The property market has experienced a boom in recent months as more people decide to up sticks and move elsewhere. The coronavirus pandemic has also changed what buyers desire from their home. More space, a home office and a garden are all top of the priority list for buyers.
However, what may be more important, especially with the stamp duty holiday deadline slowly approaching, is the speed of the transaction.
Rightmove spoke to three property experts Abby Bulley, Sales Progressor at Henderson Connellan, Chris Carney, Sales Director at Chestertons and Peter Ambrose, who heads up a conveyancing firm called The Partnership.
The experts shared what questions you should be asking to help speed up the buying process.
What is the position of the buyer?
Rightmove said communication is key when it comes to buying a home, especially if you want the process to be smooth.
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If you’ve had an offer accepted on your dream home, you need to know where they are in their own home moving process.
Do they already have a home they are planning to move into? Are they already part of a chain? When are they looking to move?
Should I use a mortgage broker?
Speaking to a mortgage broker could help speed up the moving process, according to the experts.
Your broker can help chase people and contact your bank or building society directly.
However, mortgage brokers will charge you, so be mindful of how much you could end up spending.
According to Rightmove, the mortgage application process is taking longer than usual right now so if you ask the question early, it’s more likely to speed up the process.
What paperwork needs to be completed?
As you may be aware, estate agents and solicitors require a lot of paperwork that needs to be readily and quickly available.
If you already know what you need to have, when they ask for it you will be more prepared which should avoid delays.
Asking your solicitor is the best way to know what you will need.
Rightmove has suggested you may need this documentation:
- HM Land Registry title documents
- gas checks completed by a Gas Safe registered engineer (or Corgi-registered engineer prior to 2009)
- electrical checks – an Electrical Installation Condition Report (EICR) or a NAPIT or NICEIC certificate/report from a registered electrical competent person
- FENSA or CERTAS certificates for windows
- planning permission for any major work carried out
- building regulation completion certificates and builder’s guarantee certificates for alterations or additions
- subsidence guarantees/warranties
- damp guarantees/warranties
- party wall agreements (if relevant)
- if a listed building, listed building consent for interior and exterior works
- if your home is in a conservation area, conservation area consent for works
- any title insurance policies you may have taken out to solve title defects