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Sales transactions - streamlining for the new financial year

Posted: 15/03/2024

With the new financial year nearly upon us, it is an opportune time for everyone involved in sales to review and implement new procedures aimed at minimising delays and ensuring smooth exchanges. Through a proactive approach and strategic adjustments, all parties can navigate the process more efficiently and expedite the path to homeownership.

Prioritise setup and legal requirements

Good communication and efficient handling of the legal requirements early on are essential to prevent delays in sales transactions. Establishing clear timelines and expectations with all parties can help keep the process on track. Additionally, sales training delivered to development teams allows them to fully understand the process and its role in ensuring that transactions are as smooth and trouble-free as possible.

Consider management companies. Are they formed yet? If not, who is responsible for providing certificates and procedures? Processes need to be pinned down at an early stage.

Continuous communication and collaboration

Maintaining open lines of communication and fostering collaboration among all parties involved in the transaction are important for avoiding delays. Regular updates on the status of the transaction, proactive problem-solving, and timely responses to enquiries can help mitigate potential roadblocks and ensure that the process moves forward smoothly. Utilising technology such as project management tools or dedicated round table conference calls can facilitate seamless collaboration among all professionals involved.

Stay informed and adapt to changing regulations

In an ever-evolving regulatory landscape, staying informed about changes in legislation and industry guidelines is crucial. By remaining vigilant and adapting procedures to align with regulatory requirements, stakeholders can proactively address compliance issues and prevent disruptions. Engaging with legal advisors and industry experts can provide valuable insights into emerging regulations and best practices.

In summary

As the new financial year commences, embracing proactive measures and implementing streamlined procedures can help ensure that sales transactions progress smoothly and efficiently. By prioritising setup and taking the initiative on all aspects at the outset of a transaction, fostering continuous communication and collaboration, and staying informed about regulatory changes, organisations can minimise delays and facilitate successful exchanges. Through working together towards a common goal, sales transactions can be navigated with confidence, and positive outcomes achieved for all.

For training support on development, sales, or aftersales, please do contact our specialist housing team.

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Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP