In many cases, one of the things that makes a home move so stressful is the fact that nothing can be confirmed until mere moments before the removal van needs to depart. Lengthy chains and complicated transactions can equate to the uncertainty that the move is ever going to happen, never mind knowing when.
Nobody wants to have to call the removals company to ask them to turn around and unload because of a complication in the process, so let’s look at the common causes to help you avoid a complete nightmare.
According to the Daily Telegraph, there are four common causes for a delay to a home move, some of which can be mitigated against whilst others are really down to keeping your fingers crossed. These include:
Moving the money
When homes are purchased, a great deal of money changes hands across the chain. A mortgage lender will release funds, which get sent to solicitors and then transferred to lawyers representing the vendors. If the funds are held up, or in the case of a long chain with a large number of transactions needing to take place before yours, you run the risk of your funds not being transferred in time. Calls to solicitors to find out the state of play can help, but your fate is ultimately in the lap of the gods.
When someone is purchasing a home, there are a number of costs incurred: conveyancing fees, stamp duty, commission, and a multitude of other items that will need to be paid for prior to completion. Whilst you can be diligent over ensuring you have the funds available to cover your own costs, it is less feasible for you to know about the rest of the chain.
If you are unsure about the fees associated with buying or selling a property, more information is available from professions such as https://www.samconveyancing.co.uk/news/conveyancing/conveyancing-costs-explained-3366.
When a home is purchased, the role of the solicitors acting for various parties is paramount. If the solicitor representing one of the parties in the chain goes off the radar at the crucial moment, this can cause confusion and delay. Ultimately, the best way to mitigate against this is to be crystal clear about your expectations for completion, including the date and the time of day.