As the stamp duty deadline draws near, both buyers and sellers can take proactive measures to facilitate smooth and efficient property transactions.
This month is seeing many more properties come to the market amid the upcoming stamp duty deadline, so prepare your action plan in the right way.
Tips for Buyers:
1. Get your finances in order
Prior to commencing your property search, make sure you have your mortgage agreement in principle secured. This shows sellers that you are committed and financially ready, potentially accelerating the process.
2. Instruct a solicitor early
Select a conveyancer who has a strong background and a successful history of managing a large number of transactions efficiently. Engage their services promptly after your offer is accepted to reduce any potential delays.
3. Be responsive
Promptly address any requests for information or documentation from your solicitor, lender, or estate agent. Any delays on your part can accumulate, particularly as many others are also striving to meet the same deadline.
Tips for Sellers:
1. Prepare your property documents in advance
Collect essential documents, including title deeds, warranties, and planning permissions, as early as possible. Submitting a comprehensive information package at the outset can help prevent delays in the legal process.
2. Select the right buyer
Although a more attractive offer might be appealing, opting for a buyer who is prepared to move forward (such as cash buyers or those with a mortgage pre-approval) can minimize the chances of delays or transactions falling through.
3. Instruct a solicitor when listing
Hiring a solicitor when listing your property for sale enables them to begin preparing the required documents right away, which helps save crucial time once an offer is made.
