The conveyancing of property is a vital point in the process of buying/selling of a home. It refers to the hiring of a professional “conveyancer” whose job it is to help the title transfer and settlement process along to a reasonable conclusion. This is typically done by making sure their client meets all legal standards for such a transfer and that their rights aren’t being violated by the other party in any way, shape or form. However, this is rarely an open shut case, as this can be a complicated process that can take some time. If you’re looking for property conveyancing in Central London, you may be wondering how long exactly it takes. The answer is as follows.
Specific length
At the outset, a conveyancer can’t give a specific timetable for how long the conveyancing itself is going to take. When the process has just begun, there are simply too many variables to consider that hinder the conveyancer’s ability to give a real response to that question. The fact is that conveyancers would love little more than to be done with each of their clients in a single afternoon. However, there are many, many things that serve to get in the way of that goal.
Delay in survey access
Part of the application process is the lender requiring a validation survey, if not a full building survey. Acquiring permission to run this survey can be held up if the seller is being uncooperative with the lender or is hard to contact. The process cannot continue until this permission is received.
Delay in mortgage offer retrieval
It is often underestimated just how long it can take to get a mortgage offer. Despite what you may think, there is a wide gap between a lender pre-approving you for a mortgage, and having a mortgage. In truth, you can only apply for a complete mortgage once you’ve settled on a property you want to buy.
One would think that property conveyancing wouldn’t be this difficult, and maybe it shouldn’t be. But that’s how it is right now, so when going in for property conveyance, have reasonable expectations. This is probably going to take significantly longer than you initially planned. Click here for more information.