Why the UK needs to be closer to Australia (on moving home)

By Shaun Adams Subscribe to newsletter

Why the UK needs to be closer to Australia (on moving home)

Why does it take 4x as long to move home in the UK?

In Australia most buyers move in a month after agreeing a sale, in the UK the average is four months.

The longer it drags on for, the more time for buyers to change their mind.

In the UK after a sale is agreed sellers can take four weeks to collate the property info with their solicitor for their buyer’s solicitor to check. The buyer’s solicitor applies for searches (further checks), sometimes these can take weeks. There are always gaps (enquiries) in the info and this takes another 12 weeks to fill in the gaps.

In Australia, 99.9% of the property info is done in advance of agreeing a sale. Most times a buyer’s solicitor is completely satisfied with this pack. Searches are done digitally and instant. From agreeing the sale to exchange of contracts it’s two weeks and two weeks after is completion/moving in day.

At Cooper Adams we can't wait for solicitors to improve – it could take tens of years. What do we do differently to all other agents to drastically speed up the process and also make it more secure for the seller and buyer?

1.    We try and get buyers and sellers to formally instruct a solicitor before anything else, saving a week or two. (No other local agents do this.)
2.    We help our sellers collate all the legal info needed before we launch their property to market, including answers to enquiries, saving months. (No other local agents do this.)
3.    We are becoming more and more insistent on a buyer being purchase-ready before they view. Ie Mortgage ready and solicitor instructed, saving weeks. (No other local agents do this.)
4.    We ask sellers and buyers to legally lock in when an offer is agreed, stopping a party pulling out on a whim after months of the transaction time.  (No other local agents do this.)
5.    Our aim is to send out the draft contract ourselves when a sale is agreed and the buyer’s solicitor to apply for searches the next day. (No other local agents do this.)

If all of this is in place with no chain above our seller or below our buyer - a buyer can, in theory, be ready to exchange contracts in two weeks, with completion two weeks after.

We believe our systems implemented properly will make us the most proactive agents in the UK.

What do you think?

I welcome any ideas people have on how we can make further improvements.

Many thanks Shaun Adams