The property market may be uncertain, but preparations needn’t be
Summary
The article argues that, despite uncertainty ahead of the Budget, buyers and sellers can reduce transaction delays by preparing early. It highlights the importance of organising financial evidence for AML checks, reviewing title documents in advance, and starting leasehold information requests early to keep conveyancing moving.
Why it matters
Residential property surveyors often support transactions where delays arise from missing documentation, leasehold information requests or title issues. Understanding these common bottlenecks helps surveyors manage client expectations and coordinate more effectively with conveyancers and agents.
Key points
- Early preparation can reduce delays in property transactions even when the market is uncertain.
- AML checks may be slowed by complex deposit histories, gifts and missing bank statements.
- Leasehold sales can be delayed by management information requests such as LPE1 and FME1 forms.
- Reviewing title documents early can help identify issues before a buyer is ready to proceed.
- AI-generated enquiries should be checked carefully against title documents to avoid unnecessary delays.
Organisations:
Conveyancing Association, Today’s Conveyancer
Regulations:
Anti-Money Laundering (AML)
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