The earlier the better is the answer.
Property sales and purchases are often fraught with unnecessary difficulties and delays, such as chains collapsing, parties enforcing deadlines and people having unrealistic timescales. The longer the process takes, the more risk there is that it could fall through, resulting in frustration and disappointment.
What are the advantages of appointing a solicitor early on?
Buying a house
If you are buying a property, instructing a solicitor at the beginning will mean that we can deal with the money laundering requirements of verifying your identity at the onset. As soon as we receive the contract papers, we can then immediately start work rather than have to wait until we have dealt with the money laundering requirements. This could save 1-2 weeks in the conveyancing process.
When you are making contact with estate agents and you advise them that you have already appointed solicitors, this will show that you have commitment to the transaction. It will also show that you are eager to progress quickly, which could mean that your offer is accepted more readily by the seller than someone who has not.
Selling a house
If you are selling a property and you instruct us when you are placing your property on the market, we can deal with the money laundering requirements of verifying your identity at the onset. These checks need to be made before lawyers can start the conveyancing process.
This includes:
- the verifying of your identity,
- your source of funds (if you are buying a home), and
- carrying out electronic checks against you.
Having done this, you will then be able to take your time to collate information about the property and fill in the forms that you will need to complete.
The forms you will have to complete are:
- Property Information Form
- Leasehold Information (if the property is a flat/apartment)
- Fittings & Contents Form
Having prepared all these will mean that we can issue a contract package very quickly to your buyer’s solicitors once you have accepted an offer for a house.
We’re here to help
At Porter Dodson, we are here to ensure that the conveyancing process is as smooth and as stress-free as possible. Contact a member of our Residential Property Team who will be happy to advise you on any residential property enquiries you may have.
