If you have previous dealings with property settlements, then you are aware just how long such a process can take. Even the slightest delay in such a process can end up costing you a considerable amount of money and can result in even more obstacles for you. Fortunately, there are several things that you can do to ensure that the proceedings go as planned. This will guarantee that you will have the papers signed and money transferred within a much shorter period. Here is what you need to know:
Choose the Right Professionals
Unless you have the expertise necessary to get involved in such matters, your solicitor or conveyancer will be handling most of the tasks. This is why it is quite so important for you to be certain that you are hiring the right firm or individual. First and foremost, thoroughly vet the person or company that you want to hire and ensure that they are consistent in their work. Even then, it will benefit you to speak to them beforehand about future proceedings. Make it a point to get as much information as possible, including a rough timeline. This should give you some idea of how diligent this particular individual is.
Be Thorough with Paperwork
One of the main factors in the settlement process is paperwork. You need to have a variety of documents on hand such as property certificates, contracts, cheques, title documentation, and more. Not only does the information on these documents need to be accurate, all of the details should match. Thus, any information that is present in one document should be mirrored in another, where it is required. In the event that it is not, the process will be delayed. So, you will need to always check all of the paperwork that is with you thoroughly and be sure that all of it is above reproach.
Take Care of the Important Issues Ahead of Time
Some of the more common reasons for settlements being delayed is because of late inspection problems, bank-related issues, or late documentation. The best way to make certain that these things won’t become a concern is to take care of them ahead of time. This means talking to your bank and understanding how the loans and the mortgage will work. You should also ensure that all of the inspections are handled long before and don’t wait until the last minute. Finally, it is imperative that you hand in all of the documentation you are required to well before the due date.
Consider Electronic Conveyancing
A sure-fire way to reduce the number of mistakes that can be made is to conduct a large portion of the process online. Thanks to the concept of e-conveyancing being more widespread, this is rather common now. As both parties pool resources online, there is a less chance of any errors being made as all of the documentation is easily accessible. What’s more, this particular route also allows all individuals to gather online at more convenient times. This way, there are no travel delays or similar issues and you can finish things up much more quickly.
As you can see, property settlement isn’t a process that has to be needlessly dragged on. As long as you know how to keep things moving, you will be able to get everything handled rather quickly, allowing you to take the next step.