Hello, my name is Robin and I own a medium sized business which is based in a suburb of Perth, Australia. Many business owners do not understand the importance of commercial law on their operations. I know that I certainly didn't when I set out. At first, this wasn't an issue but as my business grew, I realised that if I didn't teach myself about the legal rules in place and seek expert help, I would find myself in serious trouble. I got in touch with a great law firm who helped me to understand exactly what I needed to know. I decided to start this blog to help other business owners.
Selling or buying real estate, especially homes, is often exciting. Most of these transactions signify an important transition in your life. With all these emotions in mind, a slow conveyancing process might cause additional stress. This piece discusses the issue of delays in conveyancing, their causes and possible solutions.
Communication can be a significant problem, especially when the solicitor and other parties do not discuss issues promptly. For example, you may experience delays when you make an offer and take some time before alerting the solicitor. Therefore, ensure you have a conveyancer early on when searching for a property to purchase.
Another communication issue is when the other parties do not communicate their timescale. For example, you may want to purchase land, but the current occupant is travelling abroad during the negotiating process. Failure to communicate timescales causes delays in conveyancing. Your conveyancer can reach out to each party and ensure everyone is clear about dates and deadlines.
The rules governing mortgages at the national, industrial and institutional levels may cause delays in the conveyancing process. For example, you must alert the mortgage provider when the deposit was a gift. Sometimes the mortgage provider might require a signature to confirm that you will not repay the gift. Therefore, inform the mortgage provider and your conveyancer about any issues to avoid delays.
Mortgage providers may also interview you to ascertain that you can repay the loan. These interviews take time to schedule and analyse before clearing you. In addition, it might take you a few months to ensure your finances are in order. This process is lengthy but necessary for allowing yourself to get the mortgage.
Documentation errors might cause conveyancing delays. For example, mistakes made when filling in forms are a serious breach of ethics and may be offences in some cases. Therefore, take your time to fill in different documents and re-read them to ascertain that all details are accurate. You must also store these documents safely since the loss of items such as the deed causes a lot of delays.
Conveyancing delays may also result from a change of mind by the other party. Errors in paperwork, timing, offers or representation of facts on inspection documents might alarm the buyer. Your conveyancer coordinates communication with the other party and prevents errors when presenting different information in documents or during discussions.
Some common causes of conveyance delay include communication problems, mortgage issues and errors. Ensure you coordinate with a local conveyancing service when you encounter such problems.