Severe conveyancing delays mean savvy sellers must act now to be in a new home by Christmas.
You probably think it’s too early to be thinking about Christmas, right? After all, why worry about tinsel, trees and a present for dear old Aunt Bertha when it’s the middle of summer?
But if you’re planning to move home and hope to be in your new pad by Christmas, then now is the time to get moving. Let us explain why there’s no time to delay.
Conveyancing logjam
There are currently huge conveyancing delays in the UK. As a result, once a sale has been agreed, it takes on average 150 days to complete the purchase*. (To put this into context, this is 50 days longer than it took back in 2019.)
Now, some buyers and sellers (especially the ones with proactive agents) might be able to navigate the conveyancing process faster than the average time. But property transactions can be complicated, so it’s essential to work to a realistic timeframe to avoid disappointment.
Get the ball rolling
If you hope to sell your home and purchase a new one, the first step is to market your current property.
There are many reasons why you should do this before you start searching for your dream home:
- You’ll put yourself in a stronger negotiating position. Aware of lagging completion times, many sellers are prioritising offers from buyers who are ready to move.
- While the market is experiencing completion delays, sales are being agreed in record time (on average 32 days**). So even if you do shake hands on your dream home, if you’re not organised, there’s a risk that the seller will get impatient and walk away from the deal.
- If you’ve accepted an offer on your property, you’ll know exactly where you stand regarding budget.
- You won’t be tempted to accept a lower offer on your home because you’re desperate to hurry the sale along so that you don’t miss out on your dream property.
For advice on marketing your home to achieve top asking price or for a valuation, get in touch with us here at Martin & Co.
* Rightmove
** Rightmove
