Buying a new home can be an exciting but daunting experience. By hiring a conveyancer, you increase your chances of experiencing a smooth and satisfactory purchase experience. Unfortunately, many homebuyers may experience delays that extend the timeline of purchasing a home. In this article, we’ll discuss how you can minimise delays in conveyancing, speed up the conveyancing process, and ensure your property purchase goes smoothly and efficiently.
How long does conveyancing take?
It’s common for conveyancing to take between eight to twelve weeks — from the acceptance of an offer to the completion of the transaction period. The timeframe depends on the complexity of the transaction, the efficiency of all parties involved, and any unforeseen issues that may arise at any time during the process.
Common conveyancing delays
Although a conveyancer will do everything possible to streamline the conveyancing process, delays can still occur. Some common causes of conveyancing delays include the following:
- Slow communication between parties
- Incomplete or inaccurate documentation
- Late signatures of any party
- Bank and financing issues, usually with loans
- Delays in the mortgage approval
- Travelling during settlement or not being in the local area
- Problems discovered during inspections and searches
- Dissatisfaction with the property’s condition
- Property chain complications
Tips for minimising delays in conveyancing
To minimise delays that may arise during the conveyancing period, consider the following actions and make sure you’re doing as much as you can to facilitate the process.
1. Choose a reputable conveyancer
The make or break in the conveyancing process comes down to the conveyancer. Choose a reputable and professional conveyancer who is well-versed in property law. Before you hire a conveyancer, check their qualifications, read testimonials, and request a preliminary consultation before committing. Hire a conveyancer before the sale contract to reap all the possible benefits of their services.
2. Communicate effectively
Many common delays come down to the buyer. Avoid delays by being prompt with replies and requests. Maintain a regular stream of contact with your conveyancer. Submit information on time, ask questions if you’re unsure about anything, and consistently provide updates on any changes to do with the transaction. Be completely honest about your financial circumstances and anything that could affect the purchase. Your conveyancer and financial advisor will form the best strategies and advise you on how to proceed. You’ll avoid costly delays and time-wasting by communicating regularly, effectively, and honestly.
3. Do your research
Although a conveyancer takes a lot of the work out of the purchase process for you, they can’t do everything — and it’s best for your peace of mind that you know what’s going on. Do your own research to ensure everything is going according to plan and that you’re getting the best deal. From sale contracts to bank loans and stamp duty fees, it’s essential to be aware of everything that the property purchase necessitates so that you can be prepared for anything. This way, you’ll prevent delays from occurring and ensure you’re in the loop with the process.
4. Be proactive with your paperwork
Gather all the necessary documentation as early in the process as possible. Collect your proof of identity, proof of funds, mortgage documentation, and other vital documents into a well-organised folder, whether physical or digital. Take great care to ensure that your finances are in order — and that you can prove it. Prepare everything well ahead of deadlines — in fact, as soon as you receive the paperwork. Getting documents off early allows extra time for third parties to get back to you with any additional questions.
How to Speed Up the Conveyancing Process
Much of the conveyancing process is about due diligence and staying on top of every request. To make sure your conveyancing period is as short as possible, follow these essential tips. A little bit more effort here and there can sped up the conveyancing process and save you a lot of time later.
- Perform pre-contract and post-contract searches quickly and catch potential issues early on.
- Resolve potential issues before they become problems — consult your conveyancer as soon as any issues arise.
- Stay in communication with your mortgage provider to expedite your mortgage approval.
- Use electronic document management and online communication tools to increase efficiency and ensure you don’t lose important documents.
Remember, it’s your purchase that all this hard work is for. Do your due diligence, and you’ll give yourself the best chance of reducing delays and allow your conveyancer to step in and do the best job they can.
Wrapping up
By following these expert tips when buying your property, you’ll guarantee smooth and stress-free property transactions minimise delays in conveyancing. Take control of the process and communicate with your reliable conveyancer, and you’ll get a swift and successful outcome. If you require more help or advice, the expert conveyancers at Entry Conveyancing can provide invaluable guidance and professional services throughout the conveyancing process. With our conveyancing services in Victoria, NSW, and QLD, you’ll navigate the complexities of property transactions with ease and minimal delays.
