Fridaysmove discusses high-speed exchanges for buyers and sellers in a rush
What is Attended Exchange?
It’s too early to say at this point in time, but Brexit may see a rush of people looking to complete their sale or purchase quickly. Attended Exchange is described by The Times as the “proper term for a speedy house purchase”, requiring buyer and seller — and both solicitors — to sit down and rapidly put together the exchange of contracts, securing their property sale often in an afternoon, sometimes only a day after an offer has been accepted.
Attended Exchange is something Fridaysmove can organise for you. Just get in touch for a free quote and to discuss your requirements: 0800 038 6446.
Why go through the Attended Exchange process?
In a rush to avoid uncertainty following the Brexit vote, both buyers and sellers may be moving faster on their property transactions than they otherwise would. As there will not be any immediate change from Britain leaving the EU, people are looking to continue with their plans, but perhaps move a little faster, given that we don’t currently know the change Brexit will have on the property market. Attended Exchange is a way for buyers to snap up a property in a rush, and for sellers to go through a quick and efficient transaction with a buyer who is keen to complete quickly.
Why the return of the Attended Exchange?
As we wrote about in 2009:
Like gazumping, the phenomenon of the ‘attended exchange’ resurfaces when sellers start to hold the balance of power in the property market. Over the last few weeks it has been widely reported that as a result of a shortage of properties being placed on the market desperate buyers are looking at creative ways of ensuring that they purchase a property that they desire. Some top end estate agents have even been speaking about ‘sealed bids’ whereby multiple buyers place bids (theoretically in secret) for a property on a given day and the Seller proceeds with the highest bidder. The speed of transaction is often a determining factor when a seller decides who to sell to and there is nothing quicker than an ‘attended exchange’. Read article in full
How to find an Attended Exchange solicitor
Unlike in 2009, Fridaysmove can now help you to find a solicitor who is high quality and also prepared for the time pressure of completing an Attended Exchange. As this is one of the more unusual conveyancing processes, why not give our property experts a call to discuss your current situation? We can talk about the process in full, and help to find you a solicitor who can process your Attended Exchange: 0800 038 6446.