Research confirms rising expectations from conveyancing clients.
Research by myhomemove, the UK’s leading provider of mover conveyancing services, has revealed that the length of time between ‘exchange and completion’ when buying or selling a property, has dramatically decreased in recent years.
The traditional industry standard of 28 days has been shortened in 85% of cases to within 14 days, and in nearly a fifth of cases reduced to simultaneous exchange and completion, as people expect ‘instant results’ when buying or selling their home.
myhomemove research* has revealed that:
– 16% of home movers exchange and complete on the same day
When asked by myhomemove for their views on this shift, nearly 40% of estate agents believed it is down to their client expecting “things to happen instantly” — an expectation that has been developing since 1990s; the last time estate agents regularly remembered the time between exchange and completion being 28 days.