Both purchasers and vendors often say the most frustrating thing when buying or selling a property is the amount of time it takes after the property is sale agreed for the sale of a property to close.
While much of the delay is due to the complicated nature of the conveyancing process, Winters Property Management has a few suggestions for the vendor that can speed up the process for both parties.
Identify where the title deeds are early on. If they are with your mortgage lender, have them delivered to your conveyancing solicitor prior to sale agreeing your home so that contracts can be prepared and ready for when the property becomes sale agreed. This will give your solicitor the opportunity to spot and resolve any legal issues, and essentially to pre-empt any queries that the purchaser’s solicitor is likely to raise, before they become a cause for delay.
If your property is part of a management company your solicitor should contact the managing agent immediately the property becomes sale agreed to request the pre-contract inquiries as per the Multi Unit Development Act. In very basic terms this provides information on the health of the management company and any outstanding debts, as well as kickstarting the change of ownership process.
In some circumstances it would be advisable for a vendor to have his/her own engineer to conduct a planning and structural report prior to placing the property on the market in order to identify any issues which may be raised by a prudent purchaser.
If you have a property for sale or you require any further information, contact Ian at Winters Property Management on 087 9003982/091 771898 or email [email protected].