Property brokers hoping to get properties offered earlier than Christmas are being suggested to encourage sellers to behave fast and alternate contracts by the tip of subsequent week.
With the market sometimes grinding to a halt in December, Holly Andrews, loans supervisor and director at KIS Finance, is warning brokers and distributors that alternate must be accomplished by 21 November to make sure the deal is accomplished for Christmas.
Andrews commented: “The property market adjustments dramatically in December, with completion timeframes extending from weeks to months. Late November represents the ultimate cut-off level for any affordable expectation of shifting earlier than Christmas.
“It is because authorized corporations usually function with decreased employees through the festive interval, with many closing fully between Christmas and New Yr. This staffing scenario creates a backlog of labor that pushes completions into January.
“Securing financing takes longer in December as lenders function with decreased capability. Functions submitted now may face processing delays because of the looming vacation interval.”
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