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  • Property-a-holics

    Tips to speed up exchange process for buying?

    I was just wondering if people have certain strategys when purchasing to speed up the process as this can have a massive impact on the profit you can make within a set time frame.

    I will soon be looking to buy another flip but my current one took 5 months despite no chain. This was apparently due to the sellers solictors losing documents and the seller themselves being particularly slow (a divorced couple both with new properties).

    Is there anyway to get an express service rather than the "typical 2-3 months?".

    I have previously thought about asking the seller to use the same solictor as myself to save time lost in communication and an additional 3rd party.

    Does anyone have any tips or recommendations on speeding up the process? And whats the fastest exchange you've ever had?

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    A question dear to my heart Liam, our last purchase took 5 months and it was a cash purchase with no chain!

    I contacted a few different solicitors for our current purchase, asking them about their current case load/capacity to complete quickly.  I also offered to pay a premium over their standard fee, as this BTL is quite new, immaculate and ready to rent.  The one I've chosen said 3 months is the longest conveyance process he's done, and he thought he could complete mine in 6 weeks as the seller and the seller's solicitor are also keen to complete asap.  No additional fee required, and in fact it was a bit cheaper than the last old dodderer I had. 

    Both my and the seller's solicitors reckon it'll be done and dusted in 6 weeks.  I'll report back and let you know if the time frame was met!

    BTW - it's highly undesirable to use the seller's solicitor.  You need someone working in your best interests, and yours only.

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    Hi Beth.
    Just looking through a few threads on speeding up the process and saw your post.

    Did it go through in the 6 weeks as expected? If not what were causes of delays please?

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    I bought one four hours after papers were received – to completion. That’s unusual but in general, tee up solicitors first, use email rather than post, arrange finance before you agree to buy, manage the seller’s expectations, be prepared to overlook minor issues. 

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