The property market at the moment is bustling with activity, with even the tapering off of government grants not sopping its momentum.
Rightmove’s House Price Index claims the average price of a property is at its highest point since records began, and buyer demand does not appear to be dissipating.
However, as we have seen over the past year, property sales even to excited buyers can be delayed, and if you want to sell your property fast then it is important to know the most common causes of property sale delays and what you can do to help speed them up.
Missing Documentation
Property is one of the most difficult belongings to sell, in no small part because there is a lot of documentation involved that needs to be checked and verified against official sources and kept up to date.
Electrical documents, gas certificates, warranties, home insurance documentation are just some of the seemingly endless lists of documents needed when a house is being sold.
Ask your estate agent and property solicitor as early into the selling process as possible what documentation you will need and make sure you have it readily to hand before you start entertaining any offers. It could save you weeks of delays.
Conveyancing Delays
One aspect of property sales that you, unfortunately, do not have as much control over is organising surveys, which tend to involve asking for particular searches to be made about a property to prove the property owner has the rights they believe they do, as well as potential environmental hazards.
These can take a very long time, and the best way to help speed them up is to be proactive and chase your conveyancer every week to see where they are up to with particular tasks. This helps keep your needs at the forefront.
Rungs In The Chain
Many sales are dependent not only on an agreement between a buyer and a seller but can sometimes involve other buyers who buy the home of the buyer of the property being sold.
These can get quite complex, and involve the complex coordination of sales that can only move at the speed of the slowest link.
If you have the option, avoid selling to people in chains, such as first-time buyers or property investors.