Why PROPERTY PURCHASES Get STUCK at the LEGAL STAGE: 3 Ways to Keep Your Deal Moving

You can have the mortgage offer ready and your own side of the transaction moving, but one outstanding legal point can still stop the whole purchase from completing. In Episode 126, Mark Watts looks at the seller's solicitor and the part they can play in a property transaction timeline. While a buyer has far less control over the seller's solicitor than their own, Mark explains three practical ways investors can influence the process around them and keep a deal moving. In this episode, Mark discusses: ·       Why the legal process can account for a large proportion of an eight to 12 week property transaction. ·       How getting the seller organised early can prevent their solicitor waiting for forms, certificates and other key information. ·       Why property information forms, planning permissions, building regulations, warranties, leases and guarantees can become bottlenecks. ·       How to use the estate agent as a practical route into the seller and their solicitor. ·       Why chasing for an update is less effective than identifying the exact issue preventing progress. ·       How to create a shared completion objective and explain why a particular deadline matters. ·       Why working backwards from the completion date can turn an unclear 'ASAP' request into a timetable of actions. ·       How delays can carry a real financial cost on bridging, development and other deadline-sensitive transactions. If you're buying an investment property and want to reduce avoidable delays between mortgage offer and completion, this episode gives you three practical ways to keep everyone focused on what is actually holding the transaction up. If you're arranging finance for a property purchase, bridging transaction or development and want a broker who can help keep the finance moving alongside the wider completion process, get in touch with the team at Prime Property Finance. Contact us now if you would like to know more Home - Prime Property Finance Disclaimer This podcast is produced by Prime Property Finance, an independent mortgage brokerage. The views expressed are for general information purposes only and do not constitute personal or financial advice. Listeners should avoid taking action based solely on the content discussed and are encouraged to seek advice tailored to their individual circumstances. The information shared reflects the personal opinions of the hosts and any guest speakers and does not necessarily represent the views of Prime Property Finance as a company. Prime Property Finance is not responsible for any losses or actions taken as a result of this podcast. Privacy Policy - Prime Property Finance