Conveyancing - Can it be done when you're on holiday?
Discussion
We're currently trying to sell our house, but finding the market is pretty slow. It's driving us slowly insane, so we're contemplating going on holiday in September / October - maybe for as long as 4 weeks. We wouldn't book the holiday until a few days before leaving.
We already know where we want to move to.
If we, by some miracle, received an acceptable offer on our house whilst we were on holiday, how practical would it be to kick off and progress the conveyancing process. It's been 25 years since we moved, so I don't really remember what's involved and I'm sure things have changed a fair bit too.
I'm aware that there are AML hoops to jump through, and also a property information form, but beyond that I've got no idea. We would be porting our existing mortgage and not looking for any additional finance.
We could always have a contingency plan to return home early, but I suspect with a little preparation (a few documents scanned and saved on my laptop) that we could make decent progress without needing to return home. Obviously it would be challenging to meet the buyers in person, and going through the property information form without being able to look in each room might be a bit tricky.
I'm not thinking that we'd get all the way to Exchange whilst on holiday, just that we'd be able to make almost as much progress through the process as if we'd been here.
It's also probably worth pointing out that I wouldn't be looking for travel insurance to cover any changes of plan.
We already know where we want to move to.
If we, by some miracle, received an acceptable offer on our house whilst we were on holiday, how practical would it be to kick off and progress the conveyancing process. It's been 25 years since we moved, so I don't really remember what's involved and I'm sure things have changed a fair bit too.
I'm aware that there are AML hoops to jump through, and also a property information form, but beyond that I've got no idea. We would be porting our existing mortgage and not looking for any additional finance.
We could always have a contingency plan to return home early, but I suspect with a little preparation (a few documents scanned and saved on my laptop) that we could make decent progress without needing to return home. Obviously it would be challenging to meet the buyers in person, and going through the property information form without being able to look in each room might be a bit tricky.
I'm not thinking that we'd get all the way to Exchange whilst on holiday, just that we'd be able to make almost as much progress through the process as if we'd been here.
It's also probably worth pointing out that I wouldn't be looking for travel insurance to cover any changes of plan.
The biggest issue is likely to be the identity/anti money laundering checks that are required - so I’d contact the solicitor you’re intending to use and confirm what they will require and if they would be happy to get all that put in place before you leave.
Most of the day to day stuff should be possible via phone/e-mail.
Worrying about signing contracts etc might be a bit premature, but there are options such as potentially using digital signatures or a power of attorney, but once again, your solicitor will confirm the options that they are happy with.
Most of the day to day stuff should be possible via phone/e-mail.
Worrying about signing contracts etc might be a bit premature, but there are options such as potentially using digital signatures or a power of attorney, but once again, your solicitor will confirm the options that they are happy with.
The sticking points might be:
selecting a solicitor and jumping through their hoops re ID etc.
Property info form
Dealing with any queries from the buyers.
You could sign up with a solicitor and get the property form from them or the web.
You could get your paperwork in order for any guarantees, planning permission etc that the forms are likely to generate queries about.
In terms of making the deal happen, it's driven by the slowest link in the chain.
So you might want to have your purchase lined up and prepare to deal with any hurdles on that side, be ready to push the button on a survey or whatever.
It seems that in the early stages of selling, once you've instructed a solicitor there is a lot of waiting.
Where it could get tricky is if you get an offer that's marginal.
Then you need to be active as a buyer to negotiate your purchase down, or shopping for alternative purchases, and maybe doing whatever market research you need to understand if you should be accepting the offer.
Each season is different and the looking you've done during Spring and Summer may need doing again.
Maybe it depends on the type of holiday, but I'd go.
We're not talking about being uncontactable mid Atlantic are we?
selecting a solicitor and jumping through their hoops re ID etc.
Property info form
Dealing with any queries from the buyers.
You could sign up with a solicitor and get the property form from them or the web.
You could get your paperwork in order for any guarantees, planning permission etc that the forms are likely to generate queries about.
In terms of making the deal happen, it's driven by the slowest link in the chain.
So you might want to have your purchase lined up and prepare to deal with any hurdles on that side, be ready to push the button on a survey or whatever.
It seems that in the early stages of selling, once you've instructed a solicitor there is a lot of waiting.
Where it could get tricky is if you get an offer that's marginal.
Then you need to be active as a buyer to negotiate your purchase down, or shopping for alternative purchases, and maybe doing whatever market research you need to understand if you should be accepting the offer.
Each season is different and the looking you've done during Spring and Summer may need doing again.
Maybe it depends on the type of holiday, but I'd go.
We're not talking about being uncontactable mid Atlantic are we?
Straight answer to your question is yes.
Perhaps organise the solicitor you intend to use first and at least go through the boring ID / AML check procedures as already suggested - this is also possible electronically.
I assume you will have a contactable phone number / email address anyway for hopefully when the offer comes in.
If not is there someone at home that can be instructed as to what your response would be ?
The physical signing of title deeds etc can also be done remotely.
Perhaps organise the solicitor you intend to use first and at least go through the boring ID / AML check procedures as already suggested - this is also possible electronically.
I assume you will have a contactable phone number / email address anyway for hopefully when the offer comes in.
If not is there someone at home that can be instructed as to what your response would be ?
The physical signing of title deeds etc can also be done remotely.
Thanks for all the replies, pretty much confirms my thinking but nice to have it validated.
Phone, Text, Email, Whatsapp and also laptop will be available and will work fine. Getting ahead of the AML checks is a good idea.
I suspect that IF we do get a viable offer whilst we're away, our enthusiasm for the holiday will dwindle pretty quickly. We had something similar about 30 years ago. There were some delays with the Exchange, due to the recently divorced vendor needing to win a custody battle so she could return to the US with her daughter. We decided to go on holiday as a distraction, but our hearts really weren't in it and we came home early. We were touring France on a night by night basis, so it wasn't a challenge.
Now we've just got to get through the school summer holidays. There's no way we're going on holiday during them but I'm not expecting much activity in the housing market either. Oh well.
Phone, Text, Email, Whatsapp and also laptop will be available and will work fine. Getting ahead of the AML checks is a good idea.
I suspect that IF we do get a viable offer whilst we're away, our enthusiasm for the holiday will dwindle pretty quickly. We had something similar about 30 years ago. There were some delays with the Exchange, due to the recently divorced vendor needing to win a custody battle so she could return to the US with her daughter. We decided to go on holiday as a distraction, but our hearts really weren't in it and we came home early. We were touring France on a night by night basis, so it wasn't a challenge.
Now we've just got to get through the school summer holidays. There's no way we're going on holiday during them but I'm not expecting much activity in the housing market either. Oh well.
If there is any possibility you might need to transfer money, make sure you can do it while you're away!
Our timelines changed a bit while we were on holiday and the money was going to need to be transferred before we got back. It turned out the 2FA via a mobile phone had a maximum limit considerably less than our deposit, but luckily our bank was happy to send us a new e.identfier in the post which arrived in time. Otherwise I was going to need a last minute easyjet flight!
Our timelines changed a bit while we were on holiday and the money was going to need to be transferred before we got back. It turned out the 2FA via a mobile phone had a maximum limit considerably less than our deposit, but luckily our bank was happy to send us a new e.identfier in the post which arrived in time. Otherwise I was going to need a last minute easyjet flight!
blueg33 said:
Its no problem. If anything need a signature whilst you are away you can give your solicitor power of attorney before you leave.
This.I bought my first house while I was in and out of the country on a regular basis. My solicitor was given authority to sign stuff on my behalf.
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