The key to a smoother and quicker home move? Preparation.

19 Nov 2013

Buyers:

  • An estate agent will pay you little attention if you have yet to receive an offer on your own house, or if your mortgage is not yet approved in principle. Your position is vastly improved when making an offer for a house, if for example, your mortgage is all in place save for your Lender’s own valuation (which of course is property specific).
  • Don’t assume your own bank, or your existing mortgage lender is the place for your new mortgage. Or even the estate agent’s recommendation of a mortgage adviser (often their own ‘in-house’ one). Always consider an IFA (Independent Financial Adviser) who has a mortgage arm. And who considers ‘the whole mortgage market’ (i.e even lenders who only deal with the customer, not through mortgage advisers).
  • Don’t assume Rightmove is the only place to find a property. Register with local estate agents. They see instructions before uploading them to Rightmove, and deals are often struck even before properties ever get uploaded.
  • Make early selection of your surveyor, and conveyancing solicitor. Have them ready and showing attention, as a seller of a property will appreciate your preparation, and therefore commitment. Surveyors should belong to the Royal Institute of Chartered Surveyors (RICS). You can select a Solicitor using two Law Society accreditations (Lexcel and Conveyancing Quality Scheme).

Sellers:

  • Be realistic in the sale price you want. Remember, if you receive an offer, you too can make an offer on your own purchase.
  • Instruct your conveyancing solicitor as early as possible. They will charge a fixed fee, so it will be no more costly, however early you instruct them. But you will give them the early advantage to locate your property deeds, have you complete the legal property questionnaires that will pass to your buyer (and giving them a chance to read how you have answered them) and to ultimately spot and hopefully fix any likely problems (either caused by your previous choice of conveyancer or by you by doing building works, for example, and not realising to inspect your deeds for restrictions or by not obtaining Council consents). Problems, which left, will delay later on in the process and possibly causing it to abort.