“Why does it take so long?” – This is a question that every Conveyancer or Conveyancing Solicitor gets asked at least three times a day.
These days, most things can be done instantly. From transferring money to your friends, to purchasing goods that are then delivered the next day. So why does it take so long for a Conveyancing matter to conclude?
Let me let you into a secret. Advances in technology these days means we can do things faster. However, it doesn’t mean the law has moved on too. Unfortunately, the rules regarding conveyancing are forever growing and we are tasked with more and more admin in order to get the files through in a way the Solicitors Regulation Authority (SRA) requires.
Breaking down the Conveyancing process
When a client returns completed initial paperwork, that paperwork is then looked at, in detail. Systems are updated or questions are asked as a result of the information. We then have to wait for responses to those questions before moving on.
Documents
In a sale file, we then request Title Documents, which yes are immediate, thanks to H M Land Registry updating their working practices, but these also need looking at and information updating and sometimes further documents need requesting that they do not have an electronic copy of and they have to be posted to us.
We can then draft a contract and send it together with supporting documents to the other side’s conveyancer. This is where it becomes time consuming.
When the conveyancer receives the draft contract pack, they have to look at everything. They are checking the title to make sure the property is as advertised, make sure there are no scary things contained within the title that could affect a re-sale. They look at the information the seller has provided and make notes of anything that needs further clarification.
Searches
They then request searches, which include Mining, Environmental and Local Search to name a few. They must wait for the results of those searches before being able to ask questions about them.
Most searches can, and do, come back quite quickly (within a week or two). However, some local authorities are taking weeks and weeks to supply results. Some having a wait time of 4-5 weeks at the moment.
These searches contain a lot of information about the property, the surrounding area and any future plans for the area and a lot of these searches are many pages of information. As a conveyancer, you simply cannot just skim through these documents, they must be read from cover to cover to make sure there is nothing worrying contained in them.
Enquiries
Once all the information is in, the conveyancer can raise enquiries. This is a list of questions sent to the seller’s conveyancer seeking clarity or further information on various points. As a conveyancer, we don’t have personal knowledge of every single property, so a lot of times these questions have to be passed onto the seller of the property, and of course another wait ensues for the seller to respond.
While this is happening, your conveyancer is also completing many risk assessments that are required by the SRA. They are checking your identity documents, looking at your source of funds information and source of wealth, and going through everything in order to satisfy the requirements of the SRA.
Report
Once all the information is in, it is necessary to report all the information to you, the client. This can take the form of one large report or several shorter reports, but all the information has to be passed on to you.
As you can imagine, collating all this information into a report is time consuming. Checking everything you have found out about the property and making sure the report is in English and not just legal jargon.
Once the client is happy with everything and paperwork has been signed, exchange and completion dates can be arranged.
In conclusion
As conveyancers, we know that it is frustrating to wait around, unsure why things are taking so long. As a client you might have even spoken badly about your conveyancer and the fact that things take so long. When in actual fact, they are probably working very hard and very quickly to make sure your transaction goes through smoothly.
Most of the time your conveyancer is just as frustrated as you are that things are taking a while to come through, but most of the time, it is out of the control of the conveyancer, as they are waiting for other conveyancers, local authorities or even mortgage lenders to send through information that has been requested.
Every client is important to us and we work incredibly hard to ensure that your transaction goes through as quickly as possible, with as few delays as possible.
Further reading
Purchases – Oakwood Property Solicitors
WHAT TO DO NEXT
To make a start on the next step in your property journey, get in touch today to book a consultation with a member of our expert team of Property Solicitors. Call us on 0113 218 5727 to find out how we can help you.
