Property deal

Finalising the property deal and keeping it on track until exchange of contracts and completion.

Getting the property deal is important. Once you've made an offer and it's been accepted then don't let go. 

communication is key. You found the property, you want it to be your home so you personally need to oversee and control the transaction.

Property deal - don't let them drop out! 

No one is legally obligated in the property deal at this time; both buyer and seller can move the goalposts, change their mind or walk away until contracts are exchanged. 

However, agents and vendors are less likely to let your purchase lose priority, if you're actively demonstrating how committed you are. Expectations need to be managed and momentum maintained.

Property deal - how to keep everyone informed

Keep the agent regularly informed of progress. Don't wait for them to call you and be careful not to rely completely on everything they tell you, because as you know they represent the vendor not you the buyer.

This is often an emotional period for both buyer and seller. Be wary of allowing 'principles' to block progress. Focus on the bigger picture. There are nearly always issues to work through so try to think creatively.

Property deal - how to keep things on track until you move in

Gaining momentum in the transfer of information between solicitors will be a big advantage. See also the conveyancing process for more information on stages from offer being accepted, through searches and legal aspects, until exchange of contract and completion of the property deal when you can move into your new home. 

Other popular articles

Conveyancing Solicitors

House conveyancing process

EPC's costs

Making an offer to buy

Mortgage redemption fees