Home movers can prevent delays in property transactions – here’s how

Published: 25/04/2022 By Musgrove & Co

In the property industry one of the greatest challenges faced is how time-consuming transactions can be.

When buying or selling a home, delays in the transaction process can cause dissatisfaction and impatience when it takes longer than anticipated and can result in a significant loss of income each year to those trying to close the deal.

In a survey it had been revealed that of 627 homeowners, 72% participants would like the process of homebuying to be faster and more efficient.

Thankfully, there are a few ways sellers can prevent this issue from occurring, and below we outline our methods to prevent transaction delays, thus speeding up the process.

Select the appropriate agent

This is one of the most important stages during the selling process.

On average transactions can take up to 15 weeks to complete, as statistics show, yet those who suffer setbacks can take double the time.

Sellers are urged to do thorough research to ensure that the agent they choose keeps them updated every step of the way, since communication during this phase is crucial.

Considering the Covid-19 pandemic, online streamlined services can be utilized as agencies recognize the value of this as it allows information to be shared and accessed 24/7.  

Sellers should analyse estate agent websites and see if they offer online tools such as online calculators, valuations, and tools.

Reading the reviews of the agency could also help build a firm understanding of their reputation with regards to their efficiency and whether their processes are streamlined.

Be organised and respond quickly

Write a checklist of all the documents and certificates that sellers will need to provide at different points of the sales process will help save time.

By taking days to respond to queries or providing sufficient documents can also slow down the overall process, therefore, organisation is key.
Sellers expect a prompt response when contacting an agent or conveyancer about a query and should bear in mind that conveyancers and agencies also need the same to ensure the transaction is processed efficiently.  

Chain delays should be avoided

A chain refers to when the sale of a home depends on the completion of another. This occurs when buyers must first sell their homes before they are able to purchase a new home.

Further delays can happen when chains break, but luckily this can be bypassed.

By estate agents and conveyancers managing communication with buyers and sellers, delays and fall-throughs can be prevented.
Estate agents and conveyancers are professionals who have the skills and experience to create schedules around realistic deadlines. This will mean that all parties involved will know when their sale is completed.

Musgrove & Co is an independent estate agent covering all of Norfolk, and our goal is to offer a seamless property buying or selling journey, while adding value wherever we can.

To find out more about our services and current operations, please get in touch with our expert team today.