Although properties are receiving multiple offers at once, that does not mean that home sellers are enjoying a smooth ride. Accepting an offer is often the easiest part of selling a home. These are the top challenges that house movers have to face. Here are our top tips on how to avoid them.
Get Stuck in a Property Chain
A house move can be complicated by property chains. The longer the move takes and the higher the risk of complications, the more properties that are included in the ‘chain’.
Avoid getting trapped in a property-chain trap by making yourself free from your property, whether you sell it before buying the next one, buy from a seller who is chain-free, or selling to a buyer who is chain-free.
House Sales Falling Through
Around one in four property sales will fail before completion.
There are many reasons why property sales fail. The most common reasons are chain collapse, buyer pulling out because of something in the property survey, or difficulty getting a mortgage.
Avoiding a failed property sale is the best way to prevent it. Many people are familiar with property auctions and understand how they work. Although fewer people are aware of the benefits of using a home-buying company, they are becoming more popular. A home buying company is a business that will pay less than the market value of your property. However, they can offer speed and certainty that are unmatched on the open market. A genuine cash home buyer company will guarantee your sale. This means you won’t have to worry about it falling through. Often, the sale can be completed in as little a week.
Unpredictable Timescales
The unpredictable nature of property management and sales is a hallmark. A typical time frame to sell a house is between six and seven month. Some properties will sell faster than others, while others may take longer.
A property auction is a great option if you want more certainty about property sales timeframes but don’t have the budget to accept a high-end offer from a home buyer company. Traditional property auctions typically stipulate that all sales must be completed within 30 days. This will ensure you know when your sale will take place.
Moving Companies at High Costs and Other Expenditure Add Ons
House owners often overlook the cost of moving. Moving companies will charge you differently depending on the size of your home (number of rooms, etc.). To make your transition smoother, you need to find the best moving companies such as man and van Ealing.
Before you begin the process of moving, make sure that you get a clear and detailed quote. Additional packing costs should also be considered. Do not be surprised by a large bill after you move into your new home.
Gazumping/Gazundering
Gazumping refers to a homeowner who accepts an offer for their home but then withdraws from the sale in order to accept a better offer from another buyer.
Gazundering occurs when a buyer lowers their offer just before the contract exchange. To avoid losing the sale, the seller may feel pressured into accepting a lower offer and having to restart the whole sale process with a new buyer.
There isn’t much you can do to prevent these situations. You trust the other party when you sign an agreement to purchase or sell property. This trust may not always be justified and you might experience disappointment. The best way to reduce the possibility of gazumping and gazundering is to establish a good relationship with your estate agent. You hope they will let you know if your buyer is considering making a lower offer, or if your seller is considering another offer.
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