One of the main issues that sellers in the London property market worry about is the possibility of their sale falling through. There are several pitfalls which may present themselves from the time that the buyer’s offer is accepted until the exchange of contracts, however there are a number of things which can be done to avoid these problems and to get the sale back on track.
From problematic survey results to breaks in the property chain, this article looks at how best to deal with any issues which may arise to facilitate a successful completion.
Unexpected survey results
Buyers who were extremely keen to purchase a property often change their minds when the survey shows up an unexpected problem. Unsurprisingly, most people who are keen to buy property in London are reluctant to bear the additional expense of rectifying structural defects, and therefore choose to pull out of the sale.
Harry Singh, Henry Wiltshire estate agent in Hayes, advises sellers to ensure that all paperwork is in order before putting their property on the market. “It’s essential for sellers to ensure that all certificates for any work carried out are provided to the surveyor and the purchaser ahead of time,” he says. “If any work on the property is necessary, it’s often a better idea to have it rectified before trying to sell, since if the sale falls through as a result of problems which show up on the survey the seller will still be obliged to pay the solicitor’s fees and may end up having to pay for the work to be carried out anyway.”
A break in the chain
Whenever a property is part of a chain there is a risk of the sale falling through since every seller and buyer is reliant on the next until the chain is finally complete. The longer and more complex the chain, the greater the chance of one person changing their mind, jeopardising every other link. The best advice for both sellers and purchasers is to consider making a compromise, and, of course, to choose a high quality, experienced estate agent who can ensure that the sale is kept together.
Difficulties during negotiations
Negotiating a sale can often be a challenging time, and demands are often made which the seller is unprepared for. Fixtures and fittings are often a bone of contention, however staying calm and being prepared to be a little flexible can help to ensure that the sale stays on track. It’s not worth losing the deal over a small detail like whether or not curtains will be left in the property, or the inability to agree to a particular completion date.
Again, choosing the right estate agent is instrumental to the sale’s success, helping to mediate between the parties, smoothing over the cracks and ensuring that the transaction is finally completed to everyone’s satisfaction.
Sell property in Hayes
Harry and the Henry Wiltshire team are experts in the Hayes housing market and can help to facilitate your sale. If you want to sell property in UB3, contact the team today on 020 36965626 to find out how they can be of assistance.