You instructed a Property Solicitor some 4 weeks ago and forgot all about it until you received an offer on your property.
Firstly you should have received a Client care pack and terms of engagement. On receipt you would complete this and send it back hoping that the Solicitor would get the basics done. If you haven’t done this then the conveyance cannot start and importantly your instructed Solicitor isn’t actually instructed at this point.
The instruction is valid when you send back the signed terms.
In this instance the Solicitor over the past 4 weeks should have been in touch. If they haven’t then you need to consider switching to a new Solicitor.
A Solicitor wants your transaction to progress fast so that they get paid and they handle in some cases 48 per month. Can they really manage that amount!
Well with cases taking 3 – 4 months to complete the Solicitor could be managing 200 Clients. Now that’s not easy and they will need an assistant.
When you are considering instructing a Solicitor you want to know what case load they have and how many staff they have to help them. It doesn’t matter how great their back office systems will be, as it will be the inbound calls from Clients that will be demanding on everyones time.
So many Solicitors now take messages or use their receptionist to field the calls. This makes the whole process stressful. You want someone that manages the conveyancing process providing an excellent Customer service.
So the best Solicitors create priorities to manage their current Client base.
The importance initially is to get the Client to instruct and they then follow with sending out the required start up paperwork. They will then follow up with a call to explain the benefits of starting the conveyance before offer acceptance stage.
The Solicitor will at this point make notes on the Clients current situation, such as offer accepted on a property but waiting for Survey results. Every Client makes a decision based on their circumstance. Not every Client wants to wait for the Survey results before they push their conveyancing. Some realise that they want the conveyance to move swiftly and searches to be applied for before Survey results. With Local Authorities taking many weeks this should be considered especially if the Client has within their conveyancing quote a search pledge – See the purchase quotes from the Homebuyer Conveyancing panel website.
The priorities for you will be:-
Instructing a Homebuyer Solicitor on Your Property Sale combined with a potential property Purchase using your proposed new Lender
Offer acceptance on your property Sale
Survey Results on your property Sale. The Buyer may pull out or renegotiate the price.
Found a property and offer accepted
Survey results on your property Purchase
Exchange of contracts on your Sale and Purchase
Completion dates agreed
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At each point above further issues must be considered. If your Buyer has a Survey and it highlights issues with your property, should you carry out works or simply ask for a reduction in price?
Reducing the price doesn’t really help as the Buyer may have problems with the Lender re getting the full amount of the loan. They maybe involved in a property chain which has all the hallmarks of going wrong.
The advantage with you the Seller carrying out the works is that you keep the accepted offer price, If the Buyer pulls out, you know that you can get other potential Buyers and you know that works having being carried out resulting in the new Buyer getting a great Survey creating that important buzz of getting a home that they want.
So the bottom line is extremely simple. When you instruct a Solicitor you should receive paperwork with the terms and you need to return paperwork promptly. If you don’t then you should receive a call from the Solicitor explaining the benefits of instructing before acceptance stage.
Compare fixed fee conveyancing quotes that include a search pledge. This really does help your situation. Avoid delays that could cause your transaction to fail
Alarm bells should be ringing.
Firstly you should have received a Client care pack and terms of engagement. On receipt you would complete this and send it back hoping that the Solicitor would get the basics done. If you haven’t done this then the conveyance cannot start and importantly your instructed Solicitor isn’t actually instructed at this point.
The instruction is valid when you send back the signed terms.
In this instance the Solicitor over the past 4 weeks should have been in touch. If they haven’t then you need to consider switching to a new Solicitor.
The Best Solicitors
A Solicitor wants your transaction to progress fast so that they get paid and they handle in some cases 48 per month. Can they really manage that amount!
Well with cases taking 3 – 4 months to complete the Solicitor could be managing 200 Clients. Now that’s not easy and they will need an assistant.
When you are considering instructing a Solicitor you want to know what case load they have and how many staff they have to help them. It doesn’t matter how great their back office systems will be, as it will be the inbound calls from Clients that will be demanding on everyones time.
So many Solicitors now take messages or use their receptionist to field the calls. This makes the whole process stressful. You want someone that manages the conveyancing process providing an excellent Customer service.
Doing It right
So the best Solicitors create priorities to manage their current Client base.
The importance initially is to get the Client to instruct and they then follow with sending out the required start up paperwork. They will then follow up with a call to explain the benefits of starting the conveyance before offer acceptance stage.
The Solicitor will at this point make notes on the Clients current situation, such as offer accepted on a property but waiting for Survey results. Every Client makes a decision based on their circumstance. Not every Client wants to wait for the Survey results before they push their conveyancing. Some realise that they want the conveyance to move swiftly and searches to be applied for before Survey results. With Local Authorities taking many weeks this should be considered especially if the Client has within their conveyancing quote a search pledge – See the purchase quotes from the Homebuyer Conveyancing panel website.
The priorities for you will be:-
Instructing a Homebuyer Solicitor on Your Property Sale combined with a potential property Purchase using your proposed new Lender
Offer acceptance on your property Sale
Survey Results on your property Sale. The Buyer may pull out or renegotiate the price.
Found a property and offer accepted
Survey results on your property Purchase
Exchange of contracts on your Sale and Purchase
Completion dates agreed
[/list]
At each point above further issues must be considered. If your Buyer has a Survey and it highlights issues with your property, should you carry out works or simply ask for a reduction in price?
Reducing the price doesn’t really help as the Buyer may have problems with the Lender re getting the full amount of the loan. They maybe involved in a property chain which has all the hallmarks of going wrong.
The advantage with you the Seller carrying out the works is that you keep the accepted offer price, If the Buyer pulls out, you know that you can get other potential Buyers and you know that works having being carried out resulting in the new Buyer getting a great Survey creating that important buzz of getting a home that they want.
So the bottom line is extremely simple. When you instruct a Solicitor you should receive paperwork with the terms and you need to return paperwork promptly. If you don’t then you should receive a call from the Solicitor explaining the benefits of instructing before acceptance stage.
Start as you mean to go on.
Compare fixed fee conveyancing quotes that include a search pledge. This really does help your situation. Avoid delays that could cause your transaction to fail