How To Reduce Delays On House Sales

 

For Sale Signs Outside A English Townhouse

If you’ve put your timber frame house on the market but are concerned that it’s not generating the amount of interest you’d expect, it might well be because of the time of year.

Summertime – with everyone going on holiday – is perhaps not the best time to try and sell your house, so don’t expect it to be snapped up immediately if you have listed it over the last month or so. Yorkshire Building Society (YBS) has advised people that valuations actually take on average one day longer in summer than in spring – but luckily, there are ways in which you can reduce delays when it comes to selling your property.

It’s all about trying to make the process as simple as possible. To that end, make sure you provide as many contact details as you can (for each person on the mortgage) as this will increase the chances of someone being able to get hold of you.

If you’re going on holiday, let both your lender and solicitor know so that the valuer can make other properties their priority while you’re away. You’ve also been advised to check with your lender how long they’ll wait. Many will instruct a property valuation as soon as possible, but some do take longer – which can create a holdup from the very beginning.

“There’s no hard and fast rules on how long a property valuation or survey takes to complete. It varies on a number of factors, including region, the level of demand for mortgages, and the type of survey. However, for many people time is of the essence and it typically takes longer during the summer mainly because many people are jetting off on their holidays leaving valuers unable to access a property.

“Summer is not the only time potential delays in valuations may occur. Easter and Christmas can also cause a slowdown due to people being away from their home for extended periods of time,” senior mortgage manager at YBS James Farrow said.

The conveyancing process can be held up for countless reasons – and a lot of them may be completely out of the control of your estate agent or conveyancer. If, for example, you include mistakes on your mortgage application the processing could take longer, or it could be completely disqualified so always check and double check the facts.

And remember that mortgage offers usually last between three and six months – and if they expire before all the legalities have been gone through, you’ll need to apply for a new mortgage. The best way of keeping the process running smoothly is by keeping on top of all your paperwork and responding quickly to any and all requests from your conveyancer or solicitor.

Of course, you can’t help it if the delays come from the other party involved but you can do your best to ensure that you’re not creating any problems for yourself.

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