Is it too late to complete before Christmas?
Although you might not want to consider it yet, it’s never too early to think about the C word – Christmas – especially if you want to put your tree up in a new property this year.
The end of 2022 will be with us in no time and if you are desperate to move home in time for Christmas, statistics show you could already be too late, even though we’re still using up the last of our factor 50 sun cream!
Move Places look at the factors that are causing current delays to the moving process and explains how you could avoid them by selling through us.
Time to exchange is dragging on
The time it takes between the start of a property search and the crucial milestone of exchange is now taking us beyond Christmas. In fact, the latest figures from Zoopla show the average time taken from starting to look for a new home to exchange of contracts is currently around 170 days.
Bear in mind that this wait of five and a half months only relates to those selling on the open market with the usual High Street agents. Other agents and alternative sales methods continue to deliver much quicker transactions.
Market slowdown
The slowdown in the market is also causing delays, as the number of transactions are dropping due to a lack of available stock and rising mortgage rates.
Conveyancing delays are also adding to the picture. These hold-ups have caused mortgage offers to expire, with borrowers having the secure new deals before they can proceed with their purchase.
An ‘archaic’ system
Many industry professionals have branded the conveyancing process ‘archaic’ and suggest that it is causing transactions to drag on far longer than necessary. They believe a big shake up of the system is needed and creating a shared digital platform is key but as there are no firm plans to change the process yet, buyers and sellers are caught up in a system that can be very sluggish, costing both parties time, money and stress.
An express sale exists
Move Places is a specialist quick sale agency and our aim is to sell any property on the open market within 28 days of instruction. It’s a pledge many High Street agents simply can’t match as they don’t have the infrastructure, resourcing or contacts we do here at Move Places. As well as a database of more niche, keen buyers who move outside of conventional estate agents, our sister company, Open Property Group, will make any seller a cash offer with exchange in seven days, if a buyer is urgently needed.
Consider selling at auction
If you’re keen to hang your wreath on a new front door this coming Christmas, we offer another speedy sales alternative. Move Places runs property auctions in addition to its express property sales service. We can sell any property at auction, with sellers gaining a head start in the transactional process, as exchange happens on the day the gavel falls. The transaction will also benefit from a legal pack being prepared upfront, shaving valuable time off the standard transactional process.
Let us help
Move Places will get your home sold and completed well before Christmas, whether you use our specialised open market sales service first, opt directly for our auction route or sell for a quick cash offer using our sister company. Contact us for more details and a free valuation of a property you own.