Taking the stress out of selling?
Fri 27 Oct 2017
Communities Secretary Sajid Javid has launched an eight-week review looking at how to make buying or selling a home "faster and less stressful", including measures to tackle gazumping.
However, the truth is gazumping is just one of a long list of things that could happen after an offer has been made – which is why you need somebody backing your corner, explains Paul Ivens, our director.
At last, the Government has recognised the difficulty of the house buying/selling process. There is no denying it - selling a home is not easy. It can be stressful and, thanks to the increased complexity of the conveyancing process in recent years, it is certainly not a quick process. Even without a chain it could take up to 12 weeks to complete on a sale.
Sajid Javid is asking for input from the industry on how to improve this process and one of his biggest drivers is to tackle gazumping - when a seller accepts a higher offer from a new buyer, having previously accepted a lower one.
Of course this can be a big frustration for buyers, but sellers must also be mindful that there are a long list of things that could go wrong after accepting an offer on your home. From issues with a survey or defective title deeds, to rights of way, environmental issues or delays caused by probate or mortgage funds. It could even be as simple as a solicitor going on holiday and not handing over the file.
By your side right up until completion
Across the UK around 28% of house sales fall through after an offer has been accepted, which is why we always ask potential customers who could you turn to? Cheaper, online estate agents might look attractive but they simply can’t offer the personal service and dedicated chain management support that you might need to hold the chain together if something goes wrong. And let’s be honest, whatever the outcome of the Government’s review, there will always be a certain level of stress when selling a home.
A good local, high street estate agency like Green & Company has dedicated staff to help keep things moving – and crucially, they are available at the end of the phone, on email, text or in person in your local branch. Whether you are buying or selling, the statistics show there is a good chance you will need this added support at some point.
Getting ready for sale
Sajid Javid’s review will also consider how to ‘advise home buyers and sellers so they are sale-ready’, something else we can support with in the form of our ‘legal-ready’ service.
By working with our panel of approved local solicitors, our sellers can have their property ready for exchange even before they have accepted an offer. It can speed up the process and make your property a more attractive proposition too.
The Communities Secretary does make a good point, however, in that buyers and sellers must be better educated in what it actually takes to reach completion and buy or sell a home.
We aim to make things as clear as possible for our customers, which is why we have recently introduced a new process that clearly communicates all the steps required to reach completion, from instructing a solicitor through to surveys, local searches, enquiries and mortgage requirements. I believe it is important for everybody to know up front where they are in the process, what’s left to complete and how long it is expected to take – another benefit of using an experienced high-street estate agency.
Visit www.green-property.com or call 0121 296 1400 to see what Green & Company can do for you.