When a buyer has been founds for the property and a price has been agreed, the legal process can begin to transfer ownership to the buyer. The legal paperwork and transfer of money is handled by a solicitor or qualified conveyancer (England and Wales only).
The work involved is the same as that required for the sale of a main residence, the only issue being timing. A typical property sale takes 8 – 12 weeks, but can be delayed, or indeed speeded up, by various factors such as issues which arise from the various searches undertaken by the buyer’s solicitor and indeed the efficiency of the solicitors on both sides.
Timing becomes an issue for selling a holiday home as, if it is a successful let, there will be future bookings and guests arriving at the property. The seller of the property will need to make a decision as to how to handle future bookings.
This depends on the plan to sell the property; for example as a going concern with future bookings transferred to the new owner, or to make the property unavailable for lets. The appointed solicitor will also be able to advise on obligations and liabilities within the guest booking terms and conditions.
Choosing a good solicitor or licensed conveyancer can help make the sale stress-free with a prompt and professional service. These characteristics can be used to identify a good provider through customer testimonials, the size of the business and how many cases they handle and online reviews if available.
As conveyancing is now typically done through the post and e-mail, there is no need for face to face meetings. This has led to a number of online conveyancing services appearing offering the same services for less money. The reputation of these services can again be confirmed by testimonials and online reviews. Another tip is to ensure you have the name and contact details of the solicitor or conveyancer appointed to your case for easy communication.
One final check can be made by ensuring the appointed solicitor is regulated by the Solicitors Regulation Authority or for Conveyancers, the Council for Licensed Conveyancers.
