Navigating the property market can be exciting but it can quickly turn frustrating when a sale is at the risk of falling through. As experienced estate agents, we have witnessed how certain pitfalls can put transactions in jeopardy. To keep your sale on track and avoid the disappointment of it falling through, we have compiled five key tips that you should keep in mind.
1. Secure Financial Foundations
Financial uncertainties can often lead to sales falling through. It is recommended that buyers obtain a mortgage agreement in principle before making an offer. This not only demonstrates their seriousness as a buyer but also provides proof of their financial capability. On the other hand, sellers should insist on their agent performing thorough financial checks on prospective buyers to avoid any unexpected surprises during the sales process.
2. Strengthen Property Chains
Property chains can be fragile, and if one link fails, it can cause a domino effect leading to the collapse of the entire chain. To prevent this risk, it’s important to have open communication and work with an estate agent who has a proactive strategy. One way to avoid this vulnerability is to consider the advantage of chain-free buyers.
Looking for a multi-award-winning, experienced Estate Agent? Speak to our team at Ensum Brown.
3. Address Survey Concerns Early
Deals can fall through due to unexpected issues found during property surveys. To avoid this, sellers can opt to conduct a pre-sale property survey to uncover and address any potential deal-breakers beforehand. On the other hand, buyers should view survey results as an opportunity for negotiation rather than a roadblock.
4. Navigate Legalities Smoothly
Legal delays can be a source of frustration for everyone involved in a property sale, and they can increase the risk of the sale falling through. To avoid this, it’s a good idea to hire experienced solicitors who specialise in property law and ensure that all necessary documents are ready. Promptly responding to solicitors’ inquiries can also help prevent unnecessary hold-ups.
5. Keep Communication Open
The process of buying or selling a home can be an emotional rollercoaster that sometimes causes uncertainty and second thoughts, potentially putting the sale at risk. However, if a dedicated estate agent provides regular updates and reassurances to all parties involved, it can help maintain confidence and keep the transaction moving forward smoothly.
Being aware and prepared for common issues can significantly reduce the chances of your sale falling through. As your local estate agents, our role is to guide and support you through each step, ensuring a smooth and successful journey in the property market.
For personalised advice and a free property valuation, don’t hesitate to contact us today.
