any agreements that you have.
• If the property you are selling is a flat or leasehold, ensure that your ground rent and management service charges are up to date.