84% of home movers instruct solicitors too late in the moving process

1 March 2014

Research has revealed that the majority of home movers act too late when instructing their solicitor or conveyancer, causing potential delays in the process.
The survey, which was conducted among independent estate agents, found that 84% of their customers instruct a solicitor once an offer has been accepted on a property rather than when they put their house on the market or they first start looking to buy. 
Sellers that are Legally Prepared early in the transaction move on average up to 11* days faster. Instructing a solicitor early also helps to lower the risk of the buyer or seller pulling out of the sale.
If a buyer is Legally Prepared when they make an offer they will be seen by the seller as a serious buyer which could help safeguard their purchase. This could become crucial as there’s often fierce competition between buyers in the current market. In-turn, keeping a buyer can also prove difficult. However, when both parties are Legally Prepared early it speeds up the process reducing the risk of the property transaction falling through.
*Figures are based on an analysis of just over 1,000 completed conveyancing files by Move with Us from 1 January – 23 September 2013. The results show the average time from sold subject to contract to exchange across the panel reduced by 11 days for customers using Navigator.

Research has revealed that the majority of home movers act too late when instructing their solicitor or conveyancer, causing potential delays in the process.

The survey, which was conducted among independent estate agents, found that 84% of their customers instruct a solicitor once an offer has been accepted on a property rather than when they put their house on the market or they first start looking to buy.

Sellers that are Legally Prepared early in the transaction move on average up to 11* days faster. Instructing a solicitor early also helps to lower the risk of the buyer or seller pulling out of the sale.

If a buyer is Legally Prepared when they make an offer they will be seen by the seller as a serious buyer which could help safeguard their purchase. This could become crucial as there’s often fierce competition between buyers in the current market. In-turn, keeping a buyer can also prove difficult. However, when both parties are Legally Prepared early it speeds up the process reducing the risk of the property transaction falling through.

*Figures are based on an analysis of just over 1,000 completed conveyancing files by Move with Us from 1 January – 23 September 2013. The results show the average time from sold subject to contract to exchange across the panel reduced by 11 days for customers using Navigator.

 

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