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House prices rise in July, but completions fall? Is Conveyancing to blame?

The Land Registry’s house price index has confirmed that prices rose in July.

This should be good news for Conveyancing Solicitors, but the decrease in the number of sales which successfully completed will give rise to concerns that the market remains unstable.

Data indicates that there was a decrease in the overall number of transactions where the Conveyancing was completed and the house sold, from 52, 170 in May 2010. to 46, 870 in May 2011. This represents a significant drop of 10%.

So what can my Conveyancing Solicitor do?

Your Solicitor cannot control a sudden rise or fall in the market, and they cannot control the other side’s jitters. But they can, and should, act promptly and proactively to chase up both outstanding paperwork, and also any issues which may delay completion.

By working closely with your Solicitor, answering queries and returning completed forms as soon as possible, you are doing your part. However, a little research before you instruct, finding a lawyer with a solid track record of satisfied clients, is probably the most important step you should take toward improving your chances of completing sooner.

Do not mistake high prices for quality of service. Some of the most expensive firms on the market can also be the slowest, as they have failed to become more efficient to stay competitive and remain resolutely ‘old-fashioned’ in their approach.

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