So you have found a buyer for your property – a major hurdle overcome.
You have found a Conveyancing Solicitor offering cheap conveyancing fees – great.
The Solicitor has even called you up to introduce himself (all too often they won’t) – brilliant, your sale is as good as in the bag.
But what is your Conveyancing Solicitor actually going to do next?
A good one (by which I mean a proactive Conveyancer) will ‘crack on’ in earnest and compile the Draft Contract.
The Draft Contract is essentially a template legal document (at this stage at least) that details the terms of the sale and the names of the buyer and seller.
This is then sent to the buyer’s Conveyancing Solicitor who in turn receives and negotiates the draft contract on the buyer’s behalf.
Most Solicitors will get the Draft Contract out within 48 hours and this is pretty good going. However it is not unheard of for some to sit on this for weeks with the poor buyer none the wiser.
What can you do to make sure this vital start to the Conveyancing Process gets underway as quickly as possible?
Conveyancing Insider Tip: Ask your Solicitor how they intend to converse with the buyer’s Conveyancer. Tell them that your preferred means of communication is email as days can be lost (not to mention the document itself) waiting for the Royal Mail.
72 hours after your Solicitor receives the ‘Memorandum of Sale’ from your estate agent (trust me your agent won’t hang about) call them and ask if the Draft Contract has been sent out.