Research from Move with Us shows 84% of home owners instruct conveyancers too late in the moving process.
One of the UK’s largest independent estate agent networks has released research data showing that there are a high number of home movers acting too late when it comes to instructing their conveyancer on their sale or purchase, causing significant delays in the home moving process.
Move with Us say that instructing a solicitor early on in the moving process speeds up transaction times and reduces fall through rates.
The survey, which was carried out within the Move with Us network, revealed that, rather than instructing a Solicitor at the time of marketing their property or when taking that first look, customers were only instructing a conveyancer once an offer to sell or buy had been accepted.
According to Move with Us, sellers that instruct a conveyancer at the outset of marketing their property and are legally prepared much earlier on in the transaction could move up to 11 days sooner, on average. The estate agency network also believes that instructing a conveyancer early on can lower the risk of the buyer or seller pulling out of the transaction.
Robin King, Director at Move with Us, said:
“The property market is quickly gathering pace and it is likely that there will be more buyers than sellers on the market this year. With such increased competition, being legally prepared early puts buyers in a good position by being able to stand out from the competition and demonstrate that they are a serious, motivated and reliable contender.”
“There are lots of steps that home owners can take to speed up their move and reduce the chances of their sale falling through. This is particularly important in the current market as larger volumes of files for solicitors to work on are naturally increasing transaction times as they try to keep up with demand.”
Traditionally it has always been that buyers will only consider a conveyancing solicitor once they have had an offer accepted. Is there anything a conveyancing solicitor can do to change this?