Covid-19 Update

Adhering to our Covid-19 policy,

please click here

Covid-19 Update Hide

Buying or selling a home? Here’s five tips for a smooth property transaction

News at Kings Group | 04/10/2018

Whether you’re a first-time buyer or have bought or sold a property before, the home moving process can be stressful, especially when there are several obstacles which could throw you off track.

Sometimes, things can unexpectedly grind to a halt, even when both buyers and sellers are keen to exchange quickly. However, there are ways to minimise the chance of this happening.

Along with some help from NAEA Propertymark, here at Kings Group, we’ve put together some tips for movers to consider when moving home.

Get your finances in order

Failure to budget early could slow down your move significantly, so the first step when preparing to buy or sell a property should be to get organised. This means speaking to a mortgage adviser to confirm your budget and getting an agreement in principle.

If it will help, draw up a list of all the potential costs of your move, being sure to include conveyancing costs, estate agent’s commission fees, mortgage arrangement fees and stamp duty.

You’ll receive a formal mortgage offer when your offer is accepted, but remember this will only be valid for a set time-frame. If you don’t complete on the property before it expires, you’ll need to start the process again.

Choose a trustworthy solicitor

As your solicitor or conveyancer is crucial to the whole process, it’s important that you’re working with someone you trust. You will want a solicitor who will keep the process moving, chase the other party when necessary and acts in your best interests. Ask for recommendations from friends or family to ensure your property transaction is in good, reputable hands.

Keep in touch and ask plenty of questions

Ensure that you ask as many questions as you need to, as keeping in regular contact with your solicitor and estate agent will increase the chances of avoiding nasty surprises further down the line. Your conveyancer or solicitor will know the process inside-out, but they won’t always know what’s on your mind.

You might want to agree a weekly update between all parties at the start of the process to reduce the chances of any miscommunication. This will also allow you to stay in the loop and gain some control.

Be prompt with your responses

The moving process requires you to provide lots of information and documents. It’s important to review, fill out, sign and return everything in a timely manner. Be sure to read over things carefully, ensuring that you understand what is happening at all points of the process.

At the same time, you don’t want to sit on things for two or three weeks as you’ll be holding up the transaction. Keep in mind that normal life may need to take a back seat until you have exchanged contracts, and make sure that you’re fully contactable – even if you’re on holiday.

Set a realistic deadline

By agreeing a realistic target date for exchange, everyone has a set deadline to work towards, which should give the process some structure. If one side or both sides aren’t quick enough to move, you may want to build in some extra time between exchange and completion, rather than being too flexible with the exchange date. Whatever deadline you choose, you must try to stick to it.

If you take these measures into account, you can maximise your chances of achieving a stress-free relocation. Now that we’re in the post-summer boom in market activity, whether you’re buying or selling, now is a great time to move home.

If you would like any guidance on selling a property in Hertford, Walthamstow, Essex and surrounding areas, contact your local Kings Group branch today.

Also, to see how much your home could be worth on the current market, you can request a free instant online valuation.