Welcome to a conveyancing chain
Every seller and buyer has their own agenda on how fast they are prepared to complete their sale or purchase. As do their seller's own seller or their buyer's own buyer. And even their seller’s seller and their buyer’s buyer. And so on.
Yet each person will get frustrated if they cannot have their own way on timings; yet when their expectations cannot be met it is unavoidably a case of 'welcome to a chain'.
However, the frustration does not end there.
Now add the following ingredients:
1. A deal where no attempt was made to get an idea of the timescale when offers were made/accepted; or
2. Those estate agents who lose interest the moment an offer is accepted and then fail to get involved and police the legal conveyancing chain together; or
3. Those estate agents who telephone conveyancers because their check-list tells them to, rather than being of any assistance at all; or
4. Overlooking that one party is in rental, and will want 1 or 2 months notice after exchange, to service notice of leaving on the landlord so as to avoid paying both rent and mortgage; or
5. Slow conveyancers; whether due to inexperience, taking on too much at low value, the 'generation thing', or those who get 'loud when they are ready but slow until then'; or
6. Overly cautious surveyors; or
7. Administratively challenged mortgage lenders, requiring the 'kitchen sink' or those that make the usual assertion of 'we never received it' position.
A clear recipe for disaster, and certainly an uphill struggle to possibly manage a client's expectations.
Yet by following four simple rules 'chain frustration' can be reduced:
- As a condition of your offer, agree a provisional date to work to;
- Chose an estate agent driven by passion for the job, not those bound by head-office targets;
- Chose a dynamic expert conveyancer (one you speak to yourself before deciding);
- Don’t go cheap on anything. Quality attracts quality.