Looking for ways to speed up your house sale or property purchase? You’re in the right place.
One of the most common questions we hear when moving homes is, “Why is it taking so long?”. This is why we want to provide some insight into conveyancing and uncover some reasons why the process can take longer than expected. Plus, we explore tips on how you can keep the momentum.
We’ll touch on:
- The average timeline when buying or selling
- What could delay the conveyancing process
- Tips to speed up your property sale or purchase
What’s the average timeline for buying or selling a home?
On average, the entire process of buying or selling a home takes between 12 to 16 weeks*. However, this can vary significantly depending on various factors. In some cases, it might be possible to complete the process in as little as 6 weeks, while in others, it could stretch to 6 months or more.
The main exception being Scotland, where the process of buying and selling property is different, which can often lead to faster sales. For example, right now, Scottish properties, on average, sell in 33 days, which is 28 days faster than the UK average of 61 days.**
Why is my house completion taking so long?
Several factors can contribute to delays in the home buying or selling process:
- Property chain complexities
- Legal and administrative processes
- Survey results and potential issues
- Mortgage application and approval
- Delays in communication between parties
Property chain complexities
One of the most significant factors that can slow down the process is being part of a property chain. A chain occurs when multiple buyers and sellers are linked together, with each transaction dependent on the others. If one link in the chain experiences a delay or falls through, it can affect everyone else in the chain.
Find out more about "property chains and how to break them in our quick guide."
Legal and administrative processes
The conveyancing process, which involves the legal transfer of property ownership, can be time-consuming. This includes conducting property searches, reviewing contracts, and addressing any legal issues that may arise.
Survey results and potential issues
Property surveys can uncover unexpected issues that need to be addressed before the sale can proceed. This might involve negotiations between the buyer and seller, or even additional work being carried out on the property.
Mortgage application and approval
For buyers, securing a mortgage can be a lengthy process. Lenders need to conduct thorough checks and valuations before approving a mortgage application.
Which part of conveyancing takes the longest?
Typically, the longest part of the conveyancing process is the pre-contract stage. This involves property searches, raising and answering enquiries, and addressing any issues that come to light. This stage can take anywhere from 6 to 12 weeks, depending on the complexity of the transaction.
How often should I hear from my conveyancer?
You should expect to hear from your conveyancer when things are progressing. If you haven't heard anything for a while, don't hesitate to reach out and ask for an update.
How do I get my conveyancer to hurry up?
While it's important to be patient, there are some steps you can take to help speed up the process:
- Respond promptly to any requests for information or documentation.
- Keep in regular contact with your conveyancer and estate agent.
- Consider setting up weekly check-ins to discuss progress.
How long is conveyancing taking at the moment?
As of 2024, the average conveyancing process is still taking between 12 to 16 weeks. However, this can vary depending on the current market conditions, the complexity of the transaction, and the efficiency of the parties involved.
Tips to speed up the conveyancing process
While many factors are outside your control, there are some steps you can take to potentially speed up the process:
- Have your finances in order before starting the process.
- Choose an experienced and reputable conveyancer.
- Be prepared to provide information and documents quickly.
- Stay in regular communication with all parties involved.
Remember, while the process can be frustrating, it's designed to help ensure both buyers and sellers are legally protected. Patience and proactive communication can go a long way in ensuring a smooth transaction. By understanding the process and taking proactive steps, you can help minimise delays and reduce stress during your property transaction.
Special considerations for different property types
Leasehold properties
Buying or selling a leasehold property often takes longer than a freehold transaction. This may be due to additional paperwork and checks required, such as reviewing the lease terms and obtaining information from the freeholder or management company. Be prepared for this process to take several additional weeks.
New-build properties
Purchasing a new-build property can also present unique challenges. Construction delays are common, and you may need to be flexible with your completion date. Additionally, ensure your mortgage offer will remain valid if there are delays, as most offers are only valid for 3 to 6 months.
While the home buying and selling process can be lengthy, it's important to remember that thoroughness is crucial when dealing with such a significant transaction. By staying informed, communicating effectively, and being prepared, you can navigate the process more smoothly and potentially reduce the time it takes to complete your property transaction.
Our conveyancing experts can make sure that all the legalities of your property transaction are covered, helping your sale or purchase move forward as efficiently as possible.
